They were going down from Beware of offshore drilling shirt 1 and then launched a massive initiative to renovate every theater in an honestly impressive way. The move had potential, but also built a lot of debt that they were going to have to navigate. Then Covid happened and made it look like that debt was going to be the end for them. But this week’s conversion of all debt to equity just zeroed out their balance and left them in a better position than they’ve been in for years. They have nicer theaters coast to coast than they did in 2015 and they have none of the debt that they acquired between then and now. Yes, the theater industry is still weaker than ever due to the prevalence of streaming releases, but I don’t think that is enough to make them completely outdated. I don’t think a price target in the mid-20’s is unreasonable. I am not a financial analyst. I am a meat popsicle.
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Thanks for the info, I didn’t know about the Beware of offshore drilling shirt 1 and the removal of debt. So basically they are primed and ready to tear it up after the pandy for probably at least a year or two as a rebound from everyone being shut away. This makes me more interested in giving it a shot than I was previously.