Thursday, March 12, 2009
Picked Off By Blockbuster
Last Tuesday, just after lunchtime, I stopped by Blockbuster with my kids. We rented the all-time classic 80s kids' flick - The Goonies.
The clerk there talked me into joining and anteing-up for the *Blockbuster Rewards* program.
So what do ya know?
I get home later that afternoon and see headline rumors about Blockbuster filing for bankruptcy.
Look at the intraday chart above. Seemingly, once they got my $10, they decided to *file*!
Alright, they haven't officially filed yet, but it won't be long.
25% of the float is shorted even though this turd trades well under a dollar per share.
Adding insult to injury,.....The Goonies was all scratched up. We had to skip the best part where the kid gets to make-out with his older brother's girlfriend.
Captain Lou Albano, "Rowdy" Roddy Piper, Bobby "The Brain" Heenan, the Iron Sheik,....and Cyndi Lauper!