Wizard stock down 48% today 1 1

[Columbia Comics]

Anyone heard any news?  A move down like that tends to signal the end is near....

[BlowUpTheMoon]

Edited December 3, 2018 by BlowUpTheMoon
greggy is a dork

[Mayor006]

I don't think they are doing it right. Maybe someone should turn the graph over.

[the blob]

It is already a penny stock. Can you buy the whole company for like $15k?

 

[BlowUpTheMoon]

16 minutes ago, the blob said:

It is already a penny stock. Can you buy the whole company for like $15k?

 

MARKET CAP

4.866M

[Columbia Comics]

Float is 69.5mm shares.  That’s a lot of penny stock 😬

[the blob]

50 minutes ago, BlowUpTheMoon said:

MARKET CAP

4.866M

So there are 70 million or so shares outstanding? Sounds like they should do a 15:1 reverse split to get the price up over $1. It loses like half a million a year. Not sure where it has that market cap, but there is probably some IP value.

It is a shame Wizard couldn't survive. I wonder if it had more original comic content (like 15 pages devoted per issue to a comic) whether more people would have been cool shelling out $4.99 a month for it.

Edited December 3, 2018 by the blob

[kav]

30 minutes ago, the blob said:

So there are 70 million or so shares outstanding? Sounds like they should do a 15:1 reverse split to get the price up over $1. It loses like half a million a year. Not sure where it has that market cap, but there is probably some IP value.

It is a shame Wizard couldn't survive. I wonder if it had more original comic content (like 15 pages devoted per issue to a comic) whether more people would have been cool shelling out $4.99 a month for it.

Isnt wizard ent inc the guys that put on Cons?

[mattn792]

2 hours ago, the blob said:

It is already a penny stock. Can you buy the whole company for like $15k?

 

Paul Kessler and his firm already own most of the shares if memory serves.  What his plan is for Wizard once bankruptcy wipes out the rest of the shareholders is anyone’s guess.

[the blob]

1 hour ago, kav said:

Isnt wizard ent inc the guys that put on Cons?

According to their balance sheet that is not a money making proposition, but who knows, maybe they have clever accounting turning profits into losses on paper and it is a cash cow.

[JB123]

Good! Eventually everyone will have to come to us in Columbia SC for a comic convention!

That's why the Red Skull lives in Columbia! Free Range Convention!

[kav]

44 minutes ago, the blob said:

According to their balance sheet that is not a money making proposition, but who knows, maybe they have clever accounting turning profits into losses on paper and it is a cash cow.

I thought the magazine went kaput in 2011

[nld3]

If Wizard Cons come to an end. I’m real glad to see Keystone Cons started this year in Philly. Wizard was getting less and less comic vendors every year. 

Edited December 4, 2018 by nld3

[the blob]

4 hours ago, kav said:

I thought the magazine went kaput in 2011

Yeah, but they do other stuff

[kav]

Just now, the blob said:

Yeah, but they do other stuff

I dont know much about em

[the blob]

15 minutes ago, kav said:

I dont know much about em

Conventions. I think they are trying to do the wizard mag content online, so advertising. It's funny, the mag died right before a period where new releases had a lot of speculative possibilities, lime when it started. The decade or so before it folded were not great times for new book spec. Some stuff got hot, but not like 2013 or so.

[makeminemego]

The last Wizard convention I paid to get into had more booths selling kitchen and bath remodels than booths selling vintage comics.  I'm not exaggerating in the least, unfortunately.  

[mysterio]

9 hours ago, nld3 said:

If Wizard Cons come to an end. I’m real glad to see Keystone Cons started this year in Philly. Wizard was getting less and less comic vendors every year. 

Other than Chicago none of them have been comic conventions for some time.

[mysterio]

Why does a company like this even have stock? They could buy up the outstanding shares they don't own for pennies and take the company private. Then they can do whatever they want.

[Columbia Comics]

10 minutes ago, mysterio said:

Why does a company like this even have stock? They could buy up the outstanding shares they don't own for pennies and take the company private. Then they can do whatever they want.

Companies like this sell equity publicly as a way to raise money for growth, continuing operations, etc...

its just one way a business raises funds and the buyers are looking for future cash flows as their ROI. unfortunately I believe that the equity will ultimately be worthless and the company will file for bankruptcy.  Not sure if Chapter 7 or 11 though.  

WW has been burning through cash for a while. At some point, investors stop throwing good money at bad problems.