Palace Amusement considers stock split Loop Jamaica

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Black Immigrant Daily News

The content originally appeared on: Jamaica News Loop News
Loop Business

24 minutes ago – Updated

Douglas and Melanie Graham, directors of Palace Amusement.

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The Palace Amusement directors will vote on whether to split the stock, which trades at one of the highest on the market but also suffers from lukewarm performance.

The directors said that in keeping with the standard market practice for stock splits in Jamaica, the board will meet on December 20, 2022, and discuss “the possibility of a stock split”.

The company shares closed at $620 on Monday, a 52-week low but traded up to $1,150 over that period.

Before the pandemic, however, the shares traded up to about $5,000 briefly.

Its September 2022 first-quarter numbers show losses of $54 million from a loss of $79.7 million in the 2021 similar period. Revenue, however, grew to $250 million compared to $80.5 million a year earlier.

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