Palace gains 75% since split announcement

Jamaica Stock Exchange slipped at the end of trading Wednesday, but the Junior Market rose to recapture nearly all of yesterday’s loss. Palace Amusement jumped just over $264 after rising $201 yesterday in response to a proposed stock split and is up 75 percent since the announcement after trading on Monday. At the close of the market, the volume traded declined from that on Tuesday but the value was marginally higher.
At the close, the Combined Market Index dropped 315.68 points to 352,029.70, the JSE Main Index declined 957.35 points to 338,955.50, while the All Jamaica Composite Index shed 2,883.94 points to close at 381,106.29, the Junior Market recovered almost all of the more than 72 points decline on Tuesday after jumping 63.42 points to close at 3,903.81 and the JSE US dollar market rose 2.54 points to 228.96.
Trading ended, with 12,607,683 shares changing hands, for $266.2 million, versus $265.5 million, with 17,483,473 shares traded in all markets on the previous trading day. The JSE USD market ended with the value of stocks traded amounting to US$5,493 from US$5,795 on Tuesday.
The market’s PE ratio ended at 22.3 based on 2021-22 earnings and 12.8 times those for 2022-23 at the close of trading.
Investors need pertinent information to successfully navigate many investment options in the local stock market. The ICInsider.com PE ratio chart and the more detailed daily report charts provide investors with regularly updated information to help decision-making.
Investors should use the chart to help make rational investment decisions by investing in stocks close to the average for the sector and not going too far from it unless there are compelling reasons to do so. This approach helps to remove emotions from investment decisions and put in on fundamentals while at the same time not being too far from the majority of investors. Investors who buy when the price of a stock is close to the average will find that they are not inclined to overpay for a stock.
The ICInsider.com PE Ratio chart covers all ordinary shares on the Jamaica Stock Exchange. It shows companies grouped on an industry basis, allowing easy comparisons between the same sector companies and the overall market.
The net asset value of each company is reported as a guide to assess the value of stocks based on this measure quickly. The chart also shows daily changes in stock prices and the percentage year to date price movement based on the last traded prices. Dividends payable and yields for each company are shown in the Main and Junior Markets’ daily report charts that show the closing volume for the bids and offers.
The EPS & PE ratios are based on 2021 and 2022 actual or projected earnings, excluding major one off items. The PE Ratio is the most popular measure used to determine the value of stocks.