🔴 Sphere Entertainment is trading 5% down today as Wizard of Oz demand weakens

Sphere Entertainment is trading at $105.22, down 5.03%, after Craig-Hallum cited weakening The Wizard of Oz demand.

• The decline extends the October 5 selloff; shares closed at $110.80, down 13.61%. Craig-Hallum downgraded Sphere Entertainment to Hold from Buy and cut its target to $132 from $170.
• The September 25 update did not meaningfully revive demand; monthly ticket sales slowed from about $40 million to below $30 million.
• Markets were higher October 6, pointing to company-specific, not market-wide concerns.