It was not a great year for Jamaican stocks in 2023, with all three Jamaica Stock Exchange markets declining, with the Main Market dropping 9 percent, marginally below the 10.2 percent fall in the JSE Index in 2022. The Junior Market slipped 2.5 percent for the year compared to a 16.3 percent gain in 2022 while the USD market fell 1.2 percent compared with a 14 percent rise in 2022.
Main market stocks were helped considerably by the market recovering 6.5 percent since early December with the market closing with a bullish tone.
Ciboney was the Jamaica Stock Exchange best performing stock for 2023 in the Main Market with gains of 107 percent, followed by Transjamaican Highway, with an outstanding performance, ending the year up 93 percent and paid a dividend of 18.7 cents for an overall return to investors from the start of the year of 106 percent. The next best performing stock was AS Bryden, the Trinidad based, majority Jamaican ownership, up by 47 percent from the listed price of $22.50 in November. Buoyed by improved results for the fiscal year 2023 and the first quarter profit results to September, Wisynco Group 
gained 22 percent and Stanley Motta 14 percent followed by the Trinidad based Massy Holdings up 13 percent, in a year when only 13 stocks posted gains in the main market.
Losing stocks were plentiful during the year, with 38 or 78 percent decline in the Main Market.
The worst performing stock was the real estate development company, First Rock Real Estate Investments with a 46 percent decline, followed by Palace Amusement down 44 percent, Guardian Holdings sinking 39 percent, Jamaica Stock Exchange and Berger Paints both losing 37 percent, followed by Pulse Investments down 34 percent and Key Insurance with a fall of 32 percent.
Stock split to drive business for Palace
Palace Amusement stock will trade x-split starting Monday, February, with the record date of February 28 for the 600 to 1 split that will take the total number of shares to 862 million for 1.437 million currently and provide the company with added ongoing publicity.
The stock has enjoyed regular trading since the announcement of the split with the price reaching a record $3,300 and is now trading in the $2,700 range since releasing half year results with profits and revenues surging 222 percent to $486 million, with a profit of $79 million in the December quarter.
The split will result in the stock trading in the $4 to $6 region and will result in almost daily trading thus providing the company with regular publicity that it never had before based on the limited trading opportunities in the past. Such exposure could well result in a 10 to 20 percent jump in attendance as the name and product are beamed regularly on a wider audience than before.
Prices rebound on the JSE markets
The Junior Market of the Jamaica Stock Exchange markets surged on Friday while the Main Market bounced moderately over Thursday’s close, even as the price of thinly traded Palace Amusement dropped $645, and the JSE USD market edged slightly lower.
Trading ended, with an exchange of 21,991,278 shares compared with 29,715,470 units on Thursday, with a value of $203.3 million down from $285.4 million on the previous day. Trading on the JSE USD market resulted in investors exchanging US$7,760 versus US$36,261 on Thursday.
At the close, the Combined Market Index jumped 2,334.51 points to 353,613.49, the All Jamaican Composite Index rallied 1,622.56 points to 384,639.12, the JSE Main Index climbed 1,967.53 points to end at 340,317.50, the Junior Market Index climbed 53.99 points to 3,938.05 and the JSE US dollar market popped 1.30 points to close at 198.16.
The market’s PE ratio ended at 22.3 based on 2021-22 earnings and 13.7 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.
600 to 1 stock split for Palace
Palace Amusement Company advised that the Board of directors will recommend to shareholders at their upcoming Annual General Meeting to be held on January 24, 2023, that the existing shares be split into 600 units for each currently issued and that the authorised share capital of the Company be increased from 1,500,000 shares to an Unlimited number of shares.
Palace Amusement is recommending 600 to one stock split.
If the resolution if approved at the meeting will take effect from the close of business on February 28, 2023, resulting in the total issued share capital of the company being increased from 1,437,028 ordinary shares to 862,216,800 ordinary shares.
The shares were last traded on Friday at $1,179 each on the Main Market of the Jamaica Stock Exchange but jumped nearly 20 percent in Wednesday’s trading session to $1,400, leading to a suspension in trading in the stock. The move will be welcomed by many of the company’s shareholders some of whom have been clamouring for the splitting of the stock for some time and will result in greater liquidity for the stock.
Palace considering split stock
Palace Amusement Company is set to split the stock that last traded at $620 per share on Monday, with a range of 620 to $1,150 for 2022.
The company informed the Jamaica Stock Exchange that the Directors proposed to meet on Tuesday, December 20, 2022, and will be discussing the possibility of a stock split. A split is almost a certainty, with the company having borrowed over $700 million, the opportunity exists to raise fresh capital by way of an additional public issue of shares to pay down the debt. Splitting the stock to make them more attractive to retail investors would be a logical step.
To achieve an attractive price and create wide-scale public interest would require a split in the order of 100 to 200 to one of the existing issued shares and would raise the issued number of shares to between 250 to 300 million units.
Other companies talking about stock splits that could come in 2023 are Medical Disposables that could come with a stock split and a rights issue of more shares to use to fund expansion.
Palace jumps $800 to a record $2,900.
Stationery and Office Supplies informed shareholders at the recently held Annual General Meeting that the directors have been looking but currently the liquidy of the stock does warrant one just yet.
Others that should give serious consideration to splitting their stocks are Access Financial Services, with the stock trading over $20, Dolphin Cove priced in double digits, Barita Investments, Cargo Handlers, Honey Bun, ISP Finance, Knutsford Express and Main Event.
Trading drops on the JSE Wednesday
The Junior Market was the only Jamaica Stock Exchange market to record gains in Wednesday’s trading, while the Main Market declined moderately, resulting in the JSE Combined Index, a measure of the overall market, falling 620.61 points to close at three 367,538.63.
NB Palace gain on Wednesday is $40 and not $5 as shown in the chart.
The All Jamaican Composite Index dropped 1,165.48 points to 404,873.54, the JSE Main Index fell 906.66 points to 353,247.24, the Junior Market Index rose 24.95 points to 4,141.88 and the JSE USD market Index dropped 19.24 points to close at 192.29.
Trading ended, with 28,261,215 shares changing hands, at a mere $63.6 million, down from $102.4 million, with 14,308,105 shares traded in all markets on the previous day. The JSE USD market ended with the value of stocks traded at US$21,025 from US$41,204 on Tuesday.
The market’s PE ratio ended at 23.6 based on 2021-22 earnings and 12.6 times those for 2022-23 at the close of trading.
Investors need pertinent information to navigate many investment options in the local stock market successfully. 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.
Junior Market jumps 47% since March 2020
The Junior Market climbed 47 percent in just over a year since the market collapsed by just over 39 percent in March last year from the close of 2019 when the market hit a multi-year low of 2,031.79 on March 18 last year.
At the same time, the JSE Main Market, while trading above the March 2001 low, is nowhere near the 2020 high and closed out the first quarter marginally down on the 2020 closing.
The Junior Market is up 13 percent for 2021 to the end of March, clawing back most of 21 percent of the fall in 2020 and is now just 11 percent from the close of 3,348.97 at the end of December 2019.
In 2020, the Junior and Main Markets declined, with the Junior Market just edging out the Main Market index with a lower decline of 21 percent versus 22.6 percent for the year.
One year ago, to the end of March, the Junior Market Index dropped 29 percent to 2304.14 but was down a much steeper 47 percent to March 18, at 2031.79 points on the market index. The March 2020 low was the lowest point for the Junior Market since it closed at 2,032.77 points on July 1, 2016.
The market made some recovery last year from the year’s low when it moved higher on April 14, to 2,686.90 points but drifted down after some attempts to break over 2,600 points on a sustained level and closed out 2020 at 2,643.38.
In the meantime, the JSE Main Market failed to move higher in 2021, ending the first quarter 0.20 percent lower than the December close. It is still a bit lower than the 442,905.76 reached on the All Jamaica Composite Index after the early rebound from the 2020 low of 375,091.09 reached on March 25 last year, or the 438,045.18 reached subsequently on November 30.
The gains of eighteen stocks in the first quarter, this year, exceed that of the average of the market and just three performed worse, including CAC 2000 with a fall of 24 percent 19 percent decline for Dolphin Cove and 16 percent in the case of Knutsford Express. Five stocks contributing to the 2021 rebound for the Junior Market are Jamaican Teas up 60 percent, Indies Pharma 48 percent, Lumber Depot 47 percent, Blue Power 35 percent, Caribbean Flavours 35 percent and Fosrich 28 percent.
The Main Market recorded gains in 16 stocks that beat the market’s average move in 2021, with 26 falling below. Main market stocks with healthy gains are Ciboney with a stunning 142 percent rise, followed by Salada Foods with 125 percent gain aided by a 10 to one stock split, Grace Kennedy 37 percent, First Rock 31 percent and proven Investments 27 percent. Palace Amusement Company that the Covid-19 dislocation has badly hurt is the worst-performing stock with a 51 percent decline, followed by Portland JSX with a loss of 25 percent and Radio Jamaica with 22 percent. Wisynco lost 14 percent and Wigton Windfarm 13 percent.
Palace Amusement closes cinemas
In the wake of COVID 19 in Jamaica and recent reports of community spread, the management of Palace Amusement Company has taken the decision to close its four cinemas – Carib 5 and Palace Cineplex in Kingston, Sunshine Palace in Portmore and Palace Multiplex in Montego Bay – until further notice.
Carib Cinema, the flagship for Palace Amusement.
This on the heels of increased sanitization measures rolled by the Company this week to help minimize threats to valued patrons and its staff alike.
Marketing Manager, Melanie Graham says that Palace Amusement is now in unchartered territory with the uncertainties of this global pandemic. “We have been watching developments closely and staying tuned to local advisories on the virus since the news of COVID 19 broke earlier this week”, she said. “This has been a challenging week but we have made the difficult decision to close in the best interest of patrons and our employees alike. We will certainly be hard hit on many levels and at this time we are unable to project when we will resume”.
Globally the movie industry is undergoing a sharp downturn due to COVID 19, as producers and film companies continue to pull their pictures.
Among blockbusters which have been rescheduled, are the highly anticipated Fast and Furious 9 now pushed back one year to April 2021, No Time to Die, the new James Bond movie, now set be released in November and Disney’s Mulan and New Mutants which are delayed without any new release dates attached.
The fallout has also hit Alternative Content now shown exclusively at Palace Cineplex, with the Met Opera’s recent announcement of the cancellation of all performances through March 31.
“Palace Amusement wishes to extend heartfelt sympathy to all persons and families affected by COVID 19. We all have to do our part to ensure that we get through this difficult period in the best way possible.” Graham concluded.
Seasons goodies from Palace
Oscar Isaac, John Boyega, and Daisy Ridley in Star Wars: Episode IX – The Rise of Skywalker.
Palace is also offering Half Off Specials at all locations, for early and late shows, on Tuesday, December 24, with the exception of the movie Black Christmas.
Patrons at Sunshine Palace will enjoy late movies at approximately 11 pm this Saturday, December 21, Boxing Day, Thursday, December 26 and Saturday, December 28.
Black Christmas – A fight to the finish|Hawthorne College is quieting down for the holidays. One by one, sorority girls on campus are being killed by an unknown stalker. But the killer is about to discover that this generation’s young women aren’t willing to become hapless victims as they mount a fight to the finish.
Black Christmas is an American slasher film directed by Sophia Takal and written by Takal and April Wolfe. The film stars Imogen Poots, Aleyse Shannon, Lily Donoghue, Brittany O’Grady, Caleb Eberhardt, and Cary Elwes.
Star Wars: The Rise of Skywalker – The final chapter will open in Digital 3D at all Palace cinemas on Friday.
A seen from Black Christmas.
Terminator makes way for Doctor Sleep
Ewan Gordon McGregor starring in Doctor Sleep
The legendary, Terminator came to Palace Amusements’ cinema houses just over a week ago Friday with guns blazing and opening in 8 showings at the start but jumping to thirteen per day the next day, until Tuesday.
The popular series dropped to back to eight shows as of Wednesday, but by Friday the movie was in just three houses for four shows per day.
Doctor Sleep starring Rebecca Ferguson and Ewan McGregor takes over the lead position on Friday, with eight showings per day in all cinemas.
On Wednesday, Harriet entered the Jamaican cinemas with four shows per day. Motherless Brooklyn started on Wednesday with four shows daily and is up to five as of Friday and Countd Wn opened on the same day with three showings.
Black and Blue starring Naomie Harris and Tyrese Gibson, opening with seven daily shows in all cinemas on Wednesday, October 23, continued with 6 on Wednesday, October 30. On Friday, November 2, it fell to five showings, and is back to six shows in three cinemas on Wednesday last and fell to three shows as of Friday.
Gemini Man now in its fifth week at the cinemas, is now down to just two shows per day. with Angelina Jolie is having just one regular showing and two early shows at Cineplex and Sunshine Palace, in the 2-2:30 pm time slot.
