The stock market sell-off accelerated Friday afternoon as the Dow Jones Industrial Average shed 450 points to test its 50-day moving average. Read More...
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Why Walt Disney Stock Crashed Today
Part of that you can blame on Dow component stock Walt Disney (NYSE: DIS), which is taking a 3.7% tumble today. Who is Guggenheim, you ask? As StreetInsider.com reports, Guggenheim cut its rating on Disney stock this morning, and cut its price target on the shares by 20% to $165 apiece, citing a slower “pace of profit growth at the company’s direct-to-consumer (DTC) and parks businesses, which is now below consensus through fiscal 2024.”
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