Showing posts from December, 2023

Purchase: Cineplex (TSX: CGX)

Purchased Cineplex (TSX: CGX) which is the dominant movie theatre chain in Canada. It was distressed due to COVID-19 shutdown and took on debt to survive.  I don't think movies are going away and theatres are still important. I think business is stabilizing and if it recovers to what it was before, it is cheap. Historically, movie theatres have been somewhat resistant to recessions as well (movies are cheaper than many other entertainment options.) Canadian dollar is also weak against US$ so I'm mostly looking at Canadian stocks nowadays. Purchase price: $8.10