There are a few news items today coming out of Coinstar’s Q3 2008 earnings call from Thursday. Read the full transcript of the call on Seeking Alpha.
First off, Coinstar has confirmed that the Redbox IPO has been on hold indefinitely due to current conditions in the market. While this really isn’t anything we didn’t already know, this was the first official word we have received about it.
Of course, an IPO is still the plan and they will continue to evaluate the market and look for the right time to have another go at it.
It has been about 6 months since they originally announced their intentions to do this. What do you think now? Are you more or less likely to buy stock in a Redbox IPO now? Why?
Competition is heating up a bit and lawsuits are being filed, but Redbox is still growing nicely. I think they will make it through all of this, but only time will tell.
Please share your thoughts…