Market Overview

SeaWorld Spikes After Report That Its Killer Whale Show Is Ending

SeaWorld Spikes After Report That Its Killer Whale Show Is Ending

  • Shares of SeaWorld Entertainment Inc (NYSE: SEAS) spiked around mid-day Monday before declining once again in the afternoon and recuperating yet again closer to the market close.
  • The initial surge seems to have been triggered by an article published on the San Diego Union-Tribune, which said the company will phase out its much-criticized killer whale show. The second spike came after a call with investors held by CEO Joel Manby.
  • The decision is a part of a wider strategy aimed at re-positioning the company and its public image, the source informed.
  • It seems like the San Diego park will finally put an end to its longstanding, yet much-criticized killer whale show. Animal rights activists have been complaining about how SeaWorld treats its orcas for years, and this has taken a big toll on the company’s public image and park attendance, and, consequently, on its stock.

    Related Link: Goldman Downgrades SeaWorld As "Recovery Will Take Longer" Than Envisioned

    Educational Experience Versus Pure Entertainment

    The San Diego Union-Tribune disclosed that the park would be inaugurating a “new orca experience” in 2017. Instead of offering tricks, the new attraction will allegedly feature a more “informative” experience, which will take place in “a more natural setting that would carry a ‘conservation message inspiring people to act.’” The information was originally posted in a company document explaining a new strategy aimed at re-positioning the beaten down company.

    However, the document did not say anything about ending the killer whale shows at the SeaWorld theme parks in Orlando or San Antonio.

    Disclosure: Javier Hasse holds no positions in any of the securities mentioned above.

    Image Credit: Public Domain

    Posted-In: Joel Manby Killer OrcaNews Topics Travel Movers General Best of Benzinga


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