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Blockbuster for one name recognition. I personally do netflix but blockbuster has become the term for renting a movie even if its not a blockbuster store your going to.
Blockbuster also just recently put huge amounts of money into kiosks like red box. I dont think they can compete in this way but its another thing of value blockbuster has for someone else to acquire.
Also, I'm not expert on blockbuster but I imagine they have some type of special relationship with movie studios since they get new releases before netflix and redbox. This is also something they have to offer.
I just figure at 0.05 cents there's not much downside. Even if comes out they are going BK odds are the stock will still have a bounce or two before its gone where you could at least get your money back.
I believe Sirius Radio was in basically the same situation
Sirius had major financial trouble, as Blockbuster does now. The difference is that Sirius had customers for their products. Buy a car, get satelite radio. As car sales recovered, so did Sirius. Blockbuster no longer has a customer base, and they will not recover.
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I just figure at 0.05 cents there's not much downside.
Yes there is - 100% downside. Listen, if you really want to buy this, fine, good luck with it. I'm just trying to say that there is a lot of better places to put $1,000 to work for you, that's all.
OP, I count 9 votes AGAINST you buying BB, and 0 votes FOR. Since you were looking for advice, you might consider taking it.
If you don't, please let us know how buying $1000 of BB @ $0.05 works out for you. We humans are attracted to a tragedy as long as it happens to someone else.
I agree its a risky move but blockbuster has been having 2 and 3 cent swings every day or every other day up until the past few days and there's plenty of volume so you knwo you can sell it. If you picked up some bloka around 0.06 and sold at 0.08 thats a 33% gain.
Blockbuster has closed so many of its Chicago stores that I don't think it exists.
Even though closing stores is generally a bad thing for other companies for blockbuster that's a good thing. Think of how many blockbusters were in your city, the brick and mortar video store is dead and its a drain on their money to keep them open, thats why they are closing.
They just invested a bunch of money in kiosks like redbox. I dont think they can compete with redbox but they did just invest money in redbox so that may be part of the reason for closing the stores. They are also trying to improve their streaming video as taht's what the new thing is, not brick and mortar renta stores.
Netflix has and will continue to hurt Blockbuster. HOWEVER, I think the real Blockbuster killer will be Redbox...they are starting to appear everywhere, even in small towns in Alaska lol.
They bulldozed our local Blockbuster last week.why go rent something when you can in most cases get it for free off the net.
Investing in BlockBuster is a surefire way of losing your money.
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