Movie Gallery (MOVI) Shares Plummet in Midst of Financial Woes
It wasn't such a bright day for Movie Gallery (Nasdaq: MOVI) as shares continued to slide down the charts. At the close yesterday, shares were down $1.23, or 65 percent, to 66 cents on volume of 26 million.Shares of the second-largest store-based U.S. movie rental company began to slip near the end of June, taking a dive yesterday morning after the company announced that it is unable to meet some of its financial covenants and is talking with lenders to pursue options including a possible merger or sale of the company, or a strategic alliance. Movie Gallery's same-store sales have…