NEW YORK ( TheStreet) -- It hasn't been a good Monday morning for Six Flags (SIX - Get Report). Breaking down what to make of it are TheStreet's Jim Cramer and "Mad Money" Research Director Nicole Urken.
As if a top- and bottom-line earnings miss wasn't going to put enough downward pressure on the stock, the tragic report of a roller coaster death isn't helping matters.
But has the pullback created a buying opportunity? Perhaps not yet, Cramer says. He said that it's usually best to give the stock a few days to react to the news and allow investors to get a better feel for what's really happening.
While the early summer weather did slow down theme park operators, Cramer said he expects there to be a strong finish to summer. Rather than Six Flags, though, he's advocating that investors buy Cedar Fair (FUN - Get Report) instead.The company just reaffirmed its fiscal year guidance, suggesting that revenues and earnings should be fine going forward. Regarding the recent distaste for high-dividend-paying stocks, Cramer said he was no longer worried. With interest rates turning lower, "Cedar Fair is the place to be," he concluded. -- Written by Bret Kenwell in Petoskey, Mich. . Follow @BretKenwell
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