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At a guess maybe their loss has increased. Increasing turnover is all fine, but where is the profit? I can't see any figures except those reported in September. Massive headcount too on that revenue.
Wellington - do you have link to the transcript ruling?
A few things to consider:
1) Covid - will we get another lockdown in the US or UK
2) Outcome of Court Case - win/lose, how much to pay
3) Customer numbers
1 and 2 are anyones's guess and will have a massive impact on price. 3) customer numbers are great at the moment and very comparable to 2019.
So all depends on what plays out. Remember there is a lot of short interest here from hedge funds so there is always a chance for this to spike lower for no good reason - hopefully you are not leveraged!
By March certainly all questions will be answered and we'll either be at 40 or a past a quid! All imo dyor.
Completely out of date info Ade, check the latest RNS and news which shows comparisons of current visitor number to 2019.
Price action totally predictable based on the fact hedges will want to inflict maximum pain on the share price while the uncertainty of another lockdown (highly doubtful imo) and the court case weigh over us.
I'm with chips, they can keep bringing it down all they want, eventually it will come back up. It's not as if this is a ****e company that is in trouble, just need some patience to bring down your average a bit over time, and then sell when it eventually comes back up. We've had the results recently and if anything, the market seemed to take it positively, only for us to get hit by shorters again which is for me another buying opportunity and will hold until it rises and average down as necessary. Done it time and again with this one.
Yes it will be quite a squeeze if they are planning to wait for the court case to finish and it goes in our favor. I think they will be considering their positions now and trying to manage that risk. IMO barring a disastrous result for us in the courts we've seen the bottom for now.
Thanks for the summary. imo, this is the only thing holding cine back. Of course there is covid, but generally the box office numbers are looking great and there is a large backlog of films to come through still. Streaming on release day is generally a flop too, so all good for cine.
Of course, the hedge funds will be trying to inflict maximum pain on anyone long, and the leverage this uncertainty to do so. Thanks again.
Thanks Alex, much appreciated.
Could someone clarify if there is supposed to be a ruling by the judge today? Sorry I've lost track of everything... I'm sure the dates are in here somewhere...
I think a lot of people feel the same. As long as there is uncertainty, especially with the threat of a sizeable lawsuit, there will be downwards pressure on the share price.
Focus more on the US, that is where the majority of our operations are.
This is no concern as to whether people will come back. In American we've been open, and they are coming back, so much so that Mooky postulates a much more rapid return to something like 2019 levels (https://deadline.com/2021/07/mooky-greidinger-interview-black-widow-day-cineworld-1234793975/), UK will follow I think. But none to less, the majority of profits are the from the US anyway.
Yellen in an interview in CNBC last night could not really see a national lockdown again in the States this year, maybe some pockets of low vaccination areas may have to, but not the whole country - more great news.
Shorts will continue to try to bring this down at every opportunity, but, you can't fight it, this is going one way long term.
Remember we were high 80s last week, we are now still mid 60s despite a 13% rise, I think a long way to go yet. DYOR.
The Mooky interview just gave me the confidence I needed to know from the man himself everything is still ok. The numbers better than expected for me. This timed manipulation of the SP by shorters was planned imo. One month out from results, designed to inflict pain on LTHs, this could have gone one for weeks, but I think the Mooky interview may well put a line under it all. Squeeze today.