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.
2 Likes
Was just breaking newsā¦ I only went in search when I saw your post.
Obviously some people had the news earlier than that and chose to get out.
1 Like
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
2 Likes
I canāt condemn this post 
. A healthy reminder to everyone to stay diversifiedā¦
wallstreetbets worthy post from this trade
1 Like
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.
Thereās 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 ārumourā 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.
1 Like
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 Cineworldās 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.
3 Likes
1 Like
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.
1 Like
This is in my opinion an absolute game changer and will also in my opinion force the Judge to act on behalf of shareholders and other parties. The Judge can now know the TRUTH and will have to act appropriately ! Yipeeee!
https://cases.ra.kroll.com/cineworld/Home-DownloadPDF?id1=MjQyNTQ1Ng==&id2=-1
The judge is in bed with Crooky Mooky
1 Like
Possibly good news for long suffering CW shareholders āTikTokā have objected to CrookyMooky plan to wipeout shareholders!
Tiktok have objected because they are owed 60k dollars and are in the unsecured lendors pool, which puts them slightly ahead of shareholders but behind the main creditors.
It means nothing. Literally nothing, nor do any of the letters of objection lodged with the court.
It is a basic part of buying shares, we buy on a limited liability basis - so we are not personally liable for the debts of the company.
In return for that we accept that in situations like this where the company is effectively bankrupt and cannot meet its debts and is worth less than the value of said debts we have no claim to assets until lenders are made whole in full.
Its not a hard concept to grasp but i see so much nonsense posted online from shareholders in CINE.
If you are not comfortable risking losing your entire investment (in any company), you simply shouldnt be buying shares.
4 Likes
Just popping back because it makes me feel clever and superior (and after all thats the point of the internet isnāt it)
Last year, it filed for bankruptcy protection in the US but it hopes to emerge from this next month following the restructuring of its finances.
Cineworld will apply for administration in July, which will see shares in the firm suspended and existing shareholders wiped out
Sorry, Iām not around as much as I used to be but 
to all my friends, even you Brian 
9 Likes
Dose anyone think we stand a chance of even a minimum recovery?
For me is winning or losing all
Everything I have read says it will go to zero. And soon.
Nowt nill nothing
Debt comes before equity. (I am ignoring Switzerland), so basically your not entitled to anything.
It happens. Ignore it and move on and buy something else thatās a lot less risky.
I am assuming you bought post covid?
If so you took a risk and it didnāt pan out.
The main thing about freetrade is the zero stockbroker fees, it allows you to take big risks with small amounts of moneyā¦ possible even encourages you to!
1 Like
Even pre-Covid this stock was in decline and a risk, nevermind post-Covid.