Opinions
Jim Cramer - Mad Money
Sphere Entertainment
SPHR-N
DON'T BUY
Dec 15, 2023
N/A
Stock price when the opinion was issued
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Made a splash by hosting U2 concerts in its impressive, but very expensive venue in Las Vegas. It also makes money from selling advertising on its exterior and from regional sports networks. But this is volatile, down 15% one day then 10% up another this past week. Also, the CFO was reported quitting following an angry tantrum by its CEO. Also, London's mayor blocked building a Sphere there, and the company's growth plan depends on building more spheres around the world. Where can it build? Building the Vegas Sphere had put this in heavy debt that looks like it will get worse. That said, they're on track to turn a profile this quarter. Overall, this is too risky for him. Pass.