Blockbuster's Stock Nosedives On News It Is Investigating Bankruptcy

Blockbuster's Stock Nosedives On News It Is Investigating Bankruptcy

Blockbuster’s stock just dropped 79% this afternoon after Bloomberg published a story that said the company hired the firm Kirkland & Ellis “to evaluate restructuring options, including a possible pre-packaged bankruptcy.” Blockbuster says they’ve only hired the firm for “refinancing and capital raising initiatives,” and that they do not intend to file for bankruptcy.