Shares of Six Flags Entertainment Corporation plunged more than 10% after a death at Six Flags Over Georgia, near Atlanta, erasing about $170 million from the company’s market value. Emergency responders and police were dispatched to the park’s signature Goliath roller coaster.
Witnesses and initial reports said a man fell from the ride, killing him and injuring several other riders. Video posted online shows park employees helping stranded passengers off the coaster while first responders secured the ride.
Stock slides amid activist pressure and weak attendance
Six Flags shares fell sharply in trading after the news, extending a slump that has seen the stock drop about 40% over the past year. The timing is significant, as the parks prepare for large fall and Halloween events that have historically been major contributors to fourth-quarter visitation and season pass sales.
The company has also faced pressure from activist investors. Jana Partners bought a large stake alongside other high-profile investors, seeking change and strategic alternatives in response to revenue headwinds and declining attendance.
Investigation and temporary closure of Goliath rides
Local police and park officials have launched a comprehensive investigation into what led to the incident. The company said it is cooperating with law enforcement.
Six Flags has temporarily closed the Goliath ride and all similar rides at its other parks until the investigation concludes.
