RE: Current SP10 Mar 2021 12:36
MOOla
Most of us expected resistance at £1, we are getting it a little after the event.
We have had a year of uncertainty for all and though things are generally going much better now with promise it is not yet a guarantee.
For businesses that are heavily indebted and had the issues Cineworld (and others) have faced and to varying extents still do then I dont think it should come as a complete surprise it's not a straight line up and at pre covid levels SP.
Mind:
Cineworld themselves stated an opening any later than May may require flexibility/support from their lenders. (UK is scheduled for an EARLIEST opening mid May) The two main areas of USA, one has only just opened and with restrictions to 25%, the other is hoped to open soon but as yet is not.
Blockbuster movies are currently holding dates and scheduled for Cinematic release but we and the markets can not be 100% sure yet.
Results which will be further losses are due soon and some further nervousness may be there in the event they are even worse than expected.
We appear to be getting close to back to business, but as we speak the Cineworld estate is closed and got a large debt to finance with dwindling cash reserves.
Circa 4 X price of 4 months ago all considered isn't to be scoffed at IMHO.
I believe we will see SP recover further this year, but we have hurdles yet to tackle.