RE: Hold strong hold long(er)30 Nov 2020 13:18
Tom
I believe the level of shorters is indeed currently a large influencer.
Cineworld has a high level of debt, a level they can finance when open fully and operating at levels they saw in previous years.
However we are not currently open and when we can open is not within the businesses control.
Now, recent weeks with vaccine news and additional funding have certainly helped massively, but vaccine rollout still needs to actually happen and reduce covid risks significantly before the business can even begin to start a return to "normal" operation.
As we get closer and more certain on these things then there will be a more stable SP movement , but volatility can and should be expected until the business has been open and operating for a period of time.
There will come a point where real pressure is on shorters to get out while still in profits.
However many many of the big players shorting got in at levels far higher than we stand now so no immediate pressure on them.
All IMO , others may view differently.