Six Flags Shares Plummet After Fatal Georgia Roller Coaster Crash
Six Flags shares hit a 17-year low following a fatal roller coaster accident in Georgia and mounting financial instability.
Shares of Six Flags plummeted 14.43% to $10.20 on October 13, marking the company's lowest closing level since 2009. The market decline followed the October 12 death of 42-year-old Hassan Jihad Ibn Kariem during a roller coaster incident at Six Flags Over Georgia, which also left several other guests injured. In response to the accident, the company temporarily closed nine rides across six different parks as a precaution.
The tragedy occurs as the company faces severe financial instability. Six Flags reported a second-quarter net loss of $203 million and continues to struggle with debt stemming from its 2024 merger with Cedar Fair. To generate immediate cash, the company has sold several parks to EPR Properties.
Beyond the recent fatality, the company is under legal scrutiny regarding the X2 ride at Six Flags Magic Mountain. These operational and financial pressures have led activist investor Jana Partners to urge the company to explore a total sale of the business.
