Dec 25th – Equity Entry


The stock is up 50% in the last 3 months, crazy sentiment, In the case of  SeaWorld we have a business with very questionable equity of $500m (poor balance sheet) selling for $1.7B, The company has $1.8B in debt. If we shift over to the income statement, we see that over the last three years, net income has shrunk and so have margins.

I started a small position short, and have steadily built if over the course of the week in the face of an overzealous rally. Starting small to give my self room incase timing is off, I maybe stepping in front of a train but i don’t think ill get badly hurt here.

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