Cinemark (CNK) Stock: Why The Price Increased Today

By Amit Chowdhry ● Nov 29, 2021
  • The stock price of Cinemark Holdings, Inc. (NYSE: CNK) increased by 1.37% today. This is why it happened.

The stock price of Cinemark Holdings, Inc. (NYSE: CNK) – one of the world’s largest and most influential movie theatre companies – increased by 1.37% today. Investors are responding positively to Cinemark Holdings announcing it reached a new COVID-era high for children’s tickets sold at its theatres from November 22 through November 28.

This is considered a meaningful milestone in exhibition’s recovery, underscoring families are excited to return to the movie theatre and experience compelling family films on the big screen in the shared and immersive entertainment environment that only the cinema can provide.

Thousands of family members visited theatres to watch this year’s newest family films in the most immersive environment possible. And November 22 through 28 was Cinemark’s highest week of children’s tickets sold during the COVID era. Family-fun films – including Sony’s Ghostbusters: Afterlife, Disney’s Encanto and Paramount’s Clifford the Big Red Dog – drew multi-generational audiences to create memories while enjoying the cinematic experience together.

The third quarter saw a significant increase in attendance and October was the company’s highest grossing box office in the COVID-era. And Cinemark looks forward to welcoming even more families to its theatres for compelling content yet to come in 2021 and 2022 like Illumination’s Sing 2 and Minions: Rise of Gru as well as Pixar’s Lightyear and more.

KEY QUOTES:

“Moviegoing is a decades-long treasured family pastime, and we are thrilled that families chose to spend their time together in Cinemark auditoriums watching great new movies on our larger-than-life screens with booming surround sound. There is truly nothing quite like sharing the awe of being transported into new worlds and captivated by an on-screen story with your loved ones. Congratulations to our studio partners for creating content that brought families into our cinemas to make lasting memories together.”

— Wanda Gierhart Fearing, Cinemark Chief Marketing and Content Officer

Disclaimer: This content is intended for informational purposes. Before making any investment, you should do your own analysis.