Since the last time I wrote about Six Flags (NYSE:SIX; see archives), the stock has done nothing. But I do think it’s time to revisit the story as the most important summer for the co is approaching fast. This summer appears to be the "do or die" season for Six Flags. After billionaire Daniel Snyder took the helm of the co, he and his team have geared up for this summer. They have sold some of the weaker parks, advertised a lot and sold season passes.
According to Jim Cramer (who’s also bullish on the stock) 1Q signaled a strong upcoming summer. For additional color check out Cramer's interview with Six Flags CEO Mark Shapiro.
So, by buying the stock now you expect big guys to jump in, in a verge of a BIG summer. That can happen any time soon.
How long should one hang on to the stock? Not long, I will likely sell the stock before the quarterly report (buy on rumor, sell on news). Also, don’t forget to look out from the window. If it’s raining for sixth consecutive day, get out.
From a technical perspective, the stock is in a mild uptrend, and close to the trendline. This should provide some support for the stock.
Position: Long SIX
According to Jim Cramer (who’s also bullish on the stock) 1Q signaled a strong upcoming summer. For additional color check out Cramer's interview with Six Flags CEO Mark Shapiro.
So, by buying the stock now you expect big guys to jump in, in a verge of a BIG summer. That can happen any time soon.
How long should one hang on to the stock? Not long, I will likely sell the stock before the quarterly report (buy on rumor, sell on news). Also, don’t forget to look out from the window. If it’s raining for sixth consecutive day, get out.
From a technical perspective, the stock is in a mild uptrend, and close to the trendline. This should provide some support for the stock.
Position: Long SIX
No comments:
Post a Comment