Update: SIX Flagging

Dan Snyder’s cheerless theme park chain, Six Flags, will debut a cheerleading squad, the Thrilleaders, at its New Jersey outpost on July 4.

Six Flags boasts that the Thrilleaders are the first official cheerleading squad ever put together by an amusement park company.

Snyder’s operation hasn’t had much to wave pom-poms about lately.

Not with the company’s stock crashing to a buck a share during Tuesday’s trading.

And word getting out that Dwight Schar, one of Snyder’s Redskins partners and a member of Six Flags’ board, began dumping two million of his Six Flags shares last week.

And, um, Saturday’s decapitation of a teenage visitor to Six Flags Over Georgia by the Batman rollercoaster.

But, long before the Thrilleaders came about, Six Flags already had an unofficial cheerleader: Some guy named Rick Munarriz of the stock tout site Motley Fool.

Yesterday, as Six Flags stock (SIX) was continuing its descent toward double figures, Munarriz had the stones to write that “the chain is clawing its way back” and made yet another pitch for Six Flags stock.

Wha?

Munarriz’ previous Six Flags writings have been just as full of bullishness. For whatever reason, he’s been touting the company since shortly after Snyder took over, when SIX was trading at more than $10 a share.

He’s never let the near-total collapse of SIX get in the way of his cheering.

Last June, in a post headlined “Six Flags Rocks Around the Clock,” Munarriz hailed several moves Snyder’s management team had made, and was particularly taken with the partial purchase of Dick Clark Productions from Red Zone LLC — a bizarre transaction that essentially amounted to one of Snyder’s private equity outfits (Red Zone) making a $40 million sale to one of Snyder’s public equity outfits (Six Flags).

In any case, Munarriz called Six Flags’ acquisition “brilliant.”

On November 2, 2007, Munarriz posted a column headlined “Four Stocks That Should Quadruple Soon,” and included Six Flags in the mix. As of yesterday, Six Flags stock had lost more than two-thirds of its value since that post.

Brilliant.

Keep the dial right here for all the breaking news in Snyder’s Six Flags soap opera.

This entry was posted on Wednesday, July 2nd, 2008 at 11:59 am and is filed under Dan Snyder, Sports, Uncategorized, Washington Redskins. You can follow any responses to this entry through the RSS 2.0 feed. You can skip to the end and leave a response. Pinging is currently not allowed.