SeaWorld Stock Hits New Low
Troubled water park blames low attendance on tropical storm Colin instead of cruelty exposed by Blackfish documentary.
September 13, 2016
SeaWorld stock dropped to a new low of $12.41 per share, and stock market analyst Josh Arnold predicts that the park will be hard pressed to recover from its downward financial spiral. In June, the troubled aquatic park’s stock was hovering around $16 per share—a stark contrast to the $40 per share valuation prior to the 2013 release of the documentary Blackfish. While SeaWorld CEO Joel Manby blames decreased attendance on factors such as tropical storm Colin, Arnold isn’t convinced. “[SeaWorld] hasn’t yet found a way to stop the bleeding,” he says, “even years on from the release of the documentary.” Furthermore, SeaWorld’s investors have sued the park for attempting to cover up the impact that Blackfish had on its profits. While some of SeaWorld’s numbers looked promising—namely the increase in per-person spending amongst the few existing visitors—Arnold warns that buying SeaWorld stock is risky because “investors have completely lost faith in the company’s ability to execute.”