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@drifty69 I am sure all will be ok. I'll be able to hang on im in it for the long run
@drifty69 Thank you for another lovely post! :).
I agree once the convant debt waiver comes in the market will be reassured which will reflect on the SP all we have to do is wait for news. How will it be announced?
https://www.cnbc.com/2020/10/01/ron-howard-the-movie-theater-industry-is-not-going-away.html
That's all good @anewman18. CINE becoming a successful corporation once more, IMO, is a given, and the proof is in the pudding, as was mentioned earlier this evening. If it was going to go bust, the SP would be 10p now, and the Institutions and Investment Banks who hold large swathes of CINE stock would have sold, instead the SP is holding at it's resistance point of 40p. The markets waiting to be reassured by CINE's bankers over the Debt Covenant Waiver, which will happen, and then things will be much more plain sailing.
Truth be told, i have a considerable holding in this share at 49.70p average, and it's in the red, but during this very quiet period, i simply set my Trading account to notify me on 5% and 10% moves on this share, rather than constantly waiting for something to happen. It's kind of like we've been given a glimpse into the future and its all going to happen in November (unless Mooky and the team negotiate a deal with HSBC over the Covenant earlier - which is possible. Good luck & stay positive.
Hello Drifty 69,
Thank you for your lovely reassuring post. been looking at a 46% loss from when this stock went down. I have every faith in CINE and want to remain long term shareholder as i love the movies!!!!
Thank you for the clarity on Mookys debt waiver talk, im sure once thats in place the market will be reassured
AZN
Hi @anewman18, rest assured, although things seem bleak for you now looking at your trading screen, as the more sensible posters on here have detailed once Mooky has negotiated and finalized the renegotiation of the Debt Covenant Waiver with HSBC, the market will regain confidence in CINE. Remember he's not asking to cancel the debt, he's simply asking for an time extension. In big business, it's not a big deal, especially between well know established companies and their bankers.
Once the waiver is agreed - which will be before December this year - coupled with the release of the Bond movie - No Time to Die, and the reopening of even more cinema's, the SP will rise nicely. I'd say nice enough to put you back in the blue/green.
Unfortunately, barring an tidbits of news that Mooky releases (unlikely) the SP will hover between 40-50p until them. The market needs confidence, and that is what the renegotiation of the Debt Covenant Waiver brings. Hang in there if you can, you will be rewarded. GL
@anewman
Alot of us are in paper loss right now including Jangho and M&S .. are we worried beyond belief? No because we have faith that Cine can pull through these challenging times in the capable hands of Mooky. Aslong as no more widespread lockdowns Cine can survive. If the lockdowns happen again were all screwed anyway so sit back and relax
@Indebt
The reason why their profit on the books is low is because of serious expansion.. and it avoids taxes.. come on you cant be that naive
Is anyone else just bored of this? Either go down the pan and end the misery, or start going up. Dull
I do believe CINE will manage the debt, once more movies start to come and COVID reassurance, good news for CINE being released the SP should start to pick up could be slow or it could be rapid.
Is anyone else in the red on here
Cine debt under normal circumstances is manageable.. amd this is the first year they have shown a loss on the books, nobody predicted this virus or the worldwide lockdowns that resulted (perhaps maybe the exception being Bill Gates) he seemed to predict it coming
I am sure this will start to pick up. I dont think we will get dilluted as Mooky would be too
I agree with you.
Im down in the red invested at 75p, I hope this does go back up, knowing this share from what I have seen, you dont know from one day to the next this share bounces alot. A lot of long term shareholders have sold has losses.
Probably by this month we may see some clarity. Whats important is the SP stays stable at 40p and goes no lower, as Mooky has said CINE have been hit the hardest, I
This is still being massively manipulated there is no natural movement.. its either being held up to avoid a mass panic sell off.. or its being held back massively and any sign of good news and this will rally
The market is waiting for the waivers to be signed off. They know that the lenders are more likely to agree. Upside is much better than the downside. The SP will rise on the back of this. If they truly believed the lenders to call in their loans, the SP would have crashed to 10p. Also the JP Morgan Chase market manipulation fine, has probably stopped the big companies manipulating this stock. Do not want caught out with a massive fine.
I hope CINE WILL bounce back stronger