Six Flags shares hit 52-week low after fatal accident

Six Flags Entertainment Corp stock dropped 12.4% in morning trading on Tuesday to $10.44, marking a new 52-week low. The decline followed a fatal incident at the Goliath roller coaster at Six Flags Over Georgia that sent shares lower in after-hours trading on Monday.

One person died and four others were injured in the incident, which took place shortly before 4 p.m. on Monday at the park in Austell, Georgia. The Cobb County police major crimes unit opened an investigation into the cause.

Six Flags announced it temporarily closed nine similar rides across its parks nationwide. The company did not provide a timeline for when the rides would reopen.

The closures come during the Halloween season, which represents one of the company's key revenue periods. The incident occurred two weeks after Six Flags permanently closed the X2 coaster at Six Flags Magic Mountain in California.

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