As of July 10, 2024, two stocks in the communication services sector could be flashing a real warning to investors who value momentum as a key criteria in their trading decisions.
The movie theater industry may be struggling right now, but Wall Street sentiment may be shifting toward one company. Cinemark Holdings (NYSE: CNK ) stock is in the green today after receiving an upgrade and increased price target.
Cinemark (CNK) witnessed a jump in share price last session on above-average trading volume. The latest trend in earnings estimate revisions for the stock doesn't suggest further strength down the road.
Movie theater company Cinemark Holdings Inc CNK gets upgraded by an analyst as several box office releases are showing strength for the movie industry in recent weeks.
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Despite the challenging macroeconomic landscape, investors are buying meme stocks as companies gain popularity again through social media and online communities. May was a particularly interesting month for meme maniacs following “Roaring Kitty's” return after over three years.
Cinemark (CNK) might move higher on growing optimism about its earnings prospects, which is reflected by its upgrade to a Zacks Rank #2 (Buy).
Here at Zacks, our focus is on the proven Zacks Rank system, which emphasizes earnings estimates and estimate revisions to find great stocks. Nevertheless, we are always paying attention to the latest value, growth, and momentum trends to underscore strong picks.
Cinemark (CNK) made it through our 'Fast-Paced Momentum at a Bargain' screen and could be a great choice for investors looking for stocks that have gained strong momentum recently but are still trading at reasonable prices.