Is Redbox a good investment?

Is Redbox a good investment?

Key Points. Redbox’s fundamentals are rapidly deteriorating. The long-term forecasts it made prior to its SPAC-backed debut seem far too optimistic. The stock looks cheap and ripe for a short squeeze — but it’s a dangerous investment for long-term investors.

Is RDBX stock a buy?

Out of 4 analysts, 1 (25%) are recommending RDBX as a Strong Buy, 1 (25%) are recommending RDBX as a Buy, 2 (50%) are recommending RDBX as a Hold, 0 (0%) are recommending RDBX as a Sell, and 0 (0%) are recommending RDBX as a Strong Sell. What is RDBX’s earnings growth forecast for 2022-2023?

Will Redbox stock go up?

The 2 analysts offering 12-month price forecasts for Redbox Entertainment Inc have a median target of 1.75, with a high estimate of 3.00 and a low estimate of 0.50.

Is Redbox a public company?

On May 17, 2021, Redbox announced that it reached a definitive agreement to merge with Seaport Global Acquisition, a special-purpose acquisition company. This would result in Redbox being publicly listed on the Nasdaq under the ticker RDBX. The company officially went public on October 25, 2021.

Why is Redbox failing?

But Redbox ultimately found itself on the wrong side of video history as consumers moved away from physical media. The company reported $546 million in revenue for 2020, down 34% year over year, a decline that the company attributed in part to the much slower pace of new film releases during the COVID-19 pandemic.

Who owns Redbox now?

Apollo Global ManagementRedbox / Parent organization

How can I invest in Redbox?

Contact Redbox and request a kiosk application. You can reach Redbox on the company’s website — click “Contact Redbox” for an online form. You may also contact the company by email at [email protected] or by phone at 866-733-2693.

What happens to my SPAC shares after a merger?

What happens to SPAC stock after the merger? After a merger is completed, shares of common stock automatically convert to the new business. Other options investors have are to: Exercise their warrants.

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