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Friday, March 21st
“It doesn’t take a weatherman to know which way the wind is blowing”
-Bob Dylan
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Markets Today
🌏 Asia-Pacific: Mixed
🇪🇺 Europe: Down
🇺🇸 United States: Down
🛢️ Oil: Down
⚡Crypto: Down
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Major Market Events
- Musk urges TSLA employees to hold onto stock after 50% plunge
- JP Morgan quietly backs out of “climate change” coalition
- Biotech Tonix Pharma soars on news of Monkeypox vaccine
🤔 My Thoughts
We talked yesterday about Apple’s content woes…
But today it’s content behemoth Disney in the crosshairs.
While many companies are scrambling to regain political neutrality during the second Trump term…
Disney’s major shareholders recently rejected a proposal to leave a controversial political group called The Corporate Equity Index.
The Corporate Equity Index measures companies based on how much they hire and promote and encourage LGBTQ employees.
Other big companies like John Deere and Tractor Supply Co have left these controversial political groups, saying they’re going to avoid politics and simply focus on running a good business.
But Disney, at the behest of its board, is staying committed to the Corporate Equity Index.
Investors didn’t like this news, and Disney stock is down 10% on the month, and looking to continue falling today.
It’s hard enough to run a business right now without also adding in political activism based around the personal lives of employees.
Meanwhile, Disney’s ESPN is reportedly in the process of a $2 billion deal to acquire NFL Network and NFL Redzone broadcasting rights.
Football has been a rare bright spot in the lagging television market, maintaining record high viewership for live games.
But can Disney pull off this audacious deal with all the political distractions? Investors remain skeptical…
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Testimonial of the day:
Nathan W. about the Wave Indicator:
