Six Flags Plunges 14% as Fatal Ride Prompts Sweeping Closures
FUN is trading near its 52-week low of $9.86 (1.2% above the low) on elevated volume (2.2× avg).
Summary
Shares fell 14% to $10.21 after Six Flags temporarily closed eight roller coasters across its parks following a fatal incident at Six Flags Over Georgia on Monday. The company suspended the Goliath coaster where the death occurred and shuttered similar attractions out of caution. This is the most extensive ride closure since the 2020 pandemic disruptions. The incident adds to safety scrutiny, coming less than a month after a lawsuit over brain injuries on the X2 coaster at Magic Mountain. The stock is now heading for its lowest close since 2009, compounding a 32% year-to-date decline.
At the time of this announcement, FUN was trading at $9.98 on NYSE in the Trade & Services sector, with a market capitalization of approximately $1B. The 52-week trading range was $9.86 to $27.37. This news item was assessed with negative market sentiment and an importance score of 7 out of 10. Source: Dow Jones Newswires.