Disney shares sank nearly 5% on Monday to their lowest level since March 2020, after the blockbuster 'Avatar' sequel -- one of the priciest movies in Hollywood history -- fell short of the hype in its opening weekend.
“Avatar: The Way of Water” couldn’t reverse Walt Disney Co.’s recent funk, which has the stock on a path for its worst year since 1974.
Disney had hoped to clean up in China, where the first movie in 2009 did blockbuster business. “The Way of Water” earned $57.1 million there, which Disney described in a Wall Street Journal report as disappointing but understandable.
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