There has been a lot of talk around Fanatics this week. Apparently they let go of a bunch of employees that were involved in Fanatics Fest and if you have been following close, looks like they have bitten more than they can chew.
In a report in September, they tendered to sell shares from their company at a lower valuation (article below). This usually means that a company needs cash.
There has also been cancellations of shows that were previously planned
(Orlando and Pittsburgh). Could all of this point to Fanatics Fest being cancelled?
https://www.instagram.com/reel/DCZmk-3S4EX/?igsh=MXc1bzBybmltN3R2dg==
https://www.bloomberg.com/news/articles/2024-09-25/fanatics-explores-tender-at-discounted-25-billion-valuation?embedded-checkout=true
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