Cramer's Call: Six Flags CEO Mark Shapiro
Six Flags is a company that Cramer thinks has embarked on a major turnaround. This past quarter wasn’t all that important, as it only represented 5% of the theme park company’s yearly attendance, but it still looked pretty good to Cramer. Is he being premature in thinking that could be signaling something bigger at the company? He got Mark Shapiro, CEO of Six Flags, on the line to find out.
“From your lips to God’s ears,” Shapiro tells Cramer. He says the company is well-positioned for a great summer season. Group sales and season passes are good early indicators of how the season will be, he says, and right now they are showing that Six Flags could be ready to “knock it out of the park” this summer, so to speak.
“We have to deal the hand we’re dealt,” he says. This is why corporate alliances and sponsorships are an integral growth metric because they inoculate the company from the weather. But the ultimate goal is to increase the value proposition for guests of the theme parks, Shapiro says. If there’s good word of mouth, that’s the best advertising the company can get.
Cramer’s been backing Shapiro since the stock was at $4. Now it’s at $6, and Cramer is sticking with him. The turnaround could be just around the corner.
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