Overlooked Alpha

Overlooked Alpha

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Overlooked Alpha
Overlooked Alpha
Research Notes: The Las Vegas Sphere
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Research Notes

Research Notes: The Las Vegas Sphere

Sphere Entertainment might be the most intriguing stock in the market

Wall Street and Main
Nov 16, 2023
∙ Paid
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Overlooked Alpha
Overlooked Alpha
Research Notes: The Las Vegas Sphere
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Highlights:

  • Sphere Entertainment has built possibly the most unique venue in modern history — which makes the stock both fascinating and extraordinarily difficult to model.

  • Management concerns are real, and it’s possible the legacy MSG Networks business turns out to be an albatross.

  • Valuation is reasonable if an investor believes in the product. There’s so…

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