Six Flags spikes 12% on plans for first park reopening in June

• Six Flags stock rocketed as much as 12% higher on Tuesday after the company revealed plans for its first park reopening.
• The company's Frontier City park will partially reopen on June 5 with an online reservation system, temperature checks, and other safety measures implemented to reduce contact.
• The park will gradually increase attendance throughout the month if the test period is successful, the company added.
• Watch Six Flags trade live here.

Six Flags stock leaped as much as 12% on Tuesday after the company announced its first park reopening will take place in early June.

The firm's Frontier City park in Oklahoma City will reopen on June 5 at limited capacity, Six Flags said in a Tuesday release. Staff will use an online reservation system to manage attendance and employ temperature checks, touchless bag checks, and mobile food ordering to avoid unnecessary contact.

The park will gradually roll back attendance limits throughout the month after an initial test period, Six Flags added.

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"Frontier City, like all Six Flags parks, is an outdoor attraction that poses a significantly lower risk of exposure than indoor venues. Our guests are not confined to one space for lengthy periods," Mike Spanos, CEO and president of Six Flags, said in a statement. "Because our parks cover dozens or even hundreds of acres, we can easily manage guest throughput to achieve proper social distancing."

The company is the latest to reboot park operations after months of closure. Disney recently reopened part of its Orlando, Florida, location, while Universal Studios presented plans last week to bring its Florida park back online.

Six Flags traded at $26.09 per share as of 1:00 p.m. ET, down 43% year-to-date.

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