Blockbuster Inc.: Right Back to 64 Cents
Blockbuster Inc. (NYSE:BBI) shares are right back to 64 Cents and dropping after-hours, the Street is not pleased with the company's latest outlook. Tomorrow shares could get even 'cheaper'.
Blockbuster (BBI) adjusts expected EBITDA for 2009 to $195 to $205 million which comes out to a net loss of $183 to $193 million. Consumers and Wall Street are not "being kind" to ol' Blockbuster despite their latest advertising and increased inventory efforts.
Blockbuster shares have traded from 13 Cents to $1.56 over the past 12 months. After-hours shares are down 12% to 13% and trading between 62 to 64 Cents. When trading begins Thursday its going to be ugly.