RE: Today drop is not CINE related6 Jul 2022 08:29
"2 weeks ago, you said you would buy into cineworld if they win the court case"
What i said was if they win the case, and I don't think they will by the way, but *if* they do, I would imagine the share price would bounce on the news and that there was a possibility, in time, that the company might recover, thanks to a strong recovery in the cinema industry. I do see the appeal as critical because if they lose, where are they going to find upto £700m from to pay the fine? As I say, I don't believe Cineworld will win anyway. So yes, I stand by my "if they win the appeal there MIGHT be a buying opportunity, albeit a risky one. However, the recent news from Israel involving Mooky undermines the investment case for me. I wouldn't touch this stock with a bargepole as long as he's CEO. Win the appeal and a change of leadership at the top, and I might think about it. But I don't think either of those things are going to happen. Bottom line, there are far better opportunities out there than this. Right now, there are literally dozens of quality stocks on the floor that have huge upside potential and don't carry anywhere near the amount of risk as Cineworld.