I watched the "Eat the Rich" (ref: GameStop, GME)
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Posted On: 12/21/2022 7:47:13 AM
I watched the "Eat the Rich" (ref: GameStop, GME) docu-series on Netflix. Didn't know very much about that whole debacle prior to watching it so it was interesting from that point of view. The key takeaway, at least for me, is that stock valuations can zoom to nosebleed territory for reasons only loosely related to the actual business. GameStop's share price was on a steady decline for awhile before this whole affair happened. The next thing you know the share price is in the 400's. The background for this happening is the subject of this 3 part series. Worth watching, imo.
One thing to remember is this is NOT a 'take-no-prisoners', 'no-holds-barred', 'torches-and-pitchforks' kind of investigative journalism. It even had Jim (looney tunes) Cramer (no scandals here, ... move along ... ) commenting throughout. Yea, it's Netflix. So, the point-of-view is the video equivalent of 'easy listening' muzak crap. Entertaining, for sure, but lacking the tough questions and smackdowns. The main cheerleader had his securities license permanently revoked but that was about it. Lots of money was made by some early 'investors' and lots was lost by short sellers (hedge fund), who, by the way, had every reason to short it (from an investment perspective) b/c of the business itself becoming outdated, losing boatloads of money.
There was no shortage of shenanigans from pretty much everybody and that's what makes it so interesting. At the peak of the mania ($400+ share price), the online broker Robin Hood took away the buy button on their site thereby only allowing investors to sell the stock. In the 3rd episode, you can watch the verbal gymnastics to explain that one. That alone was worth the price of admission. But again, this is Netflix, ground zero for vapid entertainment.
Shortly after the rise and fall of GME, Robin Hood went public and the two creators were heralded as the latest and greatest in the investment community. All is forgiven when there's enough zeroes in your account. In the link below, go to 'about us' and you will not hear a word about GameStop and the role they played, esp'ly the guy on the right. They look so cool. Kinda like the Google founders of 'do no evil' infamy. I feel the need to shower.
https://robinhood.com/us/en/
What can we learn from this? Firstly, stay the hell away from GameStop, LOLOLOLOLOL ... Secondly, GME was a losing company selling used video games. It hasn't gotten much better, either. Going to Yahoo Finance GME profile, this company sounds like a complete clusterf***. A bunch of electronic bullshit being pedaled to the millenia generation who, for the most part, have yet to master the whole < noun-verb-object > thingie to form a complete thought let alone spoken as an understandable sentence. These people think Sarah Palin is a top-notch linguist. And these mental zombies are your target audience?
https://duckduckgo.com/?q=gme+stock+price&...p;ia=stock - in Jul '20 it traded for $1.00 and 7 mths later, it closed at $80. On 20 Dec 2022 it rose $13 (194%) to close at $20. Go to Summary and see the EPS (ttm) is -6.29, as in minus (losing) six (6) dollars per share. But wait, Mr. Negativity, their 1st year target estimate is plus (+) $15.65 !!! Hopium is alive and well.
Is this applicable to BIEL? Gawd, I hope not. We actually sell things that help people. True, last qtr was not good, to say the least. Besides it's history and the future looks bright w/ a 975,000 unit contract looming on the horizon, the next 6 qtrs, give or take. I like our odds versus marketing recycled video games to people who think there is an actual place known as 'Cramerica'. The coming mania surrounding BIEL stock will be based on actual devices marketed and sold to people w/ real problems needing real solutions and to the medical profession in search of viable alternatives to the current opioid fiasco.
Have a Joyous Christmas and a Prosperous New Year.
"Sic parvis magma" - Greatness from small beginnings
definitely BUY_MORE_SHARES
Later, WBeacham
One thing to remember is this is NOT a 'take-no-prisoners', 'no-holds-barred', 'torches-and-pitchforks' kind of investigative journalism. It even had Jim (looney tunes) Cramer (no scandals here, ... move along ... ) commenting throughout. Yea, it's Netflix. So, the point-of-view is the video equivalent of 'easy listening' muzak crap. Entertaining, for sure, but lacking the tough questions and smackdowns. The main cheerleader had his securities license permanently revoked but that was about it. Lots of money was made by some early 'investors' and lots was lost by short sellers (hedge fund), who, by the way, had every reason to short it (from an investment perspective) b/c of the business itself becoming outdated, losing boatloads of money.
There was no shortage of shenanigans from pretty much everybody and that's what makes it so interesting. At the peak of the mania ($400+ share price), the online broker Robin Hood took away the buy button on their site thereby only allowing investors to sell the stock. In the 3rd episode, you can watch the verbal gymnastics to explain that one. That alone was worth the price of admission. But again, this is Netflix, ground zero for vapid entertainment.
Shortly after the rise and fall of GME, Robin Hood went public and the two creators were heralded as the latest and greatest in the investment community. All is forgiven when there's enough zeroes in your account. In the link below, go to 'about us' and you will not hear a word about GameStop and the role they played, esp'ly the guy on the right. They look so cool. Kinda like the Google founders of 'do no evil' infamy. I feel the need to shower.
https://robinhood.com/us/en/
What can we learn from this? Firstly, stay the hell away from GameStop, LOLOLOLOLOL ... Secondly, GME was a losing company selling used video games. It hasn't gotten much better, either. Going to Yahoo Finance GME profile, this company sounds like a complete clusterf***. A bunch of electronic bullshit being pedaled to the millenia generation who, for the most part, have yet to master the whole < noun-verb-object > thingie to form a complete thought let alone spoken as an understandable sentence. These people think Sarah Palin is a top-notch linguist. And these mental zombies are your target audience?
https://duckduckgo.com/?q=gme+stock+price&...p;ia=stock - in Jul '20 it traded for $1.00 and 7 mths later, it closed at $80. On 20 Dec 2022 it rose $13 (194%) to close at $20. Go to Summary and see the EPS (ttm) is -6.29, as in minus (losing) six (6) dollars per share. But wait, Mr. Negativity, their 1st year target estimate is plus (+) $15.65 !!! Hopium is alive and well.
Is this applicable to BIEL? Gawd, I hope not. We actually sell things that help people. True, last qtr was not good, to say the least. Besides it's history and the future looks bright w/ a 975,000 unit contract looming on the horizon, the next 6 qtrs, give or take. I like our odds versus marketing recycled video games to people who think there is an actual place known as 'Cramerica'. The coming mania surrounding BIEL stock will be based on actual devices marketed and sold to people w/ real problems needing real solutions and to the medical profession in search of viable alternatives to the current opioid fiasco.
Have a Joyous Christmas and a Prosperous New Year.
"Sic parvis magma" - Greatness from small beginnings
definitely BUY_MORE_SHARES
Later, WBeacham
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