Once representing one of the unquestioned powerhouses in the broader entertainment sphere, Cinemark (CNK) has suffered two significant headwinds, first in the form of rising competition from content streaming platforms and later the COVID-19 crisis. Still, the pandemic itself may help restore some of what Cinemark lost, thus making CNK stock an intriguing proposition for contrarians.
Technically, Cinemark’s strength is difficult to ignore. Since the start of the year, CNK stock gained just over 115%. Also, following some flat trading since April, the cineplex operator appears to have found second wind. In the trailing five sessions, CNK swung up over 7%. In the past month, it returned stakeholders more than 14%.
