How Redbox became a Wall Street darling once again
CNN
It wasn't too long ago when some movie fans found that the easiest and cheapest way to watch movies in a post-Blockbuster world was to rent DVDs from Redbox kiosks at the drug store and other retailers. Ahh, the early 2010's. The rise of Netflix and other streaming services pretty much killed that business though.
But Redbox is back. It's built its own streaming operation. And the company's stock is somewhat inexplicably one of the hottest on Wall Street, even as Netflix (NFLX) has plummeted.
Shares of Redbox are up more than 20% this year, about 55% in the past month and nearly 200% in the past three months. That's in stark contrast to the 70% plunge for Netflix, the worst stock in the S&P 500. Disney (DIS), which has its own the vaunted Disney+ streaming service, is down 40%, making it the biggest dog of the Dow.
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