Monday4 Oct 2020 11:15
Tomorrow is going to be a hard day for alot of people here. I've held various amounts of cine shares since the first drop. I held through the rises and was hopeful of seeing £1, possibly more, but as time went on I sold off in chunks, with much less profit than I should have. I sold my final shares 2 weeks ago.
There will be alot of investors here with fairly high averages who have bought in off the back of the rampers, without looking at the bigger picture or really doing any research. The fact is, this business really is struggling and will continue to do so for the foreseeable.
Those who can afford to wait for the sp to climb, will just have to put their holding in the bottom draw until next year, and average down when they are able.
I will look to re buying shares this week for a lth, but even that is a risk. Also, as Mark1973 says, where will the floor be? I can't believe it will be below 10p, but it's possible.
I enjoy the cinema, my wife and kids enjoy it too. I much prefer to go there rather than watching movies on my set up indoors, purely because at the cinemas I don't get constantly disturbed by the kids (or dear wife) coming in and out of the room, or endlessly having to pause the film. There will always be a demand to go to the cinema, for whatever reason, i really hope cine doesn't close for good, but if it's barely covering it's costs how long can it continue to keep its doors open.
This level of debt can't be ignored, and the level of cine's debt is truly immense.