-

Jump to content



Photo
- - - - -

Is Blockbuster done, share price went down 77% in one day to 22 cents - 3/3/2009


This topic has been archived. This means that you cannot reply to this topic.
38 replies to this topic

#1 of 39 TonyD

TonyD

    Executive Producer

  • 16,089 posts
  • Join Date: Dec 01 1999
  • Real Name:Tony D.
  • LocationDisney World and Universal Florida

Posted March 03 2009 - 04:37 PM

So while at work today we found out the share price went from 96 cents to 22 cents a share.
this was after BBV hired a firm to
"Blockbuster Hires Law Firm to Explore Restructuring"
Blockbuster Hires Law Firm to Explore Restructuring - WSJ.com

so is this it.
Can a business recover from such a drop.

Now I know there will be those who come
in here and say good riddance, they stink, I hope they rot in hell, etc.

well please add something to the conversation besides "they suck."

Working there doesn't bias me towards them in any way.
It's just a part time job essentially to appease my wife.

As a customer I like going into a video store and looking around to pick out a movie to watch.
With only 1 other video rental place in this area, i'd be
somewhat sad to see bbv go.
facebook.com/whotony

#2 of 39 Cameron Yee

Cameron Yee

    Executive Producer

  • 10,432 posts
  • Join Date: May 09 2002
  • Real Name:Cameron Yee
  • LocationSince 2006

Posted March 03 2009 - 05:31 PM

It would be the end of an era, that's for sure. Nothing on the level of GM going away, but in the home video market, certainly a big deal. Though you could argue the writings been on the wall for some time, it's just one more crazy thing in this current economy.
One thing leads to another at cameronyee.com

#3 of 39 Adam Lenhardt

Adam Lenhardt

    Executive Producer

  • 14,131 posts
  • Join Date: Feb 16 2001
  • LocationAlbany, NY

Posted March 03 2009 - 05:45 PM

Quote:
Originally Posted by Cameron Yee
Though you could argue the writings been on the wall for some time, it's just one more crazy thing in this current economy.
This is the key point, I think. Dropping 77 percent in one day is still unusual, but it's hardly unique in this market.

#4 of 39 EricW

EricW

    Screenwriter

  • 2,309 posts
  • Join Date: Jan 01 2001

Posted March 03 2009 - 06:26 PM

it's certainly ironic to see cinemas having a record year so far, while rentals stores are finally going broke.
"now, if that's a fact, tell me... am i lying?"

#5 of 39 gene c

gene c

    Producer

  • 5,699 posts
  • Join Date: Aug 05 2003
  • Real Name:Gene
  • LocationBay area, Ca

Posted March 03 2009 - 10:46 PM

Guess I better do something with that $10 gift card I have laying around somewhere. It's also indicative of how our lifestyle is changing. Some industries just can't adapt.

When I worked for Webvan, their stock price dropped from 90 cents to 22 cents three or four times before they called it quites.
"Everyday room": Panasonic 58" Plasma, Dish HD DVR, Pioneer Elite vsx-23, BDP-23 BR, dv58avi universal dvd player, Paradigm Studio 20 V1, CC-450, Dayton HSU-10 subwoofer.

"Movie/Music room": Toshiba 65" DLP, Dish HD receiver, Marantz 7005, CC-4003, BD-7006, Polk LSI25's-LSi7's-LSiC, 2 original Dayton 10" "Mighty-Mites" subwoofers. (subject to change without notice).
 
Also have  MB Quart Vera VS05 +.....too much to list. Help me.
 
 

 


#6 of 39 Kirk Gunn

Kirk Gunn

    Screenwriter

  • 1,612 posts
  • Join Date: Aug 16 1999

Posted March 04 2009 - 12:03 AM

Netflix is holding steady...

Netflix - Stock Quote & Chart

#7 of 39 ThomasC

ThomasC

    Lead Actor

  • 6,526 posts
  • Join Date: Dec 15 2001

Posted March 04 2009 - 02:51 AM

Their demise is bound to happen unless they change their business model, but it's probably way too late now. There's Redbox (less overhead), Netflix (which also has online streaming), and legal online video websites (Hulu, etc.).

#8 of 39 TonyD

TonyD

    Executive Producer

  • 16,089 posts
  • Join Date: Dec 01 1999
  • Real Name:Tony D.
  • LocationDisney World and Universal Florida

Posted March 04 2009 - 03:41 AM

Well there was a slight rebound up to 45 a share.
facebook.com/whotony

#9 of 39 drobbins

drobbins

    Screenwriter

  • 1,870 posts
  • Join Date: Dec 02 2004

Posted March 04 2009 - 05:36 AM

I have used BB since they did away with late fees and I built my theater. So far I can not see anything that beats them for my use. About $20 per month for 3 @ a time unlimited rentals and 5 in store trade-ins. So realistically we watch 8-12 movies a month for the same price as buying 1-2 DVDs. As a result we only buy "must have" titles. I tried Netflix streaming and it has a long way to improve before I can watch a movie on my 720 projector. I for one hope BB pulls through.

#10 of 39 todd s

todd s

    Lead Actor

  • 6,879 posts
  • Join Date: Jul 08 1999

Posted March 04 2009 - 05:42 AM

I hardly ever rented. But, started using the Redbox when it came out. It's cheap and convenient.
Bring back John Doe! Or at least resolve the cliff-hanger with a 2hr movie or as an extra on a dvd release.

#11 of 39 Michael Reuben

Michael Reuben

    Studio Mogul

  • 21,769 posts
  • Join Date: Feb 12 1998

Posted March 04 2009 - 05:45 AM

Banks aren't the only things getting a "stress" test!
COMPLETE list of my disc reviews.       HTF Rules / 200920102011 Film Lists

#12 of 39 gene c

gene c

    Producer

  • 5,699 posts
  • Join Date: Aug 05 2003
  • Real Name:Gene
  • LocationBay area, Ca

Posted March 04 2009 - 10:43 AM

Quote:
Banks aren't the only things getting a "stress" test!
And I bet there's more to come.
"Everyday room": Panasonic 58" Plasma, Dish HD DVR, Pioneer Elite vsx-23, BDP-23 BR, dv58avi universal dvd player, Paradigm Studio 20 V1, CC-450, Dayton HSU-10 subwoofer.

"Movie/Music room": Toshiba 65" DLP, Dish HD receiver, Marantz 7005, CC-4003, BD-7006, Polk LSI25's-LSi7's-LSiC, 2 original Dayton 10" "Mighty-Mites" subwoofers. (subject to change without notice).
 
Also have  MB Quart Vera VS05 +.....too much to list. Help me.
 
 

 


#13 of 39 Michael Reuben

Michael Reuben

    Studio Mogul

  • 21,769 posts
  • Join Date: Feb 12 1998

Posted March 04 2009 - 11:27 AM

Quote:
Originally Posted by gene c
And I bet there's more to come.
I'm sure you're right. According to an analysis by the chief economist at Business Week, nearly all of the domestic corporate profit growth for the decade 1997-2007 came from the financial sector. If that analysis is correct, then the rest of our business is in pretty poor shape.
COMPLETE list of my disc reviews.       HTF Rules / 200920102011 Film Lists

#14 of 39 Holadem

Holadem

    Lead Actor

  • 8,972 posts
  • Join Date: Nov 04 2000

Posted March 04 2009 - 11:38 AM

Quote:
Originally Posted by Adam Lenhardt
This is the key point, I think. Dropping 77 percent in one day is still unusual, but it's hardly unique in this market.
It is? In one day? Unless you are using "unique" in its strict meaning, I would think that would be an extremely rare occurence, no?

--
H

#15 of 39 Todd Hochard

Todd Hochard

    Screenwriter

  • 2,314 posts
  • Join Date: Jan 24 1999

Posted March 04 2009 - 12:10 PM

Quote:
Originally Posted by TonyD
Well there was a slight rebound up to 45 a share.
Well, whoever got in at .22 had a great day.Posted Image

I just recently signed up for Netflix, just 7 years after considering it the first time.Posted Image I like it better than BB. I haven't tried the streaming yet, but I don't have a PC hooked up to the projector, anyway.
I love to singa, about the moon-a, and the june-a, and the springa...
-Owl Jolson

#16 of 39 Todd Hochard

Todd Hochard

    Screenwriter

  • 2,314 posts
  • Join Date: Jan 24 1999

Posted March 04 2009 - 12:16 PM

Quote:
Originally Posted by Michael Reuben
I'm sure you're right. According to an analysis by the chief economist at Business Week, nearly all of the domestic corporate profit for the decade 1997-2007 came from the financial sector. If that analysis is correct, then the rest of our business is in pretty poor shape.
You mean profit growth, correct?

Bad shape indeed, since all that financial profit appears to be "fake."Posted Image
I love to singa, about the moon-a, and the june-a, and the springa...
-Owl Jolson

#17 of 39 Michael Reuben

Michael Reuben

    Studio Mogul

  • 21,769 posts
  • Join Date: Feb 12 1998

Posted March 04 2009 - 12:20 PM

Quote:
Originally Posted by Todd Hochard
You mean profit growth, correct?

Bad shape indeed, since all that financial profit appears to be "fake."Posted Image
Did I drop a word? Argh, apparently so. Posted Image Fixed.

You see? The news is so depressing I can't even manage a complex sentence accurately.
COMPLETE list of my disc reviews.       HTF Rules / 200920102011 Film Lists

#18 of 39 Stan

Stan

    Screenwriter

  • 2,144 posts
  • Join Date: May 18 1999

Posted March 04 2009 - 03:33 PM

Not a good sign.

Don't follow the stock, but I believe they're on the NYSE. Once they're below $1.00 for six months, they can be delisted. They've essentially become a penny stock.

They lose credibility, trust, it's harder for the company to get credit, etc. It's considered pretty disgraceful to be delisted.

They may not necessarily end up bankrupt, but it's usually the beginning of the end.
Stan

#19 of 39 Adam Lenhardt

Adam Lenhardt

    Executive Producer

  • 14,131 posts
  • Join Date: Feb 16 2001
  • LocationAlbany, NY

Posted March 04 2009 - 04:20 PM

Quote:
Originally Posted by Michael Reuben
According to an analysis by the chief economist at Business Week, nearly all of the domestic corporate profit growth for the decade 1997-2007 came from the financial sector. If that analysis is correct, then the rest of our business is in pretty poor shape.
I don't think it's a coincidence, therefore, that the Dow is floating around its 1997 levels right now. The market's factoring in a lot of phantom growth over the last decade.
Quote:
Originally Posted by Holadem
It is? In one day? Unless you are using "unique" in its strict meaning, I would think that would be an extremely rare occurence, no?
There are 2,773 listings on the New York Stock Exchange, and another 3,200 on the NASDAQ. If one out of every 60,000 stocks lost 77 percent of its value on a given day, it would still happen every two weeks or so. When you consider that the Dow has halved in value in less than two years and has been prone to wild fluctuations, you're in a climate where rapid sell-offs are more likely, albeit still very unlikely. When you further consider that Blockbuster is trading at less than $1, wild percentage fluctuations become more likely still. If the stock loses half its value tomorrow, it'll still have only lost ~$0.24 a share. If a company like GE (which has been hit pretty hard recently, too) lost $0.24 a share, it'd be off less than 4 percent.

#20 of 39 Ron-P

Ron-P

    Producer

  • 6,283 posts
  • Join Date: Jul 25 2000
  • Real Name:Ron

Posted March 04 2009 - 04:27 PM

I hope their not done. I just canceled my Netflix and signed on with Blockbuster. Netflix can't seem to get movies to me, all my queue says is "long wait" or "very long wait", I got tired of waiting.
You have all the weapons you need...Now fight!



Back to After Hours Lounge



Forum Nav Content I Follow