Dreamworld CEO Craig Davidson speaks to the media after four people died at the park. Source News Corp
Dreamworld CEO Craig Davidson speaks to the media after four people died at the park. Source News Corp

Dreamworld parent company's shares plummet

THE share price of the company which owns Dreamworld has tumbled in the wake of tragic news that four people died on a ride at the amusement park.

Ardent Leisure Group started yesterday with a share price value of $2.55 on the ASX.

Then the company announced it was selling an arm of the business which owns 76 gyms across Australia.

The sale was worth a whopping $260 million and should have seen the company's share price skyrocket as it was cashed up to the gills.

However, at 2.20pm all that began to unravel.

In the wake of the tragic news that four people had died on Dreamworld's Thunder River Rapids ride the company's share price plummeted.

Ardent share price
Ardent share price

From $2.67 at 3.30pm to $1.86 at 10am today.

There was a brief rally but with the price rising by 20 cents - plausibly because the sharp fall made it look like a good buy - however the decline has set back in and Ardent is now trading at $2.06.

The news comes as commentators speculate on whether or not the Dreamworld theme park will have to close in the wake of the closure.

"Dreamworld is currently closed until further notice due to an incident at the park," the Facebook page of the once thriving business reads.

The park may have closed but questions continue to swirl about how a tragedy like this could have occurred and whether the park had taken sufficient measures to avoid it.

And adding fuel to the fire is the fact the company's shareholders had already agreed to meet in Sydney tomorrow to discuss the company's theme parks - as well as its bowling alleys, marinas, and health centres - both in Australia and the US.

On Facebook a large number of people have taken to Dreamworld's page calling for it to be closed, however, many others have sent messages of support - particularly to the staff.

"I already had a fear of rides but now my fear is that of my life don't think I'll be going here again," Lauren Browne posted.

In contrast many others sent messages of support with Jasmin Doyle saying people should wait until the investigation into the matter was finalised.

"I ask that everyone ignore the media and it's drip fed, sensationalised garbage on this matter until the investigation has released its findings," Ms Doyle posted on Dreamworld's page.

"I'm disgusted at some of the things I've read, watched and heard. Shaming attendants, reporting on previous unrelated ride maintenance issues, focusing on the children's grief etc.

"It's time for the police to do their job and I believe them when they promise complete transparency on their findings."

Ardent Leisure Group has been contacted for comment but is yet to reply.