Worst-Performing Real America Index Stock – Daktronics
The business of sports has had a tough go in the last year or two. On top of weak consumer confidence sapping ticket sales and concessions, labor problems loom in the NFL — with the likelihood of a work stoppage in the NBA next year, too. There’s still a lot of money to be made via football, basketball and baseball, but clearly there’s not as much as there used to be.
That’s why South Dakota’s Daktronics (NASDAQ:DAKT) has been sacked for a steep loss. In February Daktronics took a steep dive after projecting lower sales in the near term, and it made good on that poor projection in its most recent earnings report. The maker of high-tech scoreboards and ad displays hasn’t had the orders or the profits that it did in the boom times.
Back in 2008, Daktronics was behind the world’s largest HD display at the time — a 105-foot tall and 85-foot wide scoreboard for the Kansas City Royals that boasted a total of 8,925 square feet. Obviously with labor issues in the NFL and tight times for consumers and businesses alike, Daktronics hasn’t had those kind of contracts lately. As a result, DAKT stock is off almost 33% year-to-date.