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Six Flags' stock may have gotten hit after a weaker-than-expected earnings report in July, but CEO Jim Reid-Anderson told CNBC that he has since only reaffirmed his faith in the company. He bought $3 million of the stock Friday because, he said, "I believe that the stock price, where it is today, doesn't reflect the true value of this company."
Read more from CNBC.
Well he might have been just a bit premature. While the park doesn't have assets in the Gulf region that would be impacted by Harvey, the Labor Day weekend weather does not look good for the Northeast Corridor (SFGAdv, SFNE, SFA, and probably Great Escape), and rain on Sunday for Chicago for the Labor Day weekend. While one weekend doesn't kill the quarter, it certainly won't help. Suggestion, hold off until after labor day to buy.
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