Six Flags shares close down 14.4% after fatal Georgia coaster incident

Six Flags stock decline accelerated Tuesday after reports of a fatal incident on the Goliath roller coaster at Six Flags Over Georgia. Shares of Six Flags Entertainment, which trades as FUN, closed at $10.20, down $1.72 or 14.43%, according to CNBC market data. For investors, the sequence was abrupt: the stock had risen 4.5% in Monday’s regular session before falling more than 10% in after-hours trading after news of the incident emerged.

Yahoo Finance reported that FUN was down as much as 16% during Tuesday’s trading. CNBC’s market page listed a Tuesday low of $9.80, which it identified as a 52-week low. The stock was quoted at $10.24 in after-hours trading at 7:55 p.m. EDT, up 0.39% from its close, CNBC showed.

One person died and several others were injured in the incident at the Cobb County, Georgia, park, according to reporting cited by CNBC and Yahoo Finance. CNN reported that police identified the deceased rider as Hassan Jihad Ibn Kariem, 42, of Atlanta.

What happened at Six Flags Over Georgia?

CNN reported that police said Kariem was ejected from or fell from Goliath. The cause had not been determined in the reporting reviewed. Goliath is a 200-foot roller coaster, according to CNBC.

The Georgia Office of the Commissioner of Insurance and Safety Fire has opened an investigation, CNN reported, citing an agency statement. The agency said its team would conduct a comprehensive review of the circumstances and compliance with applicable policies and procedures. CNN also reported that the ride’s manufacturer said it was investigating.

Cobb County Police Major Crimes Unit detectives were also investigating the circumstances, according to a syndicated report carried by Firehouse.com.

What has Six Flags done in response?

Six Flags said its staff and local authorities responded immediately and that it was cooperating with the investigation, CNBC reported. The company also said it had temporarily closed similar attractions at its parks as a precaution.

The precise number of closures was not consistent across reports. Firehouse.com, citing a company spokesperson, reported nine coaster closures at six other parks. CNN later reported that at least 10 coasters across several Six Flags parks in the United States and Canada had been closed. Both accounts described the actions as precautionary.

The stock moves were reported after news of the death and injuries, but the available reporting does not establish a specific reason for the market reaction. Investors will be watching for findings from the official and manufacturer investigations, along with any updates from Six Flags on the temporary ride closures.

This story draws on original reporting from CNBC.