In This Article:
We recently compiled a list of the 10 Stocks Plummet on Wednesday. In this article, we are going to take a look at where Cinemark Holdings, Inc. (NYSE:CNK) stands against the other stocks.
The stock market ended firmer on Wednesday, with all major indices finishing in the green territory as investors weighed news of President Donald Trump’s imposition of a new round of tariffs while digesting minutes of the Federal Reserve.
The Dow Jones rose by 0.16 percent, the S&P 500 increased by 0.24 percent, while the tech-heavy Nasdaq eked out a 0.07 percent gain.
Ten companies bucked a broader market optimism, posting heavy losses, mostly due to disappointing earnings performance last year.
To come up with Wednesday’s worst performers, we considered only the stocks with $2 billion in market capitalization and $5 million in daily trading volume.
A ticket booth outside a theatre, directing customers to the films of the day.
Cinemark Holdings, Inc. (NYSE:CNK)
Shares of Cinemark Holdings, Inc. (NYSE:CNK) declined by 13.58 percent on Wednesday to finish at $28.57 each as investor sentiment was dampened by missed earnings estimates.
In its earnings release, Cinemark Holdings, Inc. (NYSE:CNK) said earnings per share for the fourth quarter of 2024 stood at $0.33, lower by 19 percent than the $0.41 as estimated by analysts.
However, Cinemark Holdings, Inc. (NYSE:CNK) swung to a net income attributable to the company of $51.3 million from a net loss of $18 million in the same period a year earlier, as revenues increased by 27.5 percent to $814.3 million from $638.9 million year-on-year.
For the full year 2024, net income attributable to the company was at $309.7 million, a 64.55-percent surge from a net income of $188.2 million in 2023. Diluted earnings per share last year was $2.06 compared with diluted earnings per share of $1.34 in 2023.
Overall CNK ranks 5th on our list of the stocks that plummeted on Wednesday. While we acknowledge the potential of CNK as an investment, our conviction lies in the belief that AI stocks hold greater promise for delivering higher returns and doing so within a shorter timeframe. If you are looking for an AI stock that is more promising than CNK but that trades at less than 5 times its earnings, check out our report about the cheapest AI stock.
READ NEXT: 20 Best AI Stocks To Buy Now and Complete List of 59 AI Companies Under $2 Billion in Market Cap.
Disclosure: None. This article is originally published at Insider Monkey.