Saturday 4 April, 2020

Palace Amusement stock gets Black Panther boost

A scene from the record-breaking Black Panther movie.

A scene from the record-breaking Black Panther movie.

The price of Palace Amusement stocks all but doubled on Wednesday’s trading as investors are already expecting record earnings from its continuous sold out shows of Black Panther.

The stock grew 96.4 per cent to $1,100 from $560. 

Trading on Thursday will open with holders of the stock asking to sell at $1,100 and buyers bidding to buy at $740.

The third quarter results which ends in March will outline the impact the film will have on the company's top-line revenue.

Black Panther topped box office locally for the past month with Palace adding a series of additional shows during the week with more on the weekend in order to keep pace with demand.

Honey Bun was the day’s top loser down 12 per cent to close at $4.22 with 130,000 units.

The JSE Combined Index advanced by 466.81 points (0.15 per cent) to close at 303,239.87. The JSE Index advanced by 1,118.05 points (0.38 per cent) to close at 295,390.81.

The JSE All Jamaican Composite Index advanced by 1,227.13 points (0.38 per cent) to close at 324,208.73.

The JSE Select Index advanced by 36.79 points 0.41 per cent) to close at 8,973.51. The Junior Market Index declined by 52.05 points (1.76 per cent) to close at 2,899.61, while the JSE USD Equities Index closed at 167.85

Overall Market activity resulted from trading in 48 stocks of which 21 advanced, 22 declined and 5 traded firm.

Market volume amounted to 16,965,761 units valued at over $181.3 million. Lasco Distributors Limited was the volume leader with 5,474,396 units (32.3 per cent) followed by Jamaica Producers Group Ltd. with 3,598,442 units (21.21 per cent) and WISYNCO with 2,127,214 units (12.54 per cent) .

Get the latest local and international news straight to your mobile phone for free: