“Peltz correctly noticed that the stock is down huge and that’s probably not right,” CNBC’s Jim Cramer said Tuesday.
is facing a new fight with activist investor Nelson Peltz over board seats and the direction of the company — efforts that CNBC's Jim Cramer welcomes.email newsletter for freePeltz called off his previous proxy fight in February, choosing to give just-back CEO Bob Iger time to turn things around at Disney. Since then, however, shares have fallen roughly 24% as the company struggles to make streaming profitable.
So some nine months later, the Trian Fund Management founder is back at it — seeking multiple board seats and looking to push his turnaround ideas. Peltz also expanded his stake in Disney to some 30 million shares,, worth more than $2.5 billion at current prices of around $85 each. Last week, Disney stock reached a 52-week low below $79.
Feeling out of the loop? We'll catch you up on the Chicago news you need to know. Sign up for the weeklyCramer said Tuesday that Disney, a holding in the CNBC Investing Club portfolio, has been declining for some time now, so it makes sense why shareholders would question its value."Peltz correctly noticed that the stock is down huge and that's probably not right," Cramer added.
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Nelson Peltz Boosts Disney Stake, Seeks Board SeatsActivist’s Trian Fund Management has accumulated stake worth more than $2.5 billion
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Disney faces pressure for more board seats from activist Nelson Peltz: reportBarbara Kollmeyer is based in Madrid, where she leads MarketWatch's pre-markets coverage of financial markets and writes the Need to Know column. She has worked in London and Los Angeles for MarketWatch previously. Follow her on Twitter bkollmeyer.
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Billionaire Nelson Peltz renews push for seats on Disney board as stock slumpsNelson Peltz, the billionaire founding partner behind Trian Fund Management, reportedly wants multiple board seats at Walt Disney — including one for himself — after his fund upped its …
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