Blockbuster has announced that they are in danger of being de-listed from the NYSE because they do not meet the minimum market capitalization requirements. Market capitalization is a measurement of the size of a business equal to the share price times the number of shares outstanding of a public company. The NYSE requires businesses to have a market capitalization of at least $75 million over a 30-day trading period.
Back in the day there used to be these things called VHS tapes. They used to cost a lot of money — so there were these places you could go to rent them. The last surviving relic of this bygone era, Blockbuster Video (also known as the company that was almost stupid enough to buy Circuit City), announced in a regulatory filing today that it plans to close over 800 stores by the end of next year. This is nearly twice the number they previously announced.