Blockbuster busting up 500 stores
The news comes after Blockbuster posted a quarterly loss of $435 million yesterday, resulting in the company's stock dropping $0.07. Seven cents might not sound like much, but considering Blockbuster's stock is currently $0.30 a share right now, that constitutes an 18.9% plummet.
Blockbuster will close 150 stores in April, and by the end of the year a total of 500 stores will be shut down. This will leave the company with only 3,025 stores in the country, nearly a thousand stores less than it had in 2008.
— Will Greenwald