By Tom Winnifrith | Wednesday 7 September 2022
Disclosure: I have no positions in any stocks mentioned, and no plans to initiate any positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from ShareProphets). I have no business relationship with any company whose stock is mentioned in this article.
Cineworld (CINE) has shocked nobody with half a brain or more by putting its US assets into Chapter 11 ahead of a “restructuring process”. Amazingly morons see this as good news! The shares were 25% ahead shortly after the RNS arrived. but are still 13% up at 4.4p. Madness. Cineworld is explicit about what is going on, stating:
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