Why Cedar Fair's Stock Rose 57% in April
Shares of Cedar Fair (NYSE: FUN) rose a whopping 57.3% in April, according to data provided by S&P Global Market Intelligence. This comes on the heels of a 60% drop in March. The disparate monthly moves seem fitting for a company with roller coasters in its amusement parks, although it's surely not amusing for shareholders who are still down over 50% year to date.
Cedar Fair's stock obviously dropped in March because of the COVID-19 pandemic. The health crisis is disrupting any business that relies on large crowds. Now, April's gains are attributable to fresh liquidity, investor hopes for a reopening, and a broad market rally.
Image source: Cedar Fair.
Source Fool.com
