Why Six Flags, SeaWorld, Cedar Fair, and Disney Stock Rocketed Higher on Monday

Shares of SeaWorld Entertainment (NYSE: SEAS) jumped as high as 20% by 1 p.m. on Monday, April 27, before giving back some of its gains. Amusement park peers Six Flags Entertainment (NYSE: SIX), Cedar Fair (NYSE: FUN), and Walt Disney (NYSE: DIS) also rose dramatically, hitting gains of 15%, 10%, and roughly 4.5%, respectively, around 1 p.m. They, too, started to pull back a little after that peak. There was no specific news about any of the individual amusement park owners that drove the sharp rise. It was all related to investor excitement surrounding what appears to be the initial stages of COVID-19 social-distancing restrictions being eased.

There wasn't really a dramatic shift in any of the social distancing and stay-at-home rules in any of the states; it was simply a couple of states starting to allow nonessential businesses to reopen after being forcibly shut to help slow the spread of the coronavirus pandemic. Other states began to discuss the same idea with a bit more intensity than before but didn't actually change their current position on social distancing.

Image source: Getty Images.

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Source Fool.com