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I got news from Hollywood Stock Reporter, unsolicited, in spring, about the sure shot Pinnochio was going to be, blah blah blah, be a $100M movie domestically (did they even do $10M?) and 200M foreign. One things for sure, all of Hollywood overproduced this year. You're seeing a reaction to KLOC like with Micron Tech, OVERCAPACITY, tho this time in the movie industry. Thankfully kloc not only into movies, but the shock of a dead Pinnochio release will take some time to wear off. Remember, it's not necessarily the TRUTH that moves stocks, but moreso the PERCEPTION of it. Anybody know how Pinnochio is doing overseas? I know they at least broke even, but what will it take to actually make money on this? Guess we'll have to wait till November when earnings are released. I too was amazed at their IR lack of response this summer. No people there who actually answer the phone, and they didn't know how to dial my number back either. Down a handsome 60% on this winner of a company, but loser of a stock. Incidentally, I remember from one of the articles the IR sent me, a reprint of some interview, that both Kushner and Locke pull down $300k a year. No wonder the EPS is so low! I vote they take a massive pay cut, boosting EPS, and their own stock holdings, and take the profit from that instead. Anybody second that motion? Yes, stock is undervalued, but it'll be some time before it responds. Movie capacity is way overbuilt, everyone is cutting back because there's just too much content chasing too few dollars. That's the bad sentiment keeping big money away from kloc, and other movie companies. Picked a bad sector to be in this year. What I wonder is, why did they release during the Olympics, when Twister nabbed the market all for itself in the sleepy spring? Major disappointment here, Hollywood Stock Reporter, tho if you'll pay me the $2-3 you predicted for this year all will be forgiven! |
