Shares of amusement park company Six Flags Entertainment (NYSE: SIX) jumped as much as 11.1% in trading on Wednesday after reporting fourth-quarter 2020 results. Shares were off their highs but still up 4.1% at 3:40 p.m. EST.
Fourth-quarter revenue dropped 58% to $109 million, and net loss for Six Flags was $86 million, or $1.00 per share. On the plus side, spending per guest jumped 17% to $47.00, and management is confident that business will continue to improve in 2021.
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Why Shares of Six Flags Entertainment Popped 11.1% on Wednesday