We are moving in right direction , it will just take time to fix.5 Oct 2021 10:29
Guys try not to forget what cine has been through to get to this point , its only when you think about it you realise how strong and resilient cineworld are.
covid hit us and other cinemas hard , very hard.
We dealt with the initial covid out break and lockdown that sent the stock market crashing , look on most stocks , march 2020 isn't great reading. Studios shut and while we were open didn't have fresh content to play , instead showing at times older films, summer came and we rose to around £1 but then fresh covid concerns and lack of films dropped us again to the time I personally invested.
Tenet was supposed to be our saving grace , to get money back in the tills but in all honesty looking back it was always going to be pointless because we had no idea what was coming.
Bond delayed first major hurdle, led to mooky shutting the cinemas (best desicion ever in hindsight) a falling s.p to 20 odd pence and a REAL concern cineworld may not come back let alone with all cinemas in play. However mooky did play a blinder in getting extra finance to see us through.
Then came the Kent variant , we were shut but it still played on market sentiment and s.p , we were having more then 1200 deaths a day and 60k cases daily. However vaccines come out and offered us hope , we just couldn't jab arms quick enough.
We then had the phase 4 programme of reopening , again we were not near the front of the list , we had to wait , phase 3 was for us and that included a 3 week delay in our anticipated opening date, but that came with more restrictions , social distancing in cinemas and masks , and we wanted everyone back at the time the indian variant emerged. It didn't really happen as we hoped.
We then had financials, any gains we had were washed away when it emerged we had more debt, and things were laid bare on how bad covid had hit us as a company. More liquidity secured as and when we needed it.
Now look at us still here , we are now a much better fine tuned company coming out of covid then entering it due to the opportunity to speak to every supplier to rearrange prices etc , money now going through the tills at a decent rate , a really really decent film slate to keep those numbers up , newspaper articles for the right reasons, vaccines in arms in majority of the county , recent financials which show we are not out the woods but certainly turning a corner.
This isn't a history lesson a ramp or deramp , my point is if we sometimes look at how far we have come and more importantly what we have been through cineworld proves she's as RESILIANT as ever, it made it through the other side , the s.p in my opinion will get to my exit price , I'm absolutely certain of it , we just need to let mooky continue fighting off the devastation of what covid caused us , and boy is he fighting hard , over time he will get us back, but it will take time to erase the last 18months. Debate on timeline will continue, however patience will be rewarded
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