cineplex stock reddit

Early in the year, Cineplex got really close to being acquired by U.K.-based Cineworld for $2.8 billion (or $34 per share). It could take a year or two for the realization of the new normal. Anyone else holding Cineplex? Find the latest CINEPLEX INC. (CGX.TO) stock discussion in Yahoo Finance's forum. Separately, Fitch Ratings placed Cineworld’s B+ rating on review for downgrade on Monday, citing uncertainties about its business because of the virus impact. I'm nervously holding $1000 I bought of Cineplex at $15/s.

Current as of October 6, 2020. The stock trades at a meaningful discount to normalized levels (whatever the new normal may be).
Motley Fool Canada's market-beating team has just released a new FREE report that gives our three recommendations for the Next Gen Revolution. What’s Cineplex stock worth at normalized levels? Cineplex was a blue-chip dividend stock in the past decade or so. Theatre attendance was nil due to forced closures. Thankfully, in July, Cineplex was able to increase its liquidity through the offering of convertible debentures that raised about $316 million. Cineplex Inc. (TSX:CGX) is a high-upside stock that could make you rich if COVID-19 were to be eliminated sometime soon, but should you buy CGX stock now?

View which stocks have been most impacted by COVID-19. The deal was called off in June. Find the latest CINEPLEX INC. (CGX.TO) stock quote, history, news and other vital information to help you with your stock trading and investing. Click Here to Get Your Free Report Today! Whether people will actually go also comes into question. All rights reserved. Cineplex had commenced an action in the Ontario Superior Court of Justice to claim compensation from Cineworld. Live on Passive Income: 3 Top TSX Dividend Stocks to Buy in October 2020, Wherever the Market Goes, I’m Buying These Top TSX Stocks, Why Canopy Growth (TSX:WEED) Stock Fell Over 11% Last Month, Why Hexo (TSX:HEXO) Stock Fell 8.4% Last Month, 1 Safe High-Yield Dividend Stock to Buy for October. Regardless of how this case goes, the theatre business remains in really bad shape due to the COVID-19 pandemic-induced government-mandated closures. The increased liquidity and the company’s cost management should help the business survive the next 12 months. Not to alarm you, but you’re about to miss an important event.

Enter your email address below to get started now, and join the other thousands of Canadians who have already signed up for their chance to get the market-beating advice from Stock Advisor Canada. Needless to say, Cineplex stock is a high-risk investment right now that’s only suitable for speculative investing. That’d imply upside potential of 68% from $8.33 at writing.

The hope is that the worst is over, as Cineplex has been reopening its entertainment locations gradually in phases with a focus on safety guidelines and allowable public gathering sizes. From the end of 2019 to the end of June, Cineplex’s cash and cash equivalents had dwindled by approximately half to $13.8 million. In fact, in Cineplex’s Q2 report, it admitted that “[s]ince March 15, 2020, Cineplex has experienced a net cash burn of approximately $15 to $20 million per month as a result of having to close its theatres and [entertainment] venues.” The Q2 net cash burn was $53.9 million, or roughly $18 million per month. I understand I can unsubscribe from these updates at any time. There are two words to describe Cineplex’s current business: cash burn.
Cineplex (TSX:CGX) was a blue-chip dividend stock in the past decade or so.

Returns since inception, October 2013.

Cineplex is not necessarily a lost cause. Please read the Privacy Statement and Terms of Service for more information. When did you buy in, and what do you think is gonna happen … Iain Butler and the Stock Advisor Canada team only publish their new “buy alerts” twice a month, and only to an exclusively small group. The actual revenue decline in Q2 was 95% to $22 million against Q2 2019. Share your opinion and gain insight from other stock traders and investors. I consent to receiving information from The Motley Fool via email, direct mail, and occasional special offer phone calls.

We’ve Got You Covered with These 3 Free Stock Picks. To preserve capital, Cineplex was forced to suspend its monthly dividend since February.

© 2020 The Motley Fool Canada, ULC. For the long term, it had also invested in other areas of entertainment, such as recreation rooms and golf.

The Motley Fool Canada » Investing » Is Cineplex (TSX:CGX) Stock a Lost Cause? View real-time stock prices and stock quotes for a full financial overview. Click on the link below for our stock recommendations that we believe could battle Netflix for entertainment dominance. For surer returns, investors can look into investing in growth areas such as cybersecurity through a fund like the Evolve Cyber Security Index Fund or blue-chip dividend stocks.

In the last few years, there has been growing noise in the markets pointing to the ever-declining traffic to its theatres. Cineplex stock started 2020 close to $34 per share. The pandemic has substantially weighed on Cineplex’s every line of business, damaging revenue and cash flow. The company had been combating that with higher prices from ticket and concession sales — at least until the pandemic hit. Looking for the Next Potential Netflix? The share price had surged from $24 in December after U.K.-based Cineworld announced plans to acquire Cineplex for more than $2 billion. In the last few years, there has been growing noise in the markets pointing to the ever-declining traffic to its theatres. From the current levels of about $8 per share, it can potentially trade at $14 over the next two years for annualized returns of close to 30%! Cineplex’s stock had been trading close to the Cineworld offer price of C$34 per share through early 2020, but has since plunged 40% following the virus outbreak.

However, near-term risks are also sky high. Stock analysis for Cineplex Inc (CGX:Toronto) including stock price, stock chart, company news, key statistics, fundamentals and company profile. It’s truly heartbreaking to see the iconic Canadian name to fall from grace. Cineplex's stock was trading at C$29.95 on March 11th, 2020 when COVID-19 reached pandemic status according to the World Health Organization (WHO). This is your chance to get in early on what could prove to be very special investment advice. CGX | Complete Cineplex Inc. stock news by MarketWatch. Fool contributor Kay Ng has no position in any of the stocks mentioned.

The debentures bear an annualized interest rate of 5.75% through September 30, 2025. Even when locations reopen, there are social-distancing restrictions. Cineworld blamed Cineplex for breach of contract, but Cineplex insisted it did no wrongdoing. Of course, it came with the cost of interest. Analysts think a price of $14 per share sounds about right. Since then, CGX stock has decreased by 75.9% and is now trading at C$7.21.

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