People are to negative and nothing is pushing the price up no more up
That explains the huge 20% drop since trading started this morning. Thanks.
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Was just breaking news⌠I only went in search when I saw your post.
Obviously some people had the news earlier than that and chose to get out.
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And anyone know what the sudden spike is today? Cant get my head around this stock. Surely it should juat crash with the chapter11 pending and no buyers
Must be Juno buying 10k worth
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I canât condemn this post 
. A healthy reminder to everyone to stay diversifiedâŚ
wallstreetbets worthy post from this trade
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My guess is day traders. CINE is being ramped hard online, and there are plenty of suckers biting.
Classic pump and dump, and a lesson in doing your own research and not relying on what people say on forums or social media.
Thereâs no news, the RNS is unchanged: shareholder wipeout likely.
Its telling that all institutional investors are out, and have been for a while.
All that are left are naive private investors and day traders.
Theres lots of ârumourâ and blind hopium online, but fundamentally the business is distressed and those left holding the baby when the rampers and shorters close out are screwed.
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Chapter 11 update
I asked Bard to summarise -
Sure, here is a summary of the text you provided:
- Cineworld has received support from additional lenders for its proposed restructuring.
- The restructuring now has the support of lenders holding and controlling approximately 99% of the Legacy Facilities and at least 69% of the outstanding indebtedness under the debtor-in-possession facility.
- The Bankruptcy Court has approved the terms of the backstop commitment agreement and authorized the relevant Group Chapter 11 Companies to implement those terms.
- The Proposed Restructuring does not provide for any recovery for holders of Cineworldâs existing equity interests.
This means that Cineworld is one step closer to emerging from Chapter 11 bankruptcy. The support of the lenders is a positive sign, and the approval of the Bankruptcy Court is a major milestone. However, it is important to note that the Proposed Restructuring does not provide for any recovery for existing equity holders. This means that shareholders will likely lose all of their investment in Cineworld.
For investors, this means that there is a high degree of risk associated with Cineworld. The company is still in bankruptcy, and it is not clear when or if it will be able to emerge successfully. Investors should carefully consider the risks before investing in Cineworld.
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Not really, a small crumb.
The crux is how should the business be valued, pre-covid or post.
The business IS growing again and revenues are increasing.
However, due to ch11 a lot of costs such as rents are not included and leaseholders are in the creditor queue.
I see the argument that the business has been undervalued, but by the same token valuing by pre pandemic figues is also wrong IMO as the market has changed and studios have favoured streaming.
The fact is, even taking the current increasing revenue and assuming revenue holds and increases further, the business as it currently is not worth the value of its debts.
As the RNS and the judge has emphasised recently, creditors are at the front of the queue and equity holders are at the back. No matter if the business is revalued it seems highly unlikely there would he enough value to satify creditors, who must be made whole before shareholders can recieve a penny.
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