Zardnaar
Legend
Stock price is not everything. In fiscal year 2019, they had a net income of about $10 billion. For 2020, that became a net loss of nearly $3 billion.
That not "made less money". That's "gone form massively profitable to losing billions". That's a drubbing. One they can handle, yes, but 2021 going to be similarly bad for its first half (because we aren't getting everyone vaccinated before June, realistically). So, setting up an expectation that it'll be okay in the long run, because they have got the stuff everyone wants to watch all lined up, is a decent strategy.
This plus they were 50 billion in debt before the pandemic.
Even with vaccines I doubt Disney has recovered by this time next year.