Disney stock has suffered a major fall following a series of controversial statements and a move by the board to take control of the company.
The company has now gone into administration, meaning that its stock will not be listed on any of the major stock exchanges and the stock will be trading on the BATS Global Market.
The stock has also seen a series a recent buybacks by investors, and has seen the value of its shares rise as investors look for a safe haven.
However, it is not the first time that Disney has faced criticism for its leadership and management.
In the early 1990s, the company was accused of being a ‘mafia of insiders’ and a ‘corporate oligarchy’ following a wave of corruption allegations.
Disney has since been accused of over-investing in the production of the Frozen films, with the company having spent billions on production costs and producing the Frozen 2 sequels in order to get its films into cinemas.
But the company has since returned to profitability and has been seen as a key part of the Disney renaissance and success story.
Disney’s stock is currently trading at $22.50 a share, down $8.15.