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Yes. The share price. Up 30% at the start now 17% ahead at 5.4p.  That has changed. But anything else?

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The Thanksgiving weekend is when Americans go as a family to see a movie in massive numbers. Well not this year. Ticket sales were just $125 million way down on prior year norms and what was expected. There are two reasons and both bode terribly for the cinema industry as established trends continue or even accelerate.

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Still there are fools who think that Cineworld (CINE) shares have value. They do not. This looks like a slam dunk zero after documents published late last night in the latest round US Chapter 11 hearings. What follows is an idiots guide as to why any holders should sell and anyone who wants a free Christmas bonus should add to/open a short at 6p. Here goes:

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Here it is in full. And to think some morons (who almost certainly have not read the court document below at all)  think judgement yesterday is good news for Cineworld (CINE). As you can see, everything is up for sale and there is a strict six week timetable. At that point there will be sod all left for shareholders so it is a zero by Christmas. Enjoy.

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There has been news but no RNS. So for 24 hours there has been a false market in Cineworld  (CINE) with morons now buying the shares at c8p or higher. They are misunderstanding what has gone on in a void as Cineworld has issued no RNS statement. This is a regulatory disgrace, which again shames the FCA, but take advantage of it and short the feck out of the shares.

NEWSFLOW

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We all agree that Cineworld (CINE) is bust, however, the shares are trading and currently have a value (3.80p at pixel, equating to a £52 million market cap).  Obviously, if Cineworld goes into administration then it's game over and the shares will be worthless.  But it's possible that there is a small amount of value left *IF* Cineworld successfully implements a debt for equity swap.  This value is referred to as “frustration value” but Cineworld’s shareholders may not even have that anymore!

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My problem, as ever, is being to much of a nice guy. So, generously, have long argued that Cineworld (CINE) shares might be worth 2p. And I stay with that view after yesterday’s Chapter 11 news.  Evil Banksta,, being a bankster, is by definition not a nice guy and so has been even more bearish. He stays short and bearish and argues that, in a best case scenario, the shares are going to 1.5p. And unlike Damian from Northern Ireland who should be in jail, he explains his reasoning in a balanced fashion, thus:

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AFTER the company announced that it was going into Chapter 11, Damian From Northern Ireland posted the video below urging folks to buy shares in Cineworld (CINE). Damian you should be in jail. For what he says is selective, quoting from the RNS about how deleveraging will strengthen the balance sheet etc, etc. But neglecting to mention the explicit warning that equity holders will be more or less wiped out. Unbelievably...…

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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: