Investing.com - The shares of publicly traded theme parks with facilities in Florida were rebounding on Monday as damages were assessed in the wake of Hurricane Irma, with closed parks likely to open on Tuesday.
Monday's ascent comes after shares plunged last week ahead of Hurricane Irma's landfall over the concern that there would be some major revenue losses if facilities suffered damages that resulted in closures. But, Hurricane Irma’s worst case scenario did not play out, and that is giving investors reason to buy back into these companies following the dip ahead of Hurricane Irma’s landfall.
According to CNBC, Walt Disney Company (NYSE:DIS) is planning on opening on Tuesday while SeaWorld Entertainment Inc (NYSE:SEAS)issued a statement saying it would reopen its Orlando park Tuesday. Disney noted that they experienced high winds and rain during the storm, but they were able to keep power.
Disney shares were fractionally higher while SeaWorld's shares added 5%, regrouping all of the losses experienced ahead of Irma’s landfall. Six Flags Entertainment New (NYSE:SIX)and Cedar Fair LP (NYSE:FUN) also trekked higher.