Closing up shop

[The beef 675] [I'm an image] "So does this mean everything’s going straight to streaming?" - Jeff Hey there carnivores, Markets were back up on Monday, as the President made his way home. Today we’re talking the collapse of the theater industry as we know it. Keep raging, Jeff & Jason [Image] [I'm an image] Straight to DVD – Cineworld is closing Anybody who’s anybody knows that [going straight to DVD]( is not cool. Unfortunately, Cineworld has no other option at this point. The world’s second-largest movie theater operator announced that it is closing curtains for the second time this year, due to coronavirus causing delays in movies being released by production companies. And it’s not just teenagers getting (or giving) their first HJ who are going to be bummed. 45k employees are getting sent to the exits as the company closes 663 stores in the US and UK. Grand re-opening? CEO Mooky Greidinger was excited to re-open cinemas back in July but continued restrictions due to ‘rona boi have put the kibosh on those plans.And cash flow is suffering. After buying Regal for $3.6B in 2018, Cineworld has a large popcorn worth of debt making cash flow pretty tight. The real gum under the seat? Releases of commercial films like James Bond “No Time to Die” and Marvel’s “Black Widow” were delayed indefinitely. If ‘Tenet’ were actually good maybe it could have saved the industry. Thanks for nothing, Christopher Nolan. Shares of the theater company sank as much as 60% on the news before closing down 36.15% on the London Stock Exchange. The bottom line... The news isn’t only impacting Cineworld either. AMC’s stock price dropped on the news, closing down 11% for the day. And that's the second piece of bad news AMC has gotten in the last 72 hours. On Friday, S&P Global Ratings lowered its rating on the movie company, which, honestly, checks out. Both companies will be looking for cash to stay in business and potentially reopen over the holidays. [I'm an image] [Alternate text]( [Alternate text]( Join Ben Sturgill On Oct 8th at 2 PM ET Live As He Reveals The-One-Trade-A-Day-Strategy That’s Netted Him A 90% Win-Rate. And How You Can Start Using It To Pull Out Money From The Market [Reserve Your Spot Here]( [Alternate text] ☑️Settling up. Former Bridgewater co-CEO Eileen Murray [settled]( her pay dispute yesterday. In July, Murray had filed a suit against the world’s largest hedge fund over allegedly holding onto more than $100M in deferred compensation. Yeah, you’re going to want to get that back. The terms of the settlement were not disclosed, but considering what she was owed, you can bet it was a nice chunk of change. Bridgewater was allegedly holding onto Murray’s cash because she let a third party know that she’d had a gender-discrimination issue with the firm while at the helm. Before her 11 years at Bridgewater, Murray had climbed the ladder at Credit Suisse and Morgan Stanley. ☑️Caught cheating. Cisco is being kindly asked to [pay $1.9B]( after losing a lawsuit claiming it copied patented cybersecurity technology. When we say kindly asked, we mean “ordered by the court of law.” A judge in Norfolk, VA ruled that Cisco had infringed four patents that Centripetal Networks, a VA based cybersecurity firm, owned. Cisco finally realizing that WebEx sucks and trying to branch out further, huh? Centripetal says that Cisco stole its technology, that Centripetal had developed with a grant from the US Department of Homeland Security. It also alleges that this happened after technology presentations to, and meetings with, execs at Cisco. You can’t deny that the timing is pretty damning. ☑️Down for the count. Slack, to both the thrill and despair of remote workers across the country, saw [sporadic outages]( on Monday. So a lot of people were able to get some actual work done, while others logged off for the day and blamed the outages. Starting at 10 AM ET, thousands of Slack customers began to experience degraded performance and outages. According to research, employees lose 28 minutes of productivity each time they have a tech issue. And that doesn’t even count jammed printers. The down time was the second time in a week that Slack service was interrupted. Slack uses Amazon’s Web Services, which hasn’t seen any outages this week. Oh, so Amazon is definitely getting set to release its own chat service. Got it. ☑️Ready to run. NordicTrack’s parent company, Icon, raised itself some new cash. How much? Oh, just $200M. Do they charge a monthly subscription, too? Got to keep up with Peloton somehow. L Catterton and Pamplona Capital led the round, which valued Icon at [over $7B](. What’s most interesting, though, is that the round could be the first step in Icon’s process to go public within the next year. According to an unnamed source, that’s exactly what Icon is trying to do. Icon is different than many brands that try to go public, as it’s actually profitable. The company also made more than $1B in revenue in the 12 months ended in September. So clearly not everyone is letting themselves go while we’re stuck at home. RagingBull, LLC 62 Calef Hwy. #233, Lee, NH 03861 DISCLAIMER: To more fully understand any Ragingbull.com, LLC ("RagingBull") subscription, website,application or other service ("Services"), please review our full disclaimer located at [(disclaimer. FOR EDUCATIONAL AND INFORMATION PURPOSES ONLY; NOT INVESTMENT ADVICE. AnyRagingBull Service offered is for educational and informational purposes only and should NOT beconstrued as a securities-related offer or solicitation, or be relied upon as personalizedinvestment advice. 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