Redbox Entertainment Inc. (RDBX) declined in the current market after announcing a press release about its sec filing. RDBX stock plummeted over -48% intraday to trade at $2.75 a share on NASDAQ. The stock closed at $5.33 at the end of the previous trading session. The stock volume traded in the last trading session was around 224.16K shares.
Redbox Entertainment Inc. (RDBX) SEC Filing
RDBX plunged in the current market after the company announced sec filing. Redbox Entertainment Inc. (RDBX) liquidates 6.0625 million common stock shares at a par value of $0.00001 per share. It will be issuable upon the exercise of private placement warrants. Up to 10.781 million shares of Class A common stock and up to 32 million shares of Class A common stock underlying an equal number of Class B common stock shares at a par value of $0.0001 per share.
Their common stock is listed under the ticker symbol on NASDAQ at RDBX and warrants at RDBXW.
What do analysts have to say about RDBX stock?
Analysts at WSJ and Zacks anticipate that investors should keep the stock on hold at the moment, and you can also buy its shares at its decline for future capital gain. They expect the stock to reach the highest value of a maximum of $35 per share. On Average, it will be around $21, and the lowest price could be $15 per share. The median price of the share is will be $17.
The analysts expect RDBX to announce an EPS of $3.28 for fiscal 2022. They expect the EPS to range between $3.09 and $3.46.
Many analysts have changed their rating from sell to buy, including Zacks Investment research, WSJ, UBS Group, and Wedbush.
What next?
RDBX’s stock is highly volatile right now, and it is preferred by the top industry analyst to keep it on hold if you have any of its stock. But if you are planning to buy its stock, it is the one in a million-time opportunity to buy as they are betting a massive increase in the future. Currently, it is trading for $2.75, and the minimum it will reach is $15 per share, and the maximum it can go is $35 per share.
