Early this year we showed the top shorted London-listed shares at the start of 2020. How's the performance as at the end of April? (those in bold remain from 2019)...
Shares in utterly bankrupt and worthless Intu (INTU) are up by 10% today. It is one of those days when folks just assume the best in everything. The worst recession since the 1930s, sod all earnings visibility, looming mass unemployment? Who cares? Just Fill Yer Boots! In that vein, shares in Cineworld (CINE) are up by 44% at 57p despite a dismal Covid update telling us nothing we need to know at all. Other than that the board are greedy bastards and you & I are subsidising that greed!
With the current state of the markets there isn’t a lot that I would exactly be rushing to buy at the moment, as I think that even the good companies that have strong enough balance sheets to survive relatively unscathed, could well go a fair bit lower yet.
Chris Bailey and I have warned repeatedly that Cineworld (CINE) looks to be a car crash and may well go bust. In the good times it has racked up vast debts and now we are all self isolating and its movie theatres are empty. It is a recipe for disaster. And so we turn to NED Helen Weir.
Markets remain...excitable. More on all this at some point in the weekend but I have to end the working week with a comment or three on Cineworld (CINE), which came out with a trading update this morning…
I present the video below from Bucephalus Research Partnership with no comment other than to say I would not be gagging to buy shares in Cineworld (CINE) on the back of it. . Judge for yourself, it seems pretty compelling viewing to me. Hat tip PB.
Early this year we showed the top shorted London-listed shares at the start of 2020. How's the performance after the first month of the year? (those in bold remain from 2019)...
Before we get onto the main event - continuing corporate madness at Cineworld (CINE) - a quick update on FirstGroup (FGP), which I last talked positively on a couple of weeks ago. Very good to see that 'the Board has appointed advisors to formally explore all options in respect of our North American contract businesses, First Student and First Transit, including a potential disposal'. That sounds to me very positive regarding asset value realisation strategy. I would still buy/hold the shares. Now back to Cineworld…
Hello, Share Slammers. For most of my investing life, I’ve viewed cinema companies darkly. Ever since the ‘fifties, there has always been some sort of major competition for the way we spend our spare time. Back then it was TV. Then it was ten-pin bowling, next discos and so on. Now cinemas are threatened by widescreen tellies, Netflix, i-player, computer gaming and loads of other kinds of entertainment...
Judging by today's five percentage plus share price move, my cautious call on the big M&A splurge in the United States about fifteen months ago by Cineworld (CINE) is not looking so hot. Of course punch up a two or three year share price chart and you also immediately see the distorting (and dilutive) impact of the big money raising that accompanied the Regal deal...
Hello, Share Springers. I’m guessing most of us are film fans. Though maybe more of us rely on our big screens at home rather than trogging round to the cinema. It’s this change of many a lifestyle that has hitherto put me off investing in cinema chains. But there is one that seems worthy of our attention now.
