Bankrupt Blockbuster Stock Share: Blockbuster Liquidity INC., is an American-based provider of home movie and video game rental services. Services were offered primarily at video rental shops. But later options included DVD-by-mail, streaming, video on demand, and cinema theater.
The penny stock mounted as much as 302% on Wednesday, adding to Tuesday’s 774% spike, on a tome that was 70 times the three-month average, showing that even the most regressive of old-technology stocks aren’t free to the ebullience of retail investors and day traders.
Blockbuster Video used to be a staple of towns and cities over the country, with more than 9,000 wares in 2004. The rise of streaming services quickly destroyed the business, and Blockbuster declared bankruptcy in 2010.
Tied Lieu about Bankrupt Blockbuster Stock Share:
Prior to being a legislator, I worked as an associate general counsel at a financial services company. I have concluded that investing in individual stocks is virtually indistinguishable from gambling. Exhibit 1,397 below regarding Blockbuster stock. https://t.co/FbcITilGFY
— Ted Lieu (@tedlieu) January 27, 2021
Much like GameStop, bulges for the company’s future have not changed. There’s still only one Blockbuster store left in the entire world which located in beautiful Bend, Oregon and there’s no reason to think more will be opening in the future.
The video game and movie rental company seem to be benefiting from the same wild trading practices that are skyrocketing GameStop, but it’s unclear what’s truly driving the influx of investors.
Hopefully, it makes us rethink this whole stock market thing, as it doesn’t seem to be based on any sort of existence. If a few rocketship emoji’s and tweets can cost people $5 billion, there’s definitely something wrong with your system.