PETA Increased Its Stake In SeaWorld This Week
PETA owns SeaWorld stock.
When Cher found out the news on Thursday, the international recording star was less than thrilled.
PETA BUYS #SEAWORLD STOCK ?!?THIS CANT BE TRUE !!!!!THIS CANT BE TRUE !!!!!!!!!!!!!
- Cher (@cher) August 21, 2014
But PETA's stake really isn't a big deal.
After the recent tumble in shares of SeaWorld, PETA said in an emailed statement that it purchased more shares of SeaWorld, "in order to retain the minimum investment that it needs to propose shareholder resolutions and submit formal shareholders questions" to the company.
This minimum investment, per SEC rules, is just $2,000.
In a phone call on Thursday, PETA spokeswoman Lindsay Rajt said the company bought 55 shares of PETA after its recent fall, bringing its holdings in the company to 135 shares.
Shares of SeaWorld closed at $19.01 on Thursday, making the value of PETA's stake in the company just over $2,900.
Rajt said PETA plans to hold onto its stake to retain the ability to submit shareholder proposals and ask questions at the company's annual meeting.
According to PETA website seaworldofhurt.com, Jessica Biel submitted a question at SeaWorld's June annual meeting about whether or not the company has any plans to release some of its whale's into the wild.
A webcast replay of SeaWorld's annual meeting shows SeaWorld CEO Jim Atchison responding to PETA's question about releasing its whales back into the wild. Atchison said setting their whales free into a coastal environment makes "no sense" given that the whales are born and bred in captivity.
But SeaWorld's most recent quarterly results indicate that the company is clearly contending with an ever more hostile PR environment. Shortly after its quarterly report, SeaWorld announced it would build bigger tanks for its Orca whales.
PETA called this a "drop-in-the-bucket move."
And so while PETA maintains a small economic interest in SeaWorld, it's stake could also a drop-in-the-bucket.
So Cher can probably relax.
- I'm an interior designer. Here are 10 things in your living room you should get rid of.
- A software engineer shares the résumé he's used since college that got him a $500,000 job at Meta — plus offers at TikTok and LinkedIn
- Higher-paid employees looking for work are having a tough time, and it could be a sign of a shift in the workplace
- Adani Green Energy Q4 net profit declines 39 pc to Rs 310 cr due to rising expenses
- Rupee rises 3 paise to end at 83.43 against US dollar
- 500 times faster than 5g! Japanese companies unveil 6g internet that can stream 5 HD movies at once
- Top tourist places to visit in Ooty in 2024
- Renewable energy accounted for 71 per cent of India's new power generation in FY 24