Shares of Speedway Motorsports Incorporated (NYSE:TRK) shot up 6% on Friday. The bad news for investors is shares now are marginally away from 52 week highs and finally trade above book value. However, with an upcoming football related announcement coming on Monday and new broadcasting deals coming soon, long term investors should be pleasantly rewarded.
Speedway Motorsports owns eight racetracks that host NASCAR, Nationwide, and professional truck races every year. The company also owns SMI Properties (food, beverage, and hospitality at venues), U.S. Legend Cars International (full model race cars), Performance Racing Network (radio broadcasting of races), and Motorsports Authentics (licensed souvenirs, joint venture with International Speedway Corporation (NASDAQ:ISCA).
Here are the eight owned racetracks,...
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