Outerwall, the maker of Redbox movie rental units, is the "big loser of the day" following this "supreme disappointment," TheStreet's Jim Cramer, co-manager of the Action Alerts PLUS portfolio, said on CNBC's "Mad Dash" segment.
Outerwall OUTR data by YCharts
Surprisingly, Outerwall didn't blame its full-year reduction on the secular streaming pressures that would appear to be hurting its business, Cramer said. Instead, Outerwall said the movie releases were not that good -- the worst in four years, specifically -- and that's what's responsible for the shortcoming.
While this may be true, it concerns Cramer deeply that Redbox has the "most powerful competition on earth," meaning Netflix and Amazon.
At the time of publication, Cramer's Action Alerts PLUS had no position in companies mentioned.