Thursday, July 19, 2012

Seven Arts Pictures plc(NASDAQ:SAPX) Breaks 2-Day Wining Streak, Now Down 8%

The shares of Seven Arts Pictures plc(NASDAQ:SAPX) gapped down this down morning after posting two straight gains since Tuesday. The stock is now down 8.24% to $0.0479 after rising over 66% in the past couple of trading sessions. Shares of the company had been under severe selling pressure since early February and have lost over 83%.
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Recently, Seven Arts Entertainment Inc. made public announcement of the release of “Drunkboat”, a tragi-comedy film by playwright cum director Bob Meyer.
Seven Arts Entertainment Inc. is the successor to Seven Arts Pictures Plc, which was founded in 2002 as an independent motion picture production and distribution company engaged in the development, acquisition, financing, production and licensing of theatrical motion pictures for exhibition in domestic (i.e., the United States and Canada) and foreign theatrical markets, and for subsequent worldwide release in other forms of media, including home video and pay and free television. The film is due relase on Friday, July 13th.
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The film is exclusively released through AMC Movie Theatres throughout major cities to include Chicago, Los Angeles, New York and Boston. Featuring John Malkovich, John Goodman and Dana Delany, the film narrates the story of where his sister (Delany) is raising her young son Abe. The film knits the experience and desires of these two men in a powerful and heart touching manner. It reflects the aspirations of two different generations - a young man's dreams of sailing the world and an older man's reconciliation with his family.
According to Gabe Toro from IndieWire the film “remains a pleasure to see, in Malkovich and Goodman, two canny pros at the top of their game”. Reviews also indicate the thrill of the movie being released all across the U.S. that too by AMC Theatres. Executive Producer Anthony Tomaska said, "Malkovich and Goodman are awesome together in this touching film."

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