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BURBANK, California (LifeSiteNews) – Disney’s stock market value has dropped by $50 billion since the media company increased its activism on behalf of the LGBT agenda, including opposing Florida’s new anti-grooming law.

“Disney’s stock was down more than 2% on Friday and by more than 8.5% over the past few days as Florida lawmakers work to punish the company for wading into the state’s politics,” the Washington Examiner reported on Friday. “The stock’s market cap has declined by about $46.6 billion since March 1, just days before the company came out against the legislation.”

RELATED: Florida votes to repeal Disney’s ‘special district’ status after company targets parental rights bill

Governor Ron DeSantis signed legislation on Friday that dissolves Disney’s special Reedy Creek Development District.

His office told the Washington Examiner that such special districts can show “favoritism” toward special interests.

“Special districts could in some instances show favoritism,” his media team told the publication. “Should a corporation be serving as a regulator and a business at the same time? Should a corporation get to avoid standard environmental permitting processes? Should a corporation engage in eminent domain? Other businesses don’t get these privileges.”

RELATED: Disney to fight Texas order against child sex change surgeries after opposing Florida parental rights bill

The Florida Constitution, updated in 1968, prohibited any new districts from being created, but Disney’s, formed in 1967, was grandfathered in under the update.