Walt Disney Co (DIS) pulled earlier this week the “Star Wars” movie “Rogue Squadron” from its 2023 film schedule.
The company provided no indication on when a new movie in the blockbuster franchise would be released.
This would have been the first “Star Wars” movie to hit theaters since “The Rise of Skywalker” was released in December 2019.
“Rogue Squadron” was slated to be directed by “Wonder Woman” film maker Patty Jenkins.
Previously, the movie was postponed from 2022 to December 2023 because of scheduling conflicts with Jenkins.
Walt Disney shares closed lower for a second consecutive trading session in New York on Friday. It has also been the steepest single-session loss since September 13th. The stock went down 2.27% ($2.52) to $108.25, after touching an intraday low at $106.97. The latter has been a price level not seen since August 5th ($105.37).
The shares of Walt Disney Company have retreated 30.11% so far in 2022 compared with an 18.73% loss for the benchmark index, S&P 500 (SPX).
In 2021, Walt Disney’s stock went down 14.51%, thus, it again underperformed the S&P 500, which registered a 26.89% gain.