Six Flags Stock Hits 7-Year Low After Roller Coaster Death: What It Means for Jana Partners, Travis Kelce

Shares of theme park operator Six Flags Entertainment Corp (NYSE:FUN) have hit seven-year lows Tuesday as news of the death of a roller coaster rider Monday spreads. Here’s the latest and what the news could mean for an activist push for a sale of the company. • Six Flags Entertainment stock is testing key support levels. Why did FUN hit a new low? Death at Six Flags Over Georgia Already facing pressure this year, Six Flags stock hit new lows Tuesday as more news surfaces about the company’s Six Flags Over Georgia theme park. A 42-year-old man died Monday at the company’s Georgia theme park while riding the Goliath roller coaster, according to CNN. The victim fell from the roller coaster and "hit the car three different times" before falling onto the roof of a nearby attraction, according to the report. "Preliminary information gathered through witness and employee interviews indicates (the victim) was ejected from the ride and struck other patrons before falling beneath the attraction," Cobb County Police Department’s Major Crimes Unit said. The male was found unresponsive and not breathing by police. The theme park evacuated Monday and plans currently call for a reopening on Friday. "The park is currently only open for weekends. Yesterday it was open due to the holiday," spokesperson Sara Gorgon told CNN. The Goliath ride and other similar rides were closed at other Six Flags theme parks across the country. Goliath is a hyper coaster-style ride made by Bolliger & Mabillard, a Switzerland-based company. The manufacturing company said it was "actively investigating the accident." CNN reports that the death comes several weeks after the X2 ride was closed at Six Flags Magic Mountain in California after a CNN investigation reported injuries and deaths from the ride. Read Also: Six Flags Analyst Ratings and Price Targets Activist Puts Pressure on Sale The timing of the death at the theme park could complicate a push for a sale of the theme park company by activist investor Jana Partners. Jana Partners previously teamed up with NFL superstar Travis Kelce and other investors to take a stake in the theme park operator valued at around 9% of the company. Jana took an initial stake in Six Flags Entertainment of 4,049,940 shares in the third quarter of 2025. That stake was worth an estimated $117.6 million at the end of the third quarter of 2025, out of a total of $200 million invested in the company by the announced group. The activist stake comes after the stock price had fallen significantly since the merger of Six Flags and peer Cedar Fair in 2024. Among the pushes by Jana were for changes to the board of directors, to push the chairman to leave the company, change financial guidance and consider a sale of the company. The activist investor was able to get the chairman replaced in March 2026. Six Flags also sold seven properties for $331 million in March 2026. Six Flags separately named Kelce a brand ambassador in March, a 2026 partnership covering social content and the use of his name, image and likeness in broadcast, streaming and in-park marketing. In September, Jana Partners again pushed for a sale of the entire Six Flags company. That push could face pressure now after the unfortunate news of the death at the theme park. There will likely be legal challenges from the man’s family and from anyone else who was injured Monday. Others who witnessed the event could also push for legal challenges on items like emotional distress. It is unlikely that a company or private equity investor will acquire Six Flags until the legal challenges come to fruition, as the current liability amounts are hard to estimate. Six Flags Stock Price Action Six Flags stock is down 16.5% to $9.96 on Tuesday, the stock’s lowest level since December 2009. Shares are down 35% year-to-date in 2026. Read Also: Jana Partners Buys Stake in Data Center Stock Everpure, May Be Up Almost 100% Already Photo: Generic roller coaster ride via Shutterstock