Actionable news
All posts from Actionable news

Will SeaWorld (SEAS) Stock Be Impacted by Plan to Fight Orca Ban?

NEW YORK (TheStreet) -- SeaWorld Entertainment (SEAS - Get Report) announced on Thursday evening that it plans to fight back against the California Coastal Commission's decision to approve its $100 million killer whale tank expansion project, with the amendment that the San Diego park halt all breeding of the animals.

"As a regulatory board charged with managing coastal development and related land-use decisions, the Coastal Commission went way beyond its jurisdiction and authority when it banned breeding by killer whales at SeaWorld," company CEO Joel Manby said in a statement.

"By imposing broad new jurisdiction over all future SeaWorld marine animal projects, as well as aquarium projects elsewhere in the state, the Commission has overstepped both federal and California law," Manby continued.

STOCKS TO BUY: TheStreet Quant Ratings has identified a handful of stocks with serious upside potential in the next 12-months. Learn more.

The Commission's ruling also prohibits the sale, trade or transfer of captive killer whales in California.

The question behind the ethics of keeping killer whales, or orcas, the ocean's top predator, in captivity reached the public eye in 2010 when a whale at the company's Orlando park dragged a senior trainer into his tank and killed her.

Animal rights activists had been outspoken against SeaWorld's practice of keeping and breeding orcas...