Thursday, August 27, 2009

BBI, Blockbuster Busts Over $1

In a day when most stocks were spiraling down penny stock BBI Blockbuster busted the $1 barrier. The stock has been under pressure since missing its quarterly estimates. After the big earnings miss I sent an email out to my closest friends alerting them to the significant role of BBI in the DVD by mail market.
Many of my friends generally do not care about penny stocks but Blockbuster is an outlier. BBI is one of the only large movie rental operations who will be able to convert to and compete with online DVD rental giant (NFLX) Netflix.
Today BBI jumped 12% and traded in a range of $.90 to $1.09. I believe BBI has the potential to trade at or above 5$ early next year and above $10 in 2010. Of course this just my opinion and I am not a financial adviser.

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