Neutral/Negative Catalysts
- Q3 showed continued operational pressure: revenue down YoY and per-cap spending weakness; narrative remains “operational challenges.”
- Massive net loss and EPS collapse in the latest quarter reported increases perceived turnaround risk.
- Analyst price targets were broadly cut and at least one major downgrade (Morgan Stanley to Equal Weight) signals reduced confidence in a quick EBITDA recovery.
- High implied volatility suggests the market expects large moves around catalysts; if results/guidance disappoint, downside can be swift.
