As we all know Blockbuster has been struggling to stay afloat for the last couple of months. The announcement of it’s shares most likely being delisted from the NYSE comes at no surprise to most investors. Blockbuster tried not to let this happen by asking shareholders to approve a reverse split or a merger between both their A and B class shares. Majority shareholders voted no against both these options and prefer to have the stock delisted.Taking a look back at Blockbuster’s stock price history: Blockbuster Inc. (NYSE:BBI) shares saw a high of almost $30 in 2002 and shareholders were receiving a quarterly dividend of $.02 per share. In 2003 shares of Blockbuster dropped more than 50% from their 2002 high, but recuperated a bit and finished the year at almost $20 per share. The years after have just been devastating for shareholders of Blockbuster seeing their share price finish 2004 at under $10 per share and 2005 at under $4 per share! Afterwards Blockbuster shares managed to increase and finish 2006 at just under $6 per share. Once again though share of Blockbuster began to fall, under $4 at the end of 2007, under $2 at the end of 2008 and finally dropping below the $1 at the end of 2009. Investor had hope for Blockbuster in 2010 but things did not work out the way most people hoped and today July 1st 2010 shares of Blockbuster are currently trading at a price of $.23 per share.
Personally I hope Blockbuster will emerge from all this a stronger and better company and that one day will become a leader in the Movie Rental Business once again.
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