Blockbuster's Set to Bust a Move Higher

This column was originally published on RealMoney on Nov. 22 at 1:28 p.m. ET. It's being republished as a bonus for TheStreet.com readers. For more information about subscribing to RealMoney, please click here.

The turn at Blockbuster(BBI Quote) 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 Quote) and use Comcast(CMCSA Quote) 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?

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