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Article: Speedway keeps hammer down and share price up. (Charlotte Motor Speedway)
- Article from:
- Business North Carolina
- Article date:
- October 1, 1996
- Author:
CopyrightCOPYRIGHT 1996 Business North Carolina. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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Powered by passionately loyal fans and a growing lineup of corporate sponsors, stock-car racing has emerged as one of the fastest-growing spectator sports in the country. The excitement has helped drive the stock of Speedway Motorsports Inc. (TRK-NYSE) up 183% since it went public a year and a half ago.
"Speedway is one of the few ways [for investors] to participate" in the popularity of stock-car racing, says F. Breck Wheeler, an analyst with J.C. Bradford & Co. in Nashville, Tenn. It "enjoys strong operating margins in an industry with significant barriers to entry."
The Concord-based owner of Charlotte Motor Speedway and other racetracks in the Southeast ...