Why is no one talking about the delisting?

[Ebenonce]

Seriously, this is gigantic.

[Flantanella]

delisting of what? staff.. thats been going on for awhile but Blockbusterstore482 says they are listening. Yea and my shit is gold

[bEZ]

By : Erik Gruenwedel | Posted: 02 Jul 2010
egruenwedel@questex.com




Shares of Blockbuster Inc. July 2 resumed trading at 9:30 a.m. EDT, nearly 24 hours after the New York Stock Exchange (NYSE) halted activity on the stock.

Dallas-based Blockbuster, which announced July 1 it had received a six-week reprieve from creditors regarding a $42.4 million interest payment, still faces likely delisting on NYSE after shareholders failed to approve a reverse stock split that would have brought share prices above the minimum $1 limit.

Blockbuster entered into a forbearance agreement until Aug. 13 with creditors holding $675 million in bond debt.

Despite the turmoil, analyst Michael Pachter with Wedbush Morgan Securities in Los Angeles believes Blockbuster’s business (Express kiosks, VOD placement in third party consumer electronics devices, mobile phones and cable networks) is improving slightly, despite a challenging future.

“We continue to believe that upside potential for the stock is limited in the near-term until the company can stabilize its sales, improve profitability and finalize a recapitalization plan,” Pachter wrote in a note.

Indeed, Blockbuster shares were down more than 22% to 18 cents per share in heavy mid-morning trading.

..........

[Flantanella]

honestly who would invest 18 cents a share to a company that would sink in least a year. I rather spend my money on weed and beer

[apartment110]

Hey, Ebon, read the "Blockbuster seeks reverse stock split" thread. We've been talking about the general subject for a couple of days now. BTW, stock dropped another 20% today....YAAAAAA!!!

[DavidNewlySL]

because they want us in the field to act like nothing is happening

[igniteice]

Originally Posted by Flantanella

honestly who would invest 18 cents a share to a company that would sink in least a year. I rather spend my money on weed and beer

The thing is, stocks are all about percentages. It doesn't matter if the shares are $50 or $5 each, it's all about percentages, because it's directly related to how much you invest. And with Blockbuster down at 18 cents per share, it can do one of two things in the long run:

- delist
- increase heavily

A week ago or so, for instance, Blockbuster shares rose 20% in one day. Someone who had purchase, let's say, $10k worth of shares the day before would have made $2k profit selling the next day.

Someone out there with a ton of cash just sitting around might want to say, "Oh, what the hell, let's invest a million into Blockbuster and see what happens."

[TheAnomaly]

Didn't you read the memo? Business as usual. Except for the stuff that's not.

[BUYMECAR]

meh this was bound to happen long ago.

[TheShooter87]

one thing I miss about working at BBV, is seeing the communication updates/emails with the "business as usual" tones