George Frangeskides, Chairman at ALBA, explains why the Pilbara Lithium option ‘was too good to miss’. Watch the video here.
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Well if Trump win we can expect the stimulus very soon, with Biden its 2021. I have not followed the polls closely so not sure who's gonna win. Lets hope Cine is not impacted by the volatility of it all
True @Mrzeroh. The Dow’s down 350 points already. They’re not going to get a stimulus package, and the US election’s (in all likelihood) Going being to be chaotic, with the result v unlikely to be called on the night of the 3rd Nov, and probably not for a week or so with all the mail in ballots. It’s surely going to be turmoil, as we know markets hate uncertainty.
On the plus side, we’re up nearly 8% today, which is better than I thought we’d finish at. Good luck.
American markets seem to be on a tumble, next week is gonna be a big rollercoaster
There is also the fact they the US has a lot more RobinHood traders compared to the UK/ftse. When AMC spikes it spikes hard and fast, retrenching at close to the same speed. This number being boosted by the Q2 stimulus cheques etc.
Thanks for that @Ianharding. That was the part i couldn't work out on the AMC v Cineworld SP's. I didn't factor in this is the one of the most shorted stocks on the FTSE. I remember the Cine board members stating how they viewed people shorting the share with disdain. No doubt they will stick it to the shorters when, in all likelihood, the refinancing is announced in the next few weeks or so. Thanks
@Ianharding - you may well be right.
The Universal deal was widely regarded as a non-starter. No other studios or cinema chains followed suit. Making the deal alone useless. As for selling off European cinemas. That was needed to raise capital. But in a few years they may look to buy them back or the new owners of AMC will. Reason there share price is doing better is AMC was not shorted as much as Cineworld so was not subject to market manipulation. Also the Americans know the importance of cinemas in comparison to U.K. investors.
AMC have sold off one of their European chains, and have done a deal with Universal to get access to money from streaming. I'm not saying those are good decisions even in the short term, but it might explain why investors are backing them a fraction more than Cineworld.
You do make me smile , that's a good trait to have .
:-))))
Thers for full stops , I see your maffs is has good has yore speling...
Top Marks......
Insi, finished the early shift at McDonald's yet?
@Sammy - we can forgive the dire state of insi wincy little knob's useless grammar, being the Numero Uno Village idiot of all time, it goes with the territory.
Its no-one not know one , thicko....
Thanks for the analysis, Drifty. I had been pondering the comparison myself and going to ask for some thoughts.
Like you, I see the crucial issue is the Debt Covenant waiver. If - once - when that is done, surely there will be a big boost.
I only wish it could be done yesterday!!!!
Low SP is good for a couple reasons.. to topup and also stops shareholders getting massively diluted by RI because it will be the very last option from Mookys point of view
Interesting to note AMC Entertainment, the No1 Cinema chain in the world in front of Cineworld, are releasing their Q3 figures on Monday 2nd November after close of trading. They're not going to be pretty, that's for sure.
It's interesting, because the parallels between our two companies are relatively similar, albeit we are in a stronger financial position than AMC. We have less debt, and have closed our cinemas temporarily, whereas AMC have remained open, since their re-opening in September this year.
The travesty to me is in the SP's. AMC were trading at around $7 at the beginning of February 2020. Their SP dropped 65% down to $2.50 in March after Covid hit America. However, and incredibly, it rebounded to $7 (full pre pandemic levels) in September 2020 when Tenet opened in the US. Subsequently it has retraced back to $2.52 (still being 35%) of it's pre pandemic level. This with the spectre of Chapter 11 filing handing in the air.
Compare this to Cineworld, trading at 180p at the beginning of February 2020, we plummeted down to 21p when Covid hit the UK in March. That's an astonishing 88% drop in the SP! We've had a few ups, with the US ruling that Studios could buy Movie Theater chains, the renegotiating of the Debt Covenant waiver due in June 20, and Jhango's unfounded takeover pushing the SP up , but even today, we are still trading at only 15% of our pre-Covid Feb 2020 SP. It's baffling to me, even when Tenet was released in August, and there was a full line up of movies, with more and more Cine/Regal cinema's opening the SP only hovered between 40-50p.
All i know is, when the Debt Covenant waivers are agreed in the next few weeks, and when Mooky opens the Cinema's to Wonderwoman 1984, coupled with a Vaccine release at the end of year or beginning of 2021, we are going to absolutely fly like a Space X rocket from SP price!