Dover Motorsports’ stock continues to inch up a bit. Now, Nascar restarted the season. In the long term, I am confident that Dover’s stock will return to $2 per share territory. However, in the short term, I am watching whether the May race will be rescheduled.
Dover has two Nascar weekends. One in May and one in October. If the May race gets rescheduled, then this should be good for the stock.
Nascar, a private organization, owns a lot of Nascar races. It is not a big deal if one or two of their races do not happen this year. For Dover, if May race never happens, this is 50 percent of revenues. In the short term, this is a big hit. In the long term, it won’t matter. However, if the May race gets rescheduled, then there won’t be 50 percent drop in revenues. So we just have to wait and see.