Six Flags, the amusement-park chain whose stock the past two days has resembled one of its roller coasters, had a record gain in New York trading after forecasting its first-ever year of positive free cash flow.
Six Flags surged 39 cents, or 81 percent, to 87 cents as of 4 p.m. in New York Stock Exchange composite trading, more than making up the stock’s loss from yesterday, when it dropped 37 cents in its heaviest trading day in two years. Today’s gain was the biggest advance since Premier Parks Inc. bought the theme park in 1998 and took its name.
“Our performance to date has us positioned to be free cash flow positive for the first time in the history of the company,” Chief Executive Mark Shapiro said Thursday in a statement.
The company also said guest approval ratings on safety, cleanliness and value are “at or above all-time highs,” citing surveys done by Hatboro, Pennsylvania-based Delta Market Research at 12 of Six Flags’ 21 parks.
Wednesday, at least 11 million shares, or 66 percent of the day’s volume, were sold at 25 cents in a span of about five minutes, according to data compiled by Bloomberg. That was 71 percent below the previous day’s closing price of 85 cents.