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Believe me it will be blue... over 60 this will be ....
Some large buyers now appearing, tells me the longs are back, blue finish would be agreat springboard...
As expected....
I keep banging the drum because fundamentals are important.
Let's keep in mind the fundamentals.
1. Cineworld cinemas operate a profit at as little as 20-25% capacity and are on course to open all their territories before the close of this month.
2. Face masks worn is encouraging as it promotes the government's message and mitigates the risk of further closure.
In line with government guidelines, all customers will be required to wear face coverings whilst visiting our cinemas from Saturday August 8. They can however be REMOVED to consume food and drink (a great upsale for concession sales, you will agree). Source: https://www.cineworld.co.uk/static/en/uk/blog/cineworld-cinemas-reopening-FAQ-frequently-asked-questions-coronavirus-covid-19
3. Schools re-open next month September, millions of children sitting for 6 hours+, side by side, no social distance or masks and frequent touch points vs cinema viewing in staggered, static seating with frequent cleaning and controls is a lot safer.
4. Debt may be B grade but that is it - it's debt. Investors aren't trading debt securities so the grade B (like Rolls Royce btw) has a default risk of 4-6%, so 94-96% positive outlook for their debt, again from a private investor who is trading equities securities by way of stock purchase is not fazed by this.
Cineworld will PASS their debt covenant test this December 2020 with ample room to spare.
5. Shorts are nothing new, in Jan 2020 this year shorts were 14% and share price was 164p (4 x the current SP).
6. Tenet the BIG Blockbuster of 2020 is to screen in ~2 weeks
7. Cineworld US (73% of their estate) is to open in ~2 weeks and will ACTIVATE 300,000+ subscriptions, each paying upwards of $23/month
Should move back over 50 as MMS went on mugging spree and now got cheap shares... still expect blue DAY...
156k buy just went through, one direction north..
Consolidated nicely since yesterday, tells me it's a strong long. gla
The smart traders will know with the drop of 10% this morning over the short term they could easily bag at least a 10% profit because of how undervalued this stock is and what yesterday proved is how quickly it can move on what the trolls called nothing.
Won't be long now.