The stock price dropped 44% today. However when it's trading at less than a buck a share, small changes represent large percentages. It reached 25 cents per share during the day. That is amazing. I thought by restructuring some of its debt several weeks ago, it could delay bankruptcy for awhile. Although the 12% interest it accepted on those bonds certainly spoke of its desparation. The upcoming earnings report will be interesting.
Try Sharebuilder.com. The fees aren't too bad there.
Geez, at this price I may have to buy a couple hundred more shares for the hell of it. I'd hate to waste The "dividend" from my Cedar Fair units on more Six stock though. Guess I'll use soda can refund $$ instead.
Ima buy a whole sh**load of stock and pray that my faith in Six Flags does not go unrewarded. I think they can do a lot with this company, and I hope that it works. Need more cash, but as long as I keep on GOING to Six Flags, I guess I won't be buying stock, no matter how cheap it is. LOL
I just can't help but think that throwing a grand at it isn't a worthwhile investment. How low can it possibly go? Even if it only ever peaks at a buck or two, I still would make some decent money for little to no effort. Who knows, if they actually do turn the company around, it could turn out to be a great deal.
Six Flags stock peaked at $65 about 10 years ago. Even if it takes another 10 years and reaches $10, you're you're talking about a $39,000 return. If it'd actually reach $65 again (which it probably never will) you'd make $259,000 on a $1000 investment.
I bought 150 shares at $3.22 last year, it went up to just over $5, and has just dropped little by little since. Today was a real ball buster. I just bought another 75 shares to see where it goes. Its pretty wild that I paid nearly $500 for 150 shares last year, and now less then $50 for another 75 today.
Its like Rice Krispies are on sale, although I really don't like 'em, I just can't beat the price, so I'll stock up now.
Well at least you weren't one of the people who bought it at $40! :)
I actually thought of throwing a grand at it when it was between 1 and 2 bucks a share, but I'm not into individual stock buying/selling and I'm glad I didn't start. As for how low can it go, it CAN go to 0.00 and the people selling at these levels probably think that's likely.
Do yourself a favor guys and just buy an index fund. VTSMX or VFINX would be good places to start. Or one of Vanguard's Target Retirement or Lifestyle funds. Any of them give you lower costs and better diversification with less risk. That's not to say you can't lose money, but you'll never go to 0.00.