Why Six Flags Entertainment Stock Jumped Today
Shares of Six Flags Entertainment (NYSE: SIX) rose more than 13% on Thursday. Following its third-quarter financial report, the theme park operator reached a deal with H Partners that will allow the investment firm to increase its ownership stake.
Under CEO Selim Bassoul, who took the company's helm in November 2021, Six Flags is implementing a daring new strategy that hopes to improve the guest experience by lowering attendance levels. To do so, Six Flags is raising its ticket prices to bolster profitability, while using some of the proceeds to invest in new rides and attractions.
The first part of that plan is working. Attendance at Six Flags' parks plunged 33% year over year to 8 million guests in the third quarter.
Source Fool.com
