Cedar Fair Stock Drops 20%

I just noticed that along with all the other crazy stock drops today that Cedar Fair dropped to it's lowest level since 1996, closing at around 14 dollars a share. Looking at this chart it looks like right around 4PM the volume spiked and the drop started.

In brighter news, Six Flags actually had a 5 cent gain today to 45 cents. Yahoo!

$14 a share? Well, I guess my dividends will be buying more. That is the upside.

The day of the $700 drop the only stock on the S&P to go up was Campbell's Soup. I don't think the drop to FUN should be considered anything more than the overall tanking of the market.

I agree, I just thought it was a good CP/CF supplement to the top news story of the day.

^ - the news isn't so much in the drop, but in the fact that the sell off was in the final hour or so of the market being open. Things were holding stable until about 3, and then it all went to hell.

Too bad we had to pass that "bailout", at this point its like trying to stop a freight train with a flea.

Yeah, I found it odd that CF's stock held steady all day, despite the volatility of the market today, but then around 4, there was a surge of about 67,000 shares moving, and it tanked.

^ - Well, the entire DJI showed about 11 million moving at 3:59. Through most of the day it was in the mid hundreds of thousands. Something put Wall Street on a run at the end of the day. It will be interesting (scary?) to see how the foreign markets react tonight.

That's where the real problem is. When the crisis first hit the US, everyone (myself included, I'm not going to lie) was looking at it as a Wall Street only problem. Then last weekend, the foreign markets went on a run. This thing has spiraled rather quickly.

I am sure right now that DK is a little upset with the drop. Just think how many stocks he has in the company.

1,330,833 to be exact.... as of April 17

So that, multiplied by the drop today means a loss of 5,549,573.61... pocket change ;)

Oh bummer...now it is only valued at $18 million plus. He must be ****** off.

I wish I could be that kind of pissed too.

But I'll settle for night at the bar pissed. Oh, and only 2 hours till the banner goes up.

For those playing at home, that's a 13.4% return from the distribution alone.

The market has become completely irrational. Six Flags is up 15% today. Volume on FUN was three times normal today, with someone selling a butt-load in the last hour. All of the early indications were that, as of the end of the regular season, Cedar Fair did better than expected. Not sure where this fear comes from.

The funny thing is the top story on Google Finance is that the Debt Clock ran out of digits today. No wonder the stock market is going under. We have a fiat currency!

On another note, I kind of hope Six Flags gets kicked off the NYSE. :)

Banner is up. Just saw it in HD :)

So...I'm not an investor or anything, but I appreciate the efforts of Jeff and others to explain the market to me...

My question to all of you is this: where do you see the market ending up? Let's put a scale of 6 months up: is this truly a freight train headed for a fiery explosion, or can it be re-routed?

Time for me to buy some FUN stock. Buy low, sell high!

I would wait a few quarters before buying FUN, to see how they are managing their debt in this volatile economy. If they should violate a loan covenant, and as a result are forced to stop the distribution, watch the stock drop like a rock into the single digits. Hopefully that won't happen, but I would wait and see before investing a bunch of money.

Woah =(

What banner are we talking about?

mk522 said:
My question to all of you is this: where do you see the market ending up? Let's put a scale of 6 months up: is this truly a freight train headed for a fiery explosion, or can it be re-routed?

At this point, even the pros don't know. Two weeks ago, this was thought to be a US crisis. That has obviously been shown to be false. Last night, the overseas (Nikkei and Europe) dropped. That is NOT a good sign for Wall Street.

The analysts are worried to call this what it is because panic begets panic, but we are seeing a crash. Whether the international community can come up with something to cushion it and stem some of the problems we'll have to wait and see. The G7 (think G8 but without Kung-Fu grip Putin) are meeting today to see if they can come up with something. The big thing will be to see if they CAN come up with something and if the markets like the idea.

So, with all that, I don't think anyone knows where we'll be in 6 months. There are too many variables in play for anyone to know.

We really don't know where the bottom is at this point, which is why I think everyone is freaking out. But all throughout history, things eventually swing the other way. What we don't know is how much pain and suffering will happen in between.