Redbox’s parent company Coinstar’s (US:CSTR) shares have plummeted by 9% to $47.44 on Friday Afternoon. Two reason’s which prompted the development was first, the concern about number of DVD Titles that Redbox shall have in the coming quarter and when shall those titles will be available at the 43000 Redbox Kiosk’s for renting.
Another thing that caused the stock prices of Coinstar to take a dip was the competition given to the company by the like of Netflix, Amazon, Hulu (Video Streaming Service). Also investors are unwilling to see the response of the video aggregator and streaming application that is being developed by the Redbox and instead have gone out on a selling spree.
Source: Market Watch