SIX - Why SeaWorld and Six Flags Jumped 10% Out of the Gate on 4/29
Shares of Six Flags Entertainment (NYSE: SIX) and SeaWorld Entertainment (NYSE: SEAS) both rose more than 10% within the first half hour of trading on April 29. That comes after a couple of fairly solid days for these amusement park operators. There's two pieces of good news here.
COVID-19-related social distancing restrictions have, understandably, led amusement parks to shut down. So news that a handful of states were starting to reopen nonessential businesses, with others at least starting to look at the prospects of doing so, has gotten investors excited about the future for park owners like Six Flags and SeaWorld. That's been a driving force over the last couple of days. It makes sense, but there are still big hurdles to overcome even if these companies reopen their facilities.
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