Walt Disney Co (NYSE:DIS) shares are making new 52-week lows on Monday after the stock fell more than 17% over the last month.
Disney shares have been trending lower since Netflix Inc (NASDAQ:NFLX) reported a decline in its subscriber base, the company's first subscriber loss in more than 10 years.
Investors now await Disney's quarterly subscriber numbers. Disney is set to announce its fiscal second-quarter financial results after the market closes on May 11.
Jim Cramer has been buying Disney shares amid the stock's continued decline. On Monday morning, Cramer announced he was buying more shares for his Charitable Trust.
"We forgot they make movies and people go to them," Cramer said. Doctor Strange 2 topped the box office over the weekend with $185 million in its weekend debut.
Also of note, BofA removed Disney from its US-1 List, which could be contributing to Monday's decline.
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DIS 52-Week Range: $108.30 - $187.57
The stock was down 1.75% at $108.36 at time of publication.
Photo: StockSnap from Pixabay.
