Why Are These Stocks Suffering Significant Losses? SeaWorld Entertainment Inc(NYSE:SEAS) and KiOr Inc(NASDAQ:KIOR)
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SeaWorld Entertainment Inc(NYSE:SEAS) suffered a substantial decrease in value during yesterday’s trading as the stock fell $9.25 to finish the day at a closing price of $18.90. The stock notably reached a new 52 week low of $18.17. The company released its second quarter financial results on Wednesday, reporting earnings per share of just $0.43.
SeaWorld executives notably admitted yesterday, that the company’s attendance figures have also been harmed by concerns regarding how the company treats its killer whales, a key attraction for visitors. Recently, Democrat Richard Bloom, an Assemblyman from Santa Monica, CA, has slammed the company’s “captive display for entertainment purposes.” Other animal rights have activists have also attacked the company, with the “Blackfish” documentary released last year receiving critical claim for its portrayal of SeaWorld.
KiOR Inc(NASDAQ:KIOR) saw its value decline by 28.03% during yesterday’s trading as the stock fell seven cents to close at a price of $0.18, a new 52 week low for the Texas-based renewable fuels company. The stock, which traded within a range of $0.18 to $0.24 during the day, once traded for as much as $3.10. KiOr’s activity has also spiked, reaching a trading volume of 4,177,287 which dwarfs its three month average of 596,017.
On Monday, KiOr announced that it requires additional funding in order to continue its operations after Sept. 2014. The company, which is backed by Vinod Kohsla and Bill Gates, would file for bankruptcy if it is unable to secure funds. KiOr also needs to pay back its $69.4 million debt to the state of Mississippi.
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