As per the reports, the opening weekend of James Cameron’s “Avatar: The Way of Water” was less successful than anticipated at the box office, which led to a drop in the price of Disney stock on Monday.
Following a new 52-week low, Disney shares finished the day with a loss of more than 4% at USD 85.78. If sources are to be believed, the stock price of the company has dropped by more than forty percent.
Industry experts believe that the long-awaited sequel to “Avatar” will be a profitable venture for Disney at the box office, and they view the upcoming holiday season as a crucial time for the film’s success or failure.
During its first weekend of release in the United States, the movie earned a total of USD 134 million at the box office, which is significantly less than the USD 175 million that industry experts had predicted it would earn, as well as Disney’s own projection of between USD 135 million and USD 150 million.
Even so, industry insiders aren’t too worried just yet. Including its USD300.5 million from outside markets, “Way of Water’s” first-weekend gross was a whopping USD 434.5 million.
Even though it only generated USD 77 million in its opening weekend when it was first released in 2009, the original picture ended up becoming the highest-grossing film of all time.
Since the beginning of the pandemic, when movie theatres and theme parks were closed for months, Disney has been suffering difficulties.
With the exception of successful movies like “Top Gun: Maverick”, the movie theatre sector is still trying to get back on its feet. Disney fans have also had to deal with higher prices at the parks.
Disney’s stock price, which had climbed throughout the pandemic because of former CEO Bob Chapek’s efforts to keep the company afloat, has subsequently dropped, from over USD200 per share at one time in 2021 to below USD 150 today.