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Six Flags To Be Delisted From The NYSE

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Post April 11th, 2009, 12:21 am
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Six Flags Inc. will be delisted from the New York Stock Exchange on April 20, after failing to meet the NYSE's quantitative listing criteria.

"The delisting of our common stock is a by-product of the inherited debt load on our balance sheet and the overall financial markets,?????? said Six Flags President and CEO Mark Shapiro, in a news release. ??????In no way does it reflect the operational strength or turnaround of this company. This development will have zero impact on our park operations, the guest experience this summer or our vendor relationships."

Six Flags (NYSE: SIX) will not appeal the NYSE's decision.

The company has hired financial and legal advisors to help it restructure its outstanding debt and preferred securities, which will lead to the issuance of a significant number of shares of common stock to the holders of the company's restructured securities. Six Flags said it believes the restructuring will let it qualify for listing on a national securities exchange.

Six Flags operates Atlanta's Six Flags Over Georgia, American Adventures and Six Flags White Water theme parks.
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Post April 11th, 2009, 12:53 am

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Im not surprised, their stock is rediculous.
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Post April 11th, 2009, 1:25 pm

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So just out of curiousity what does this do to people like me who threw a little bit of mone into the stock while it's been so low. I have 400 shares at 26 cent a share through Sharebuilder.com. I just threw a 100$ at it hoping for a quick profit which hasn't come. i didnt put in too much knowing i might never see it again.

Post April 11th, 2009, 1:46 pm
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Yeah, I'm kind of concerned about this too. I have 400 shares also.

Post April 12th, 2009, 3:44 pm

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My money is it was delisted because someone on the NYSE Executive Board REALLY hates the name "Bizarro" and thus, is punishing them through the only logical means available.
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Post April 13th, 2009, 12:16 am
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NYSE gave Six Flags a long time to comply with the $1.00 share limit. I guess that reverse stock split thing was all talk and nothing else.

Post April 13th, 2009, 8:57 am

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I bought some stocks at 0,15$, something that has been a pretty good investment considering they are aaround 0.26$ now. I've tried reading a bit, and it seems like the share holders still hold their part after a delisting. Don't know if it applies to us as we have a very few stocks though. Anyone know more? Should we sell?
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Post April 13th, 2009, 9:11 am

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Money Advice: Before you invest in any stocks of any companies, read some books on investing. Now there's a novel idea. Takes a little time and research also. I remember reading a book called "WIPE OUT", written by a guy who lost all his money in a bull market. That's right, a bull market. Investing in stocks is not for everybody. Some people would do better just puting their money in a bank certificate of deposit.

Oh, and when you do decide to invest in the market, make sure you get delivery of the stock certificates and have them in your name. By doing that, you get company reports and dividend checks sent directly to you, not your stock broker.

And did I mention to do a little research before you invest? I think so.
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Post April 13th, 2009, 9:38 am
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I have stocks in many areas. Most in gold, corprate real estate (WTC and Empire State Building stuff), and oil among others. Needless to say after 9/11 I toke a major hit for all three of those areas. Most of them have turned around but I still am waiting for the One World Trader Center (Freedom Tower) to be finished so I can get a nice jump.......hopefully.

Post April 16th, 2009, 11:47 pm

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You don't want to sell if you don't want too. If you have stock in them and they get desisted it doesn't mean you will lose it, it just means it has to get to 1.00 or more before it gets off the pink list. But 80% of all companies that go on the pink list will not survive. So do what you want.

That's my .02!!

Post April 17th, 2009, 2:11 pm
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Well, I guess there is a reason why buying Six Flags was a speculative move for me. I was hoping that Obama would rescue the economy and families would start going to amusement parks again, thus rescuing it and making me a ton of money, but it's not looking like it's gonna happen now. The stock has dropped from .30 to .16 in just the last week now since the news came about it's de-listing.

In better news though, I'm making a fortune off the bank/auto failures. People oversold Morgan Stanley and Ford like crazy, and now I've booked a 300% and 200% profit on the both of them respectively. Yay, panic!

Post April 17th, 2009, 2:36 pm

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Originally posted by Trackwalker

Money Advice: Before you invest in any stocks of any companies, read some books on investing. Now there's a novel idea. Takes a little time and research also. I remember reading a book called "WIPE OUT", written by a guy who lost all his money in a bull market. That's right, a bull market. Investing in stocks is not for everybody. Some people would do better just puting their money in a bank certificate of deposit.

Oh, and when you do decide to invest in the market, make sure you get delivery of the stock certificates and have them in your name. By doing that, you get company reports and dividend checks sent directly to you, not your stock broker.

And did I mention to do a little research before you invest? I think so.


I realise what I sounded like [:)] The reason I asked is because I trace primarilly on OBX, the Norwegian stock Exchange. This whole Six Flags thing was just a idea, and my first trade at an American stock exchange. I thought if they manage to get out of their debt i might turn into a good investment. If not, I didn't invest a lot and it wouldn't be a big loss. I usually follow a much more conservative investment strategy, and have been making a pretty nice profit the last couple of days [:)]

I talked to my broker, and I will still be able to sell at OTC through them. I'm not to concerned about this. As it looks this was a bad move, but I always knew it was gonna be a gamble, and if they come through it might still turn out to be a good one!

Anyone else think Six Flags might get through this? Or do you believe they have to file for chapter 11?
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Post April 17th, 2009, 5:52 pm
cjd

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Ack! Down to .13 now... that's down almost 60% in the last week.

Post April 21st, 2009, 10:58 pm

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Nosferatu, I think you invested wisely because if you do lose, the loss won't break you. First thing you want to remember when you invest in stocks is, "DON'T INVEST ANY MORE MONEY THAN YOU CAN AFFORD TO LOSE."
Trackwalker


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