Disney (DIS) shares are in focus today after internal communications at the theme-parks-to-cruise-ships entertainment giant were leaked online.
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Disney Data Hack
Data from Disney’s internal Slack infrastructure were leaked online by an anonymous hacking group called Nullbulge. According to the Wall Street Journal, the leaked data from the thousands of Slack channels at Disney include discussions about ad campaigns, studio technology, computer code, and details of unreleased projects. Slack is a popular communications platform used by multiple companies.
Interestingly, the leaked data goes as far back as 2019. Disney, in the meantime, is probing the leak. Nullbulge noted that it targeted Disney due to its handling of artist contracts and its AI strategy. The hacking group is an advocate for artists’ rights and picks its targets based on social, economic, or political reasons.
The Bigger Picture
The development once again highlights the ripple effects of the entertainment sector’s gradual embrace of AI. In recent times, artists and creatives have resorted to legal action against names such as Microsoft-backed (MSFT) OpenAI over using their works without consent. Some creators have also accused Disney of stopping their royalty payments.
For now, the exact extent of Nullbulge’s access to Disney’s Slack channels is not clear. The 1.2 TB data leak, though, could substantially weigh on Disney’s share price over the coming sessions.
What Is the Target Price for DIS Stock?
Overall, the Street has a Strong Buy consensus rating on Disney, alongside an average DIS price target of $128.04. Shares of the company are down by nearly 14% over the past three months already.
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