Rollercoaster share plunge

SHARES in Movie World owner Village Roadshow plummeted 17 per cent yesterday, wiping $87.83 million off the company’s market value.

Village shares fell by 17.24 per cent, or 45c, to end the day at $2.16.

Speculation takeover offers from private equity firm BGH and funds group Pacific Equity Partners have fallen through is believed to be behind the massive fall in the stock price.

The share plunge for Village followed a wild ride for investors with the overall sharemarket staging a recovery from its morning losses of as much as 8.1 per cent to finish 4.4 per cent higher.

However, shares in Village rival Ardent Leisure, which owns Dreamworld and other theme parks on the Gold Coast, were not part of the recovery. It lost 6.4 per cent of its share price to fall to 36.5c.

The company yesterday announced that because of coronavirus it was withdrawing its FY20 earnings guidance for its Main Event business, which runs entertainment centres in the US.

It said it expects the impact of coronavirus to continue for longer than first thought.

“Both Main Event and Theme Parks are pursuing a range of mitigating actions in

The Queensland Disability Network (QDN) said federal government action was required to keep the disabled safe and informed.

QDN chairman Nigel Webb said they’ve had a surge in inquires relating to coronavirus, with many worried about accessibility to daily support services if isolation was required.

“Public information about the virus is inaccessible to many people with a disability,” he said.

Greg Keily Chemist in Marine Parade, Southport is open Monday to Sunday 7am to 9pm. response to the downturn in guest attendance,” it said.

“These include adjusting operating costs, deferring nonessential capital investment, and reviewing other non-critical business activities and discretionary expenses. The Theme Parks division will continue to focus marketing efforts on the domestic market in the short to medium term.”

Other Gold Coast stocks to fall included Ormeau-based PWR Holdings, which makes cooling systems for the fastest vehicles on earth. The company saw its stock price fall by 8.3 per cent, or 31c, to $3.42.

That is well below its 52week high of $5.16.