Following ABC’s decision to suspend Jimmy Kimmel Live! on September 17, rumors quickly spread on social media claiming that Disney lost $4 billion in market value overnight.
ABC, a subsidiary of The Walt Disney Company, temporarily pulled the show off the air on September 17.
Specifically, a Reddit post asserted that “Disney wiped out nearly $3.87 billion in market capitalization overnight,” which drew tens of thousands of interactions. The figure circulated rapidly, leading many to believe the company had suffered a severe financial shock over a single late-night program.
However, fact-checking site Snopes clarified that the claim of a $4 billion loss overnight was inaccurate.
Market data showed that between the market close on September 17 and the opening on September 18, Disney’s stock price only slipped from $116.10 to $115.33—a drop of 0.66%. With 1.799 billion shares outstanding, that decline equated to about $1.4 billion in lost market capitalization.
Snopes confirmed that Disney did not lose $4 billion in one night. Still, the stock continued to slide in the days following. By September 19, it had fallen to $113.76, amounting to a $4.2 billion decline, and by September 22, it dropped further to $112.56—bringing the total loss to $6.4 billion.
The downturn was attributed largely to public backlash against the suspension. Many subscribers reportedly canceled Disney+ in protest, while some artists, including actor Mark Ruffalo, criticized the company and warned that Disney could face greater consequences if the show were permanently canceled.
Nevertheless, analysts remain optimistic about Disney’s long-term outlook. According to Yahoo! Finance and CNN, the drop reflected only a short-term reaction and not a sign of structural weakness in the business.
ABC has since confirmed that Jimmy Kimmel Live! would return to the air on September 23—a move seen as an attempt to calm public sentiment and restore investor confidence.
