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The 20 moving average still crossed above the 150 with 29 res.. the 20 moves back under then we may dip back down but seems to be holding well.. 3 attempts to break down and holding
Tend to agree, the stable pre-opening price is 60-70p if/once finance is settled. Rising further once covid horizon is in clear sight.
This means we are approaching a binary situation of either all or nothing.
Shorters will start to close positions (if for no other reason than a 'just in case' basis). Some will hold and either make a mint or loose one.
So we're going to see daily volatility spike up and down a bit MORE than normal. Binary situations do this.
If you accept survival, with equity by and large intact, the remaining shorters will have to start to make for the door, which won't be wide enough for all off them, so will have to pay a premium to get through.
Day traders will be waiting for this and make the shorters position even worse as they also try and buy a shortening supply of shares to trade the up-spike. Waiting for the profit take may not be enough of a drop-back for left-over shorters and will also make selling high and buy-in back cheap quite dangerous. We would likely get 2 or 3 upward spikes.
Yes Ian, i watched that happen, a hour long downward trend in the SP starting at 3pm from 31.88 down to 29.42, but it refused to go below 29.42.
I love your enthusiasm for the SP/Company. Let's see how she closes, and indeed opens tomorrow. Good luck
Third attempt to drive this sp below 29p. Someone is desperate to close their short position. If this closes anywhere above 30p then they will give up and the SP will rise up to 36 p tomorrow. Market know the debt will be refinanced with no CVA or equity swap. Once the lenders accept he inevitable then the Sp will soar up 70-80 p
True enough @Racandfz. I believe $4b is the same sort of debt as AMC and Cinemark have, give or take.
As @IanHarding says, what on earth would the studio's do without Movie Theaters, and i can't even entertain the send it all to PVOD brigade, for all the reasons we have gone into over the past few weeks.
Be nice to see a little uptick at the end of play today. Good luck
The big Sky scoop was really stating the blindingly obvious re Cine bringing in someone to help with negotiations and, as you mention, exaggeration does sell.
For those who said Mooky overloaded with debt, the market didn't agree when Regal was bought. In fact SP went up at the prospect of all those synergies it represented. We have an economy that leverages debt precisely for the purpose of mergers and acquisition. Creditors live off this simple fact.
The part that confuses me is that the media often relate to Cineworld's $8b dollars of debt, when in the interim results, and presentation, and all the time Mooky has been interviewed $4b is detailed. The later is clearly laid out in the results and interim presentation.
There's a little bit of a difference between $4b and $8b. I think i'll believe the results which were reviewed by Price Waterhouse Cooper.
Shocking 'journalism', but i suppose that sensationalism sells newspapers, or website traffic as it is these days.
Quite true.
Basically Cine have got the lenders/landlords money.
Cine do not own the cinemas themselves so asset wise, a fire sale gives lenders/landlords squat.
Cine survival, equity intact, is key to getting their money back. In fact key to a future stable payer.
The question will be all of it? Or improved terms/delayed maturity with payment holiday to cover extended maturity.
With deferred maturity/payment holiday the need for more cash reduces. Some landlords can afford payment holidays probably in exchange for knowing they'll get the money when covid is sorted and extra payments made from future income (ie not paid out for a while to shareholders)
Look at the studios debt over $400 billion. Cineworld’s is but a drop in the ocean compared to theirs. The lenders know this. So will make sure cinemas survive to protect themselves from going bust. They have over lent and will go bust if the cinemas and studios, not to mention industries associated with them go bust.
Nope, still not seeing it.
Starting to sink fast, hold on to your hats, this is going to drop quick! Fundamentals are squeezed like nothing I have ever seen! The amount of Debt loading on this company is outrageous! How they have got away with it I don' know, they deserve to sink!
Must have been predicted by one of the ar$ehole gang, got it wrong again....
It must have come early, I thought that was happening on their election eve!
(https://www.standard.co.uk/news/world/asteroid-us-election-neil-degrasse-tyson-a4572146.html)
You not seen Sky News??.
This meteorite has blown the usa off the map...
I think the US must have forgotten to set their alarm clocks...
Do us a favour and give them a nudge will you, I haven't got all day to see this apparent 'decimation'.
*YAWN*
Timber!
2:30pm US is going to decimate this, what a mess it's in!
Bond Holders are going to bite off as much Debt for Equity as they can! It's going to be broken up and sold in parts!
The US market is tiny for Cineworld. It trades approx $125k per day in the smallest market there. Think of How many Cinemark (US) shares Are traded here in the UK. The US trader is asleep and his or her algo/automated trade does the work for them. It’s not 1980 anymore!!
Sub 28p
What is it with the 2:30 question.
Are you telling us that people in the US can only trade FTSE shares when the US market opens???
Dear me
sp prediction at 2.30