Daniel Snyder, the owner of the Washington Redskins football team, purchased 8.8 percent of Six Flags in August with the hopes of helping the company out of it's financial problems. That hope has ended, as Snyder has decided it would be best to pull out his investments.
Although his stocks increased $3.8 million over the course of 20 weeks, Snyder felt that the company board was refusing to make the necessary changes. In a letter to the director of Six Flags, Snyder wrote that the company cannot continue to blame it's dire financial situation on the weather and economic problems. Many people saw Snyder's investment as a sign of hope for Six Flags.
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Six Flags stock closed today at $4.93, a decrease of 22 cents.