Shares of the popular cinema chain fell a sharp 25% (£0.1114) over the past week as they lost a major court judgment in Canada, forcing them to pay a whopping £722m in damages. The legal claim was over their proposed takeover of Canadian cinema chain Cineplex, but Cineworld pulled out of the deal because of the pandemic. As a result, Cineplex sued Cineworld for breach of contract, with the latter lodging an appeal against the judge’s decision. Cineworld currently trades at £0.3299 per share.
AMC Entertainment Inc. ($AMC)
AMC’s shares rebounded significantly over the past week after they reap the benefits from the new movie Spider-Man: No Way Home after records suggest it is a box office hit. CEO Adam Aron went onto Twitter to tell people that over 1 million people had watched the new movie in US AMC theatres on its opening day – the second-biggest opening day in AMC’s history. Further, AMC’s loyal backers in Reddit group WallStreetBets pushed the stock above $30, the first time in several weeks. AMC grew 25% ($5.88) and currently trades at $29.12.
Airbnb Inc. ($ABNB)
Airbnb Inc. stock tanks in response to growing concern over the new Omicron variant as travel restrictions are starting to be reintroduced. Investors expect as more restrictions are brought in, demand for travel and stay experiences will fall. Airbnb has had a rollercoaster over the pandemic, as its stock price goes up and down in response to the state of the pandemic. Still, many analysts believe it is a great stock to hold in the long term and is set to rebound as the world starts to get a real grip with surging Covid-19 cases. Shares of Airbnb fell 7.6% ($13.13) over the past week and currently trades at $157.91.
The biotechnology company, which has become a hot stock over the pandemic because of its COVID vaccine, has had its share prices grow considerably in the past week as the Omicron variant spreads thick and fast throughout the world. Moderna will be a key player in the Coronavirus vaccine rollout, along with other vaccine manufacturers such as AstraZeneca and Pfizer/BioNTech. Further, Japan this week approved the Moderna vaccine for citizens over 18 years old, along with promising results for Moderna’s new flu vaccine. Shares of Moderna went up approximately 15% ($38.31) over the course of the week and currently sits at a price of $295.43.
Another company involved with vaccines at the clinical stage saw its share price pop over the last week as rumours surfaced that the World Health Organisation (WHO) and the European Medicines Agency (EMA) could approve Novavax’s COVID vaccine next week. Another major company accelerating the vaccine rollout could have a domino effect with other stocks such as those in the travel or hospitality industry. Shares of Novavax increased 30% ($50.68) and trades as of now at $217.52.