I too was a pre-holder of WM
Blockbuster didn't know there we're two different tickers, nice gains. I had it @ .18 before BK and now it's .23?!? I almost bought some at .07 but other plays looked more appealing however with a triple of that purchase I'd sold half today for sure, if not all. My reasoning...
End of the year and most HAMMERED down stocks run especially if they we're listed on the bigger boards. Biotechs that are still listed and under a buck seem to do it often.
I personally wouldn't touch ol'BBI here even though it could run for three days. Don't know how many it's been yet but locking in gains are always good.
Another possibility is the CEO of Panera on Crammer yesterday or the day before. Crammer said something about 'blockbuster and I don't now if they're buying the real estate form BBI or working with BBI and putting their products inside. All I know is that video stores including BBI are closing left and right. However I see BBI dollar rental boxes competing with 'redbox' and streaming off the net against Netflix. So depending on debt would be if current shareholders get wiped. That would be my expectation, but I'd venture a guess that the stock will retrace to .05 whenever the run ends and probably shortly into 2011 for tax losses in a different year. I spread my LEH losses over 08 and 09 taxes and bought it back after 30 days for 'flipping' I'd avg'd down my WM and it use to be lower than LEHMQ, but they both ran almost in tandem. So if you're already in BLOKA and profiting, then have a plan and stick with it. I didn't with WAMUQ I had 250,000 U's then added another 150,000 for flipping and my GREED had me hold on 3/10/10 when I was up over $220,000 w/ 57K invested. Should have sold the 150K that morn and it would have been around 100,000 which isn't chump change. So I had a plan and didn't follow it. LESSON LEARNED
Hope this helps and GLTY :-D
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