In spite of massive amounts of negative PR, losses of major investors and customers, and its near-bankruptcy financial situation, Blockbuster Video — like some sort of corporate zombie — continues to lurch forward. In fact, in just the last week, its stock price has almost doubled.
Additionally, it looks like Blockbuster is — at least for now — no longer in danger of being thrown off the NYSE, with its stock currently trading well above the required minimum.
Much of the interest in Blockbuster stock has been fueled by their recent exclusivity deals with a handful of studios. These deals give the video rental company a 28-day head start on new releases over competitors like Netflix and Redbox. However, it has yet to be seen if these deals will ultimately do anything to alleviate the company’s almost $1 billion in debt.
Blockbuster stock soars 40 percent [Reuters]