Remember the days you'd get in your car and drive to your local Blockbuster, wander around the aisles looking for just the right movie, stand in line to pay, then hustle back to the store a few days later to avoid the late fee?
Those days are gone, and with them might go Blockbuster.
Blockbuster stock is down to around 36 cents as investors worry about the movie rental chain's viability as more and more customers either download digital copies from the Internet or order movies from cable.
Blockbuster is trying to diversify and offer digital movies. But online companies like Netflix and online rental stores like Apple are making brick-and-mortar stores like Blockbuster as obsolete as VCR tapes.
Blockbuster also plans to add another 7,000 DVD rental kiosks to retail locations across the U.S. as it competes against Coinstar's Redbox rental kiosks.
Blockbuster posted a wider-than-expected loss yesterday and says it's closing 500 to 545 stores over time, as well as possibly selling its international assets. It's also cutting its U.S. advertising.
Earlier this week, Wal-Mart said it is buying Vudu, an Internet video-on-demand company. It's increasingly looking like the corner video store is going the way of Beta.
What is Short Selling?
Make a profit when stocks prices fall.View Course »