If the fate of this stock is to be believed, does that mean on T212 as a shareholder , any shares we hold will be liquidated to the creditors and lost all money invested?
If so, is the wise thing to do is to sell now before it is too late?
CINE Cineworld (going into Administration)
Any views are welcome ! Thank you.
There have been some people posting on the mobile community trying to ramp Cineworld. I don’t hold… and not fully researched but from what I know the company has clearly stated that existing shareholders will get nothing. Zero. I believe that there is a restructuring plan agreed with creditors and submitted to bankruptcy court in the US for a new cineworld to be created with the creditors owning it and assets etc transferred to the new cineworld and existing shareholders getting nothing. The family that owned a significant share of cineworld (I think circa 20%) and who were the key part of the management/executive team will be kicked out albeit with a consulting deal for the transition so they’ll get something out of it (not sure how much) but will get nothing for the 20% they owned.
Thus from what I know (dyor…) get whatever you can because you will not get anything if you hold
Obviously this is only based on fairly limited google research trying to respond to some badly informed people on the mobile community (or people who are trying to persuade people to hold/buy)
Thank you for this, very insightful.
Apologises I’m not quite up with the lingo. What did you by ‘ramp’ in that context /sentence just so understand fully?
Ramp is a term used when someone is trying to hype a stock to try to get people to buy/hold - they are trying to ramp the price up.
Often it’s part of pump and dump which is where people hype up a stock to get the price up and then sell (dump) a large holding(s) thereby often crashing the price.