… What price target have analysts set for CGX? Hot New Top Rising. The problems keep piling up for Cineplex Inc. as the nation’s largest theatre operator stares down the brutal reality of the COVID-19 pandemic. A leading entertainment and media company, Cineplex welcomes millions of guests annually through its circuit of theatres and location-based entertainment venues across the country. It is also one of the most shorted stocks in North America. Cineplex’s stock had been trading close to the Cineworld offer price of $34 per share through early 2020, but has since plunged 40 per cent following the virus outbreak. Posted by 18 hours ago. The health and safety of our employees and guests is paramount and while measures like enhanced cleaning protocols and social-distancing policies were put in place, the time has come for us to do more. 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. Browse from over 8500 HD movies including the latest releases and earn SCENE points every time you rent or buy. Cineplex (TSX: CGX) is a top-tier Canadian brand that operates in the Film Entertainment and Content, Amusement and Leisure, and Media sectors. Why Sundial, AMC, Blackberry, and Other Reddit Stocks Soared Today Get ready for round two of the battle between the bulls and bears. In a pandemic world where efficiencies are key, there's so much overlap between the two theater chains that it could help Cineplex … Hot New Top. 6 Wall Street analysts have issued 12-month price targets for Cineplex… In addition to being Canada's largest … Shares of Cineplex were down 8% in late morning trading at the time of this writing. Cineplex stock dropped 1.75% on March 18. Author of the article: Bloomberg News . Log In Sign Up. card classic compact. 439. pinned by moderators. Cineplex shares were ahead eight cents, or 1.7 per cent, at $4.71 in afternoon trading after falling as much as seven per cent earlier in the session on the Toronto Stock … To our guests and partners, Our team has been closely monitoring COVID-19 and concerns about the virus continue to escalate. As you may remember, we recalled the first plunge in CGX stocks when our dividend lover was still close to record highs. TORONTO -- Cineplex Inc. says all its theatres and entertainment venues will be open later this week. Hot. The share price of Cineplex (TSX:CGX) continues to give back the brief gains it racked up last month. Separately, Fitch Ratings placed Cineworld’s B+ rating on review for downgrade on Monday, citing uncertainties about its business because of the virus impact. The downgrade came after the company released its second-quarter financial results, which … In February, the company sold its $250 million unrated bonds at a lower yield than previously offered. The Media reporting segment is comprised of the … That was not the only stock to benefit, at least briefly, from the populist revolt in the markets. Cineplex … It responded to strong demand from investors betting on an economic recovery trade. Join. So far, the stock has not seen the same gains experienced by GameStop. Its shares have shot up 61% in 2021 so far. (The stock closed at $7.29, up 8 cents on Thursday.) amcstock r/ amcstock. I’m downright bearish on this stock and continue to … “We saw in the last couple of years a lot of consolidation deals in the … Cineplex … Photo by Cineplex “The deal is being done first of all to improve the experience of the public and having more customers and second to get efficiencies in other costs,” Mooky Greidinger, chief executive officer of Cineworld, said in an interview. I strongly believe that these two catalysts will be huge momentum for the company itself (not just the stock) and will further confirm our eventual destination to the moon. Retail & Marketing; News; Cineplex to start legal proceedings after Cineworld backs out of $2.15-billion takeover . The Film Entertainment and Content reporting segment includes all direct and ancillary revenues from theatre attendance. Watch online or look for the Cineplex Store app on your Samsung or LG Smart TV, Roku, Android, iOS, or Xbox One and enjoy movies from anywhere! The profit was so meaty because the puts Choi bought were close to expiration and far out of the money. Cineplex (TSX:CGX) stock has been on a wild ride over these past few years, to say the least. Cineplex stock plunges to record low as James Bond film delayed Back to video Cineplex fell 27 per cent to $4.93 at 1:25 p.m. trading in Toronto in its biggest intra-day decline since March 17, when Canada’s largest movie-theatre chain first closed locations to limit the spread of COVID-19. Investors are betting on a rebound, but Cineplex still has a long way to go. r/amcstock: The Official AMC Stock Subreddit. In the COVID-19 era, Cineplex is a sitting duck. Since then, CGX shares have decreased by 59.3% and is now trading at C$12.18. Rising. With all the retail buzz from the Reddit crowd around American peer AMC Entertainment, this isn’t surprising. Cineplex adults-only theatre with personal food service. In the late winter, I’d suggested that investors should stay away from Cineplex (TSX:CGX) and the movie theatre industry at large. Investors of … Cineplex Stock: 3 Reasons to Make a Bold Buy in May By The Motley Fool - Apr 28, 2021. Cineplex's board of directors recommended that shareholders vote for the acquisition and the company's shares soared more than 41 per cent, or $9.94, to $33.95 on the Toronto Stock Exchange Monday. Press J to jump to the feed. A social media blitz, originating on Reddit, has sparked a huge run for shares in the video game retailer. When the stock of Roku, a streaming-service provider whose shares tend to fluctuate, cratered 19 per cent on Sept. 20, Choi’s initial US$766 investment in Roku puts — a bet that the stock would decline — ballooned to US$50,553 overnight, a 6,500-per-cent gain. This is a company that has a series of headwinds that I see as being detrimental to the long-term health of this company. AMC Entertainment, the largest cinema operator in the United States, saw its shares surge in trading yesterday. The stock has been a roller coaster, and more of the same can be expected heading into year’s end as investors place their bets to play the coming economic reopening. Earlier, Cineplex reported a net loss of $121.2 million or $1.91 per share, down from the $13.4-million or 21-cents-per-share profit it reported last year at the same time. Pandemic impact on Cineplex stock Cineplex stock started 2020 close to $34 per share. While not one of the most shorted stocks in the U.S., the Reddit crowd might still find CGX stock an attractive proposition at … Additionally, Cineplex operates in a sector I would describe as being in secular decline. Cineplex stock has sure been one of the hardest-hit stocks due to the coronavirus crisis. Is Cineplex Stock Really a Cheap Investment? Contrarian investors who missed the August rally want to know if this is a good time to add Cineplex stock to their portfolios. Cineplex is a stock I’ve talked about that could have the potential to go bankrupt over the long term. The company was hit by a double downgrade Sunday, with analysts from BMO and National Bank both lowering their estimates for shares of the firm. The Motley Fool. The post Why Cineplex (TSX:CGX) Stock Remains a Risky Investment appeared first on The Motley Fool Canada. Cineplex has not attracted near the attention of the other “meme stocks” in the past week. Cineworld said Cineplex breached the terms of their merger agreement and was unwilling to correct the situation . Just before the pandemic Cineplex was supposed to be bought by Cineworld for $34/share but due to the pandemic, Cineworld backed out. Cineplex is now $13.14/share so could probably be bought for half as much. Reddit; Pinterest; LinkedIn; Tumblr; Breadcrumb Trail Links. Cineplex stock (TSX:CGX) continues to lose money, trading well below all-time highs. But with movie theatres opening once again, we now have hope that things will slowly improve. BMO analyst Tim Casey downgraded the stock to an underperform and … However, I’m going to discuss why there’s reason to be cautious with this stock right now. card. The theatre chain operator stock Cineplex (TSX:CGX) has soared almost 200% since the vaccine launch in October last year. There’s a lot going right for Cineplex stock right now. Cineplex Inc. says it lost $89.7 million in its latest quarter as a majority of its theatres remained closed or under strict operating restrictions. Facebook Twitter LinkedIn Tumblr Pinterest Reddit WhatsApp Telegram. The company has three business segments, Film Entertainment and Content, Media and Amusement and Leisure. Definitely within AMC's cash capabilities. User account menu. And now the stock is rallying, because the company has survived and maybe will start to thrive again. However, its stock has had a strong start to 2021. Shares are up dramatically from their pandemic lows of last year. I do not believe that things will go … Cineplex (TSX:CGX) is a stock I’ve talked about that could have the potential to go bankrupt over the long term. Nick Turner and Davide … Shares of Cineplex Inc. fell more than 10 per cent after a short-seller suggested the company's $2.8-billion deal to be acquired by Cineworld PLC could fall apart or see the price reduced materially. Cineplex has taken steps to survive the crisis. First, the good news. Press question mark to learn the rest of the keyboard shortcuts. "Cineplex Inc is a diversified media company that operates chains of movie theaters. I am one of the biggest bears Cineplex In stock for many years. AMC Entertainment (NYSE:AMC) is 10.3% lower in some apparent profit-taking today, though it's also moving lower in line both with Reddit-fave peers and fellow cinema stocks. I sounded a warning, warned investors about the drop, and emphasized four reasons why it was time to break the name. 4 2 & 4 More /r/AMCSTOCK Live Chat Lounge … In Canada, Cineplex stock is a name that is often thrown around as a potential candidate. View which stocks have been most impacted by COVID-19. For $ 34/share but due to the long-term health of this company am one of the hardest-hit due. Start legal proceedings after Cineworld backs out of $ 2.15-billion takeover time to the. 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