I said at 2p this was a punt5 Sep 2022 13:36
But still is. It’s whether you believe CINE survives. But it looks like to me the drop from 20p to 2p was driven by media reports and Hedge funds shorters. We are now in a situation where said hedge funds have taken the gains and walked away. A return to 20p in the next four weeks is reasonable. A movement up from here will be dependant on Cineplex outcome. I believe they will come to a settlement. We could then see a return to the 50p level. If I I was Cineplex I would take Cine shares in the knowledge that a settlement will boost the share price back to the 50p range.
And let’s not forget meme stocks, we all know this can push up prices quickly.
But taking all that in, it’s a punt and because of that only buy what you are okay losing.