While there’s no publicly revealed link between the recent 12 equine deaths at Churchill Downs, an analyst believes it’s possible some trainers allowed unhealthy horses to race at the Kentucky track.
In a note to clients today, Truist Securities analyst Barry Jonas said he spoke with Churchill Downs (NASDAQ: CHDN) management Monday. That’s as the stock shed $650 million in market value in the first trading day following the announcement that the operator’s spring meet will be suspended starting tomorrow and moved to Ellis Park.
(Churchill Downs) paused track-based incentives and limited purse payouts to the top five finishers,” observed the analyst. “We think prior policies may have driven some trainers to race unhealthy horses.”
In a note to clients today, Truist Securities analyst Barry Jonas said he spoke with Churchill Downs (NASDAQ: CHDN) management Monday. That’s as the stock shed $650 million in market value in the first trading day following the announcement that the operator’s spring meet will be suspended starting tomorrow and moved to Ellis Park.
(Churchill Downs) paused track-based incentives and limited purse payouts to the top five finishers,” observed the analyst. “We think prior policies may have driven some trainers to race unhealthy horses.”