you have a couple of months while the investors try to make a better offer than icahn and his group about getting out of bankruptcy...but icahn is pretty rich so his chances of getting things his way are very high...thus he will take it out of bankruptcy and all shares will be lost from what i heard....which is a good thing though...the company will be restructured (look at the board members they have now...very poor backgrounds on pretty much all of them to be running this company when compared to a board like netflix who has very experienced people from relevant industries)...they will most likely cut all the stores to the bone (only the very profitable will remain) and focus on the streaming videos...so when the new company debuts on the market i am definitely looking forward to buying that stock
Blockbuster gains nothing by keeping the current shares. They will surely cancel the old shares so that they can issue new shares and make million$. This is one of the reasons in filing for bankruptcy. Why would a struggling company file for bankruptcy and pass up the opportunity to get a few million (free) from issuing new shares. Smart investors know this and get out early, that why the drop in the pps when the announcement was made. The pps is being held high now only because of the investors that don't know this or refuse to believe it.
News 
Market Data 
Discover 
