SeaWorld stock hits all-time low
NEW YORK– SeaWorld’s attendance is down and so is its stock price, which plunged to an all-time low Thursday. Shares of Seaworld Entertainment dropped 11% at the start of trading.
While Seaworld’s profits in the most recent quarter improved dramatically from a year ago, they still fell short of expectations. Also, revenue declined slightly.
Seaworld also said that attendance at its theme parks in the second quarter dropped by nearly half a million guests, primarily because of its Florida parks.
The company blamed a “shift in the timing of holidays,” a drop in tourists from Latin America, “softness” in the Orlando market, and Tropical Storm Colin, which whipped through Florida in June.
The company did not mention the relentless drumbeat of animal rights activism from PETA or the lingering impact from the CNN movie “Blackfish,” which came out in 2013. Seaworld has been working to improve conditions to combat the perception that it was neglecting and mistreating its orcas, or killer whales.
By Aaron Smith