RDBX soars again as retail remains stubborn and shorts become scarce
Redbox stock moved higher again on Wednesday as equity markets recovered. RDBX stock closed up 9% and is currently up another 24% in Thursday's premarket. Redbox is due to be acquired by Chicken Soup for the Soul Entertainment at approximately $0.51 worth of CSSE. $Redbox Entertainment Inc.(RDBX)$$Chicken Soup For The Soul Entertainment Inc.(CSSE)$At first glance, this looks like a great deal for Chicken Soup for the Soul Entertainment (CSSE). It has agreed to buy Redbox Entertainment (RDBX) for 0.087 of CSSE stock. At the current closing price of CSSE stock, that implies a price of about $0.51. If it is such a great deal though, why is CSSE stock contin
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Some meme stock investors are gambling on shares of Redbox Entertainment$Redbox Entertainment Inc.(RDBX)$ (RDBX39.39%)becoming the next GameStop$GameStop(GME)$ (GME0.09%)orAMC Entertainment Holdings$AMC Entertainment(AMC)$ (AMC-2.74%). The problem is, the deck is already stacked against them.Shares of Redbox, which operates kiosks for renting DVDs, are currently trading at over $9, even though the company has agreed to be acquired by Chicken Soup for the Soul Entertainment$Chicken Soup For The Soul Entertainment Inc.(CSSE)$ (CSSE19.84%)in an all-stock deal that values the shares at about $0.61 at the time of this writin
Chicken Soup for the Soul Entertainment, Inc. operates as a streaming video-on-demand (VOD) company in the United States and internationally. It owns and operates various ad-supported and subscription-based VOD networks, including Crackle, Chicken Soup for the Soul, Popcornflix, Popcornflix Kids, Truli, Pivotshare, Popcornflix Comedy, Españolflix, and FrightPix. The company distributes and exhibits content through the Crackle Plus and Redbox streaming services including AVOD, FAST, TVOD platforms, such as connected TVs, smartphones, tablets, gaming consoles, and the web through its owned and operated platforms. It also produces and licenses movies, television series, and programs; and produces long and short-form video content. Chicken Soup for the Soul Entertainment, Inc. was founded in 2014 and is headquartered in Cos Cob, Connecticut. Chicken Soup for the Soul Entertainment, Inc. operates as a subsidiary of Chicken Soup for the Soul Productions, LLC.