Posted Thursday, July 17, 2008 3:06 PM | Contributed by Jeff
Six Flags Inc. Thursday forecast its first-ever full year of positive cash flow, sending its battered stock up as much as 81 percent -- its biggest one-day gain since going public in 1996. Performance to date has positioned the company to be free cash flow positive for the first time in its history.
Read more from The Washington Business Journal.
Thursday, July 17, 2008 3:41 PM
So basically even with a good showing six flags is still doomed because their stock didnt go above $1.06
Thursday, July 17, 2008 4:38 PM
They aren't doomed because the stock is low.
Thursday, July 17, 2008 4:52 PM
Why does everyone seem to think the stock price causes company success/failure?
A dropping stock price doesn't doom the company. A company's poor performance lowers the stock price, while good performance raises it.
This is a huge huge deal for SIX, and very good news.
Thursday, July 17, 2008 5:19 PM
Along with that, crude dropped below $130 a barrel. That helped a lot of stock prices go up today. I sure hope that translates into a drop in prices at the pump and soon.
Thursday, July 17, 2008 6:19 PM
The report I read yesterday blamed the stock's dramatic fall on one analyst's comments. He said high gas prices would affect the whole theme park industry. Gee, where have we heard that before? SF stock valleyed based on overreaction to that report, plus a very volatile market, coupled with SF low price to begin with (when the price is low, even small changes make for large percentage changes). SF is due to release its quarterly earnings report shortly - that will be interesting.
Thursday, July 17, 2008 7:25 PM
Yes but it only went up to 88 cents. Doesnt a stock get delisted if under $1.06 for a certai namount of days?
Thursday, July 17, 2008 7:29 PM
Shapiro is trying to parse words with the market . He deferred the 28 million dollar PIERS dividend which was due in April and is now adding the full 28 million to this years cash flow . He is attempting to fool people into believing performance has improved when in reality he is moving numbers around that will be due with interest to the preferred holders in '09 .
Thursday, July 17, 2008 7:58 PM
Thursday, July 17, 2008 8:43 PM
SEC form 8-k filed April 19 , 2008 .
Thursday, July 17, 2008 8:54 PM
Correction : the filing date is April 17 , 2008 .
Friday, July 18, 2008 10:50 PM
Doesn't the analyst report seem a bit reckless? My understanding was that regional theme parks like Six Flags thrived in poor economic conditions. Even with a tight budget people still do stuff, they might think twice about flying the whole family to Orlando, but will still drive a couple of hours to a park.