Blockbuster's Set to Bust a Move Higher

The turn at Blockbuster (BBI - commentary - Cramer's Take) is so obvious that even the CEO is buying into it. When I see that John Antioco bought 220,000 shares in the open market, I say, "That's not a painting of the tape. I think he's buying to make money."

The negatives on this stock are so overdone that sometimes I wonder if people even realize all of the things that Blockbuster is to people, particularly to those who want movies now.

I subscribe to Netflix (NFLX - commentary - Cramer's Take) and use Comcast (CMCSA - commentary - Cramer's Take) on Demand, yet I still end up going to Blockbuster every weekend for games or scary movies for my kids. I know millions of people do the same thing.

These are fixtures in the community that simply have run out of competition. This is a last-man-standing play, and it fits in perfectly as a speculation stock for any portfolio.

Don't get me wrong, I love the Netflix model. But if Blockbuster hits its target of 2 million Total Access members (its version of Netflix, except you can return DVDs to stores as well as by mail) by year-end, this stock's going right to $6.

Why not be in it for that run?

Random musings: College students, listen up! RealMoney is offering you something special... a free subscription through May 31, 2007. The only requirement: You must have an email address that ends in .edu. Email [e-mail] to accept my personal invitation to come read my blog every day, plus all the other writers on that great site. Pass it on!

At the time of publication, Cramer had no positions in any of the stocks mentioned in this column.

ALL JIM CRAMER BLOG ENTRIES | POST A COMMENT | READ COMMENTS  

---

Jim Cramer is a director and co-founder of TheStreet.com. He contributes daily market commentary for TheStreet.com's sites and serves as an adviser to the company's CEO. Outside contributing columnists for TheStreet.com and RealMoney.com, including Cramer, may, from time to time, write about stocks in which they have a position. In such cases, appropriate disclosure is made. To see his personal portfolio and find out what trades Cramer will make before he makes them, sign up for Action Alerts PLUS. Listen to Cramer's RealMoney Radio show on your computer; just click here. Watch Cramer on "Mad Money" at 6 p.m. ET weeknights on CNBC. Click here to order Cramer's latest book, "Real Money: Sane Investing in an Insane World," click here to get his second book, "You Got Screwed!" and click here to order Cramer's autobiography, "Confessions of a Street Addict." While he cannot provide personalized investment advice or recommendations, he invites you to send comments on his column by clicking here.

TheStreet.com has a revenue-sharing relationship with Traders' Library under which it receives a portion of the revenue from Traders' Library purchases by customers directed there from TheStreet.com.