News about Six Flags

Six Flags (FUN) fell 10% to $7.06 in afternoon trading and is down more than half since the start of the year, while United Parks & Resorts (PRKS) dropped 5% to $30.13 even though it does not operate the Goliath coaster. Live Nation (LYV) held steady at $175.10, the SPDR S&P 500 ETF Trust (SPY) rose 0.6% to $773.92, and the Invesco Leisure and Entertainment ETF (PEJ) slipped 0.3% to $66.21. Earlier this month a rider died and several people were injured on the Goliath coaster at Six Flags Over Georgia, and Six Flags temporarily closed several similar rides at other parks with no reopening timeline. The article notes that United Parks shares the same attendance-driven model, so the investigation's outcome and any ride reopenings are the next tests for both stocks.

Six Flags Entertainment (FUN) fell 17% to $9.91 after a visitor died and several others were injured on the Goliath roller coaster at Six Flags Over Georgia. The company temporarily closed similar attractions across its parks, with no reopening timeline announced, while police are investigating and no cause has been given. The closures come during Halloween events, which management has described as its largest fourth-quarter opportunity. The stock is down 50% over the past year, and the company already faces lawsuits over its X2 coaster. Peers were mixed, with United Parks & Resorts down 0.6% and Live Nation up 2%.

Shares of Six Flags Entertainment fell more than 10% in after-hours trading Monday, reversing a 4.5% gain in the regular session, after reports of a deadly roller coaster incident at Six Flags Over Georgia in Cobb County. Citing local police, the report said one person died and several others were injured in an incident involving the 200-foot Goliath coaster shortly before 4 p.m. Witnesses said a man fell from the ride and struck it several times, and riders were later evacuated after the coaster stopped near the top. Six Flags said it was cooperating fully with the investigation, had temporarily closed similar attractions across its parks, and would not release further details out of respect for the family's privacy. The company's shares have fallen 22% year to date.