Gamestop. AMC theaters. Hedge funds. Reddit. Robinhood.
Who is trustworthy and does it matter?
Gamestop as a company shouldn’t be doing all that well, honestly. With a ton of brick & mortar stores in a pandemic and an audience who has largely shifted to online playing and buying, I’m kind of surprised to see them still in business. [Interesting side note, they’re headquartered right here in Grapevine, Texas but I’m kind of happy that doesn’t get a lot of airplay.] Their stock price was probably on target at $5/share.
Mob mentality is weird. And scary. I don’t have a full knowledge of why a bunch of people on an internet forum decided to gang up and attack. The first reasons given (as I understand them) were that they were fighting against the system. It was a power play. But in the end, I think it was about greed. They figured out a way to beat the hedge funds at their own game.
I don’t like the fact that the markets shut it down. That doesn’t seem like a free-market economy; I also understand why they did it. It could have spiraled at a massive scale quickly and done some serious damage to an economy that already has some fissures in it. I have a feeling the occurrences from this week might cause some changes to the rules.
I like to play 42. Though I don’t play it all that often. It’s a game of dominoes. You play with a partner against another team of two. There are seven hands each round and your goal is to try and bid the right amount of hands (and points) you think you can get. Some times you just don’t have it and you are mostly just a filler, helping your partner or trying to trip up your opponent. (more…)