The growth of the Cineworld Group share for today was 3.14% and cost 58.38 GBP. For six months, the shares have been steadily falling. The highest price this year was reached on March 18 and cost 120.80 GBP. Since April, the shares have gone down; the closing price was at the level of 93.80 pence per share. What is the reason for this phenomenon? Big changes occurred after the Covid-19 crisis, and this may have caused this phenomenon. Penny shares may still have a bright future, as the list of blockbusters from Hollywood studios remains strong. And don’t forget that the global box office reached record levels shortly before the public health emergency.
There is also a huge amount of debt that Cineworld carries on its balance sheet. The company warned about its ability to continue its operations continuously back in September. The Covid-19 crisis is far from over, and further rounds of life-saving fundraising, both in late 2020 and early 2021, may be in order if its doors close again.
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