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Six Flags Plunges to Five-Year Low on Warning Over China Parks
Six Flags Entertainment Corp. fell as much as 19% in pre-market-the stock’s worst loss ever, after warning that troubles with its planned China theme parks will hurt revenue – and could lead to all of the projects being canceled.
The stock tumbled as low as $35.28 in New York trading Friday, its lowest intraday level since October 2014.
Six Flags said its Chinese development partner, Riverside Investment Group, “continues to face severe challenges due to the macroeconomic environment and the declining real estate market in China” and had defaulted on required payments to Six Flags. Riverside didn’t immediately respond to a request for comment.
Six Flags is developing parks in Haiyan, in Zhejiang province, and in the Bishan district of Chongqing, according to its website.
The domestic market provided Six Flags no respite. The Grand Prairie, Texas-based company said attendance at its North American parks fell “due to softer than expected season pass and membership sales, primarily during the holiday sales periods.” That probably reduced fourth-quarter revenue by $8 million to $10 million compared with the year-earlier period, Six Flags said. Six Flags shares were down 19% last year, while peer SeaWorld Entertainment Inc. rose 44%.
https://www.bloomberg.com//news/articles/2020-01-10/six-flags-plunges-on-warning-it-may-cancel-all-china-projects
https://old.nasdaq.com/symbol/six/institutional-holdings
busy north okie down to coast
they ditch the div on SIX it's over
yes, when that many in short period of time it's something. saw one land in spooksville about 45 minutes ago too
RAF A332 (hauling ass) and C-17 in vicinity
until they clean that entire place out I will reserve judgement on this new appointee.
yes you do faggot.
funny shit. 'scuse me while I take a break to laugh at you.