Ryan Mee, CEO of Fulcrum Metals, reviews FY23 and progress on the Gold Tailings Hub in Canada. Watch the video here.
@Oceanpassage
Your flawed logic would also apply to Tesla, which was the most shorted stock in the US and now has bankrupted several hedge funds that were foolishly shorting it. They had the opportunity to close their positions and chose not to. They got burned.
From a person who is currently +400% up in Tesla this year, I recommend those shorting Cineworld cover their positions. The upside risk is clearly huge.
There are lots of Cineworld takeover rumours and also private buy-outs.
What are people's thoughts on what the takeover price would likely be and why?
Surely this wouldn't be less than £1?
UK Lockdown measures to ease further from Sunday as reported by the BBC: https://www.bbc.co.uk/news/uk-53772735
'More beauty treatments, small wedding receptions and live indoor performances will be able to resume in England from Saturday, as lockdown rules are eased.
Bowling alleys, casinos and soft play centres will also be able to reopen, PM Boris Johnson has announced.
It comes as the government introduces bigger fines for failing to wear a mask in places where it is compulsory.'
It seems that cinema reclosures are firmly off the table following this news. Very significant indeed.
I own a big stake in Disney and can appreciate how in the long term, buying a cinema chain would make great financial sense. Given the excellent future prospects of a recovery for Cineworld, they wouldn't be able to buy it for near the current share price.
Its all priced in mate.
I stocked up big time last week as shown by my posts history.
As Warren Buffett says, be fearful when others are greedy and be greedy when others are fearful. The best stock market buys are always against the run of play, and always feel like stepping out into a hail on gunfire, it is betting against the consensus that makes money.
Investing over the long-run, a stupid optimist will always beat a clever pessimist.
Bring on the short seller BBQ.
There were more short positions against Cineworld when it dropped to 21p in March, they got badly burned when it rebounded. In fact, the short squeeze helped the rebound. I'd be more worried if the price was this low and wasn't being shorted.
Another huge holding of mine is Tesla, another stock where funds like those paying you got cremated.
If these shorters had any sense they'd cover their positions before opening day. But judging by past record, they don't.
Quite possibly. I think it was a clever move releasing the earnings at the same time as opening as this may soften the blow of what are likely to be poor figures, perfectly understandably of course.
I averaged down big this week, this is going to pop.
The best buys feel like walking out into a hail of gunfire.
It is the 7 day average of COVID cases that matters. The figures tend to zig and zag day to day, as you can see from the jagged pattern which is due to reporting mechanisms but the overall trend is what matters and it is clearly going down.
I never said I was on the same level as Warren Buffet, nobody is.
I said I was out performing the hedge fund average, which is true but not surprising as most retail investors are as are index funds. You say demand for hedge funds is high, but they are having to cut their fees left right and centre. It is embarrassing. The company paying you to post mindless one-liners on this forum is likely in a worse state than Cineworld.
'at the top level'
Warren Buffet would disagree with you. As would the few successful active fund managers.
@ShorterGuy
'Hedge funds produce lower returns because they take lower risk than you'
Is that why they produce lower returns than an index fund? because they take lower risk?
PS: My portfolio is battering the hedge fund average.
If your trading decisions are on a par with the hedge-fund industry you will be under-performing your benchmark.
I'd quite like to start up a hedge fund in future, its a great way to earn huge fees for being bad at your job.
In the long-term, stupid optimists are better investors than clever pessimists.
Most hedge funds significantly under-perform their benchmarks, so I wouldn't assume those institutions shorting Cineworld are especially competent money managers. Over the past 6 months or so retail investors have outperformed hedge funds.
Even the best shorter, Steve Eisman got cremated when Tesla skyrocketed early this year. I wonder how much money was lost by hedge funds shorting Cineworld in March when it was 22p?
Cinemas are reopening, corona cases are falling in the US, films are being released again, vaccine is estimated October/November 2020, the night is darkest before the dawn.
Thanks. We will see when the earnings come out whether then negative news has been priced in fully or not. There are a lot of investors waiting on the sidelines to get in at a lower point, or get in when screens have opened in the US which is reasonable. As I see it, it is a matter of time before the SP recovers, just a question of when, and these things are hard to time as we saw with the SP in March. You don't have to time the market bottom perfectly, being a couple of weeks out either way is sufficient for huge returns in a bear market.
Perhaps but it was also brave buying at 22p in March.
The best buys in the stock market always seem like stepping out into a hail of gunfire. I went big on Tesla in the 300s in March/April time and that seemed risky at the time. That was also the most shorted stock at one time.
Topped up again at 32p. No reason the stock should be as low as this. Huge upside at this price.
You don't want to miss the whole thing.
I topped up again at 35p! In a couple of months time, when all screens have reopened and postponed films are starting to be released en masse, we will look back at this time when cine shares could be had at 35p and wonder why we didn't buy more given the obvious upside at this time. Its rare the market gives such opportunities.
Just to say I have increased my holding further this morning. Maximum bad news has been priced in, US cases are falling, If US screens are allowed to open in a couple of weeks time, shorters will have to cover their positions or face big losses.