As much as a doubter of Six flags (SIX) that I am, even this dramatic move surprised me.
Six Flags’ shares lost 37 cents to close at 48 cents, after touching an all-time low of 25 cents during the day yesterday. Shares have lost more than 90 percent from its 52-week high of $5.92 last July. Today they trade at 60 cents each.
On Tuesday, research firm IBISWorld predicted that fewer Americans will visit U.S. amusement parks this year and admissions will improve only slightly in 2009. Is this really news to anyone?
Something else is happening. Someone is dumping shares in a big way.
Disclosure (“none” means no position):None
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2 replies on “Look Under the Sofa Cushion To Buy Six Flags Shares”
“On Tuesday, research firm IBISWorld predicted that fewer Americans will visit U.S. amusement parks this year and admissions will improve only slightly in 2009. Is this really news to anyone?”
News to me.
Expect SIX to report quite a jump in attendance on August 4th for Q2 even without the Easter holiday included. This type of economic environment is actually a boon to Six Flags.
Wouldn’t be surprised at all if the stock is back up voer $2 to $3 by the end of August.
–JD
jd,
well see…..
i bet they get crushed…