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It is, which is why they have to report the loss. SPHR - let us know how it goes!

Fascinating, a brand new entity that effectively went public the day it began generating revenue. Are there other examples of this?

Pixar IPOed a week after Toy Story was released in theatres.

> Fascinating, a brand new entity that effectively went public the day it began generating revenue.

This isn't correct.

THe stock has been public since 2020. It just happens to own the Sphere.

Thank you for pointing that out. Also it was a spinoff of Madison Square Gardens which makes sense how it IPO'd pre revenue-