Greenfield is entitled to his opinion for sure but he no doubt was trying to influence the market with his downgrade. The timing could not have been more obvious. Let's take to the airwaves on the day when potentially the biggest movie in history is being released and say the marker of that film is overvalued. Sounds about right. Sure there was some "sell the news" baked into the sell off but him being on CNBC yelling "sell Disney" was a pure manipulation effort.
Like I said he no undoubtedly made money on the drop from $120. I just hope he didn't sink it all into NFLX. :)
Greenfield is a #$%$. Clown came out with the downgrade of DIS conveniently the same day Episode 7 was released. He was running his trap on CNBC and any other outlet that would have him on about how DIS was overvalued and NFLX was the better play. He was obviously short DIS and surely made money on the drop from $120. I said at the time that his positioning in the stock should be investigated as he was clearly engaged in blatant market manipulation.
I hope he is getting burned on his NFLX position. I can't stand guys like him. Let the markets play out freely and fairly.
I agree. I took my nephew to see it yesterday and I actually enjoyed it for the most part. I've seen better but I've seen much, much worse. Affleck did a solid job despite my own very low expectations. I think it sets the franchise up for better movies down the line despite the harsh reviews.
With the Carmike acquisition AMC is now the largest theater chain in the United States. 2016 is going to be a banner year for theaters and the increased footprint is only going to make AMC more profitable.
Reasons to be Bullish:
1. Largest theater chain
2. Great 2016-2017 movie slates
3. Nice, steady dividend
4. Largest IMAX footprint of any chain
This stock is still under the radar. It doesn't trade a very high volume so that tells me not too many institutions have gotten on board yet. AMC to me is the best pure play in the exhibitor space out there. Their theaters are super-comfortable as they have invested quite heavily into the customer experience. Add to that fact that they have the largest IMAX footprint in the business, a strong balance sheet and pay a 3.5% dividend yield.
Consider this a buying opportunity. The film slate for this year is the best it has been in a very long time. Not to mention the year closes out with another 'Star Wars' movie. I expect this to be a very good year for AMC. Plus you get paid a nice 3.5% dividend to wait.
Just take a look at what happened to Disney when Star Wars came out. It ran up to $120 in anticipation and then conveniently got downgraded the morning the movie came out. The stock tanked and has yet to recover although it is off the lows set around the $86 level.
It looks to me like IMAX was another "buy the rumor, sell the news" victim this time around. A 13% decline seems overdone but eventually the stock will recover. IMAX is still the premier large-screen format out there and the best entertainment your money can by at the multiplex.
PAAS posted a larger than expected loss this morning and the stock is still rallying to the upside. This is a very good sign. The miners in general seem to be indicating that precious metals have finally bottomed. Nothing is guaranteed but this rally looks really good right now.
As Ekave36 mentioned above; AAPL was once rumored as a potential suitor for IMAX as was Disney. It seems unlikely but it would not totally shock me if Apple took the plunge while Disney seems a lot less likely due mainly to conflict of interest with other studios.
I posted several years ago on the RGC (Regal) message board that Regal or Cinemark should buy out IMAX. This was when IMAX was struggling with a massive debt load and the stock was literally in the toilet. RGC or CNK could have bought them out on the cheap and had the technology all to themselves. Huge missed opportunity if you ask me.
Thank you for the kind words. I haven't been posting much on the boards in recent years but I still keep a close eye on the exhibitor stocks.
Below are my thoughts.....
Over the past several years I have owned shares in IMAX, RLD, RGC, CNK and most recently AMC. I was in IMAX heavily from 2009-2013 but don't currently own any shares. I started accumulating AMC last October as they had been on my radar since they IPO'ed. I am a huge movie fan so I kind of stick with the "invest in what you love" mentality when it comes to exhibitor stocks.
The debt load you cited has always been a concern of mine as well but less so in recent years. I watch the dividend payout closely and if the company has a strong balance sheet I feel comfortable investing in them. AMC and CNK are the two I like most right now and I chose AMC pretty much on a valuation basis. I think they have the most potential upside plus I love their exposure to the IMAX format. With 2016 set to be a banner year for the exhibitors I see them all doing pretty well this year with AMC, IMAX and CNK as the stand out winners.
I honestly have never give Dolby much thought but I will put in on my radar. I guess I fell so much in love with IMAX that I didn't care to look at other premium format competitors. I'll take a look at them though. They pay a dividend so that has sparked my interest.
As far as RLD...you said it best; they are the "poor man's 3D experience." I've seen some movies in the format and honestly it just doesn't stand up to IMAX in any way, shape or form. I initially thought of them as a buyout candidate but that has gotten less likely as the years have gone on. I made some money playing the stock a few times but haven't looked at that one in a long time.
Both stocks had a huge pop yesterday on the bullish news surrounding Deadpool's record breaking weekend. I am a huge IMAX fan and see most of the big tentpole pictures in the format. For my money nothing beats the experience. It's the sound quality that sets it apart from any other format IMHO.
With that being said, IMAX is a good stock to own over the long term but I believe AMC is even better. AMC has the the largest IMAX footprint of any theater operator. They have invested heavily in their theaters making them more of a luxury experience. They added restaurants, reclining seats and a larger array of food and beverage choices. On top of all of that they pay a nice dividend currently yielding over 3.5%.
There's nothing wrong with owning both names but I think AMC is pretty much a "proxy play" on IMAX with the added benefit of the dividend.
'Deadpool' shot out of the gates last week with record-breaking numbers for a February release. Just about every month going forward is going to feature a big time release with several superhero movies on tap. This summer is going to huge and then we top it all off in December with Star Wars: Rogue One. I fully expect 2016 to be a banner year for exhibitors.
March - Batman v Superman
April - The Jungle Book
May - Captain America: Civil War & X-Men: Apocalypse (Huge)
June - Independence Day: Resurgence & Finding Dory
July - Ghostbusters, Jason Bourne & Tarzan
August - Suicide Squad
September - Deepwater Horizon
October - Inferno
November - Doctor Strange & Trolls
December - Star Wars: Rogue One
I am accumulating AMC at current levels and remain a buyer up to $24.50.
Yeah it sucks but it is what it is. DIS got ahead of itself running up to $120 last year so this correction was coming eventually. It's just that now that correction is way overdone. I don't understand the sell off today after the blowout quarter but I've seen stranger things in the stock market.
If you're bullish on DIS long term this is a chance to add to your position depending on your cost-basis. I made the mistake back in 2010 of trying to trade this stock and I lost out on tons of potential profit. I had a core position averaged in at about $29/share. This was well before the LucasFilm acquisition. I tried to get cute and sold out when the stock ran up to $35 thinking I could buy back in under $30 on a correction. The "Street" was saying to sell DIS since it was at multi-year highs and buy back in on a dip. Well the dip never came!
I eventually bought a chunk of my position back at $64 and plan on holding that for kids. If they take it down under $80 I'll add to my position. This is a great company with the best library of content in the world. If there was ever a "buy and hold forever" stock out there Disney is it.
Silver appears to be breaking out of the long, painful, nearly 5-year correction and is up huge on volume today. CNBC talking heads even starting to turn bulling on gold and by proxy silver. Picked up some summertime upside calls. Let's see what happens.
Patience. I think AMC will do well in Q1 of next year. Unfortunately everything Star Wars related got sold off over the past few sessions. They lumped AMC in with DIS, HAS and other theater stocks. The sell off makes no sense but it's ultimately a buying opportunity. I added to my AMC position today.