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Post by Lizuka #BLM on Jul 12, 2023 22:22:47 GMT -5
Don't know if anyone else is even aware of this but it's something I've been kind of fascinated by the past few days, this small subsection of people who are continually doubling down on Bed, Bath & Beyond's utterly worthless stock thinking their bankruptcy and impending shutdown is all a front for a secret merger with Gamestop and AMC to challenge Amazon or something. It's kind of just this wild shit I'd really love to see a documentary on at some point.
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Gunhaver
Team Rocket
"Gunhaver! You actually have a gun!"
Posts: 871
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Post by Gunhaver on Jul 13, 2023 13:06:24 GMT -5
Don't know if anyone else is even aware of this but it's something I've been kind of fascinated by the past few days, this small subsection of people who are continually doubling down on Bed, Bath & Beyond's utterly worthless stock thinking their bankruptcy and impending shutdown is all a front for a secret merger with Gamestop and AMC to challenge Amazon or something. It's kind of just this wild shit I'd really love to see a documentary on at some point. There are a few meme stock documentaries out and I'm sure there will be more coming. But if you're interested in one of the more prolific BBBY bag holders than man oh man, have, I got a video for you. I missed most of the initial GME stuff as it was happening, so I've been watching the BBBY adventure pretty closely. It's fascinating and I have no idea who to blame for this level of brainrot.
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Post by Natural Born Farmer on Jul 13, 2023 13:16:14 GMT -5
Was really amusing seeing so many people willingly join what basically amounted to a pump and dump scam that was barely pretending to be anything else.
Like, did anyone genuinely think GameStop or BB&B were going to recover as businesses?
If they knew that and bought the stock anyways, did they ever consider that at some point a hell of a lot of people were going to be left holding the bag?
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Gunhaver
Team Rocket
"Gunhaver! You actually have a gun!"
Posts: 871
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Post by Gunhaver on Jul 13, 2023 14:48:53 GMT -5
Like, did anyone genuinely think GameStop or BB&B were going to recover as businesses? Most of these people are barely aware of what investing is, let alone understand a pump and dump. It's bunch of people holding hands hoping the power of friendship will make the line go up, and if it doesn't it's because hedge fund managers have committed crimes against them. The generation who struggled to understand how people fall for 419 scams are happy to keep shoveling their money into a trash fire without a hint of self-awareness.
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Post by poodoojenkins on Jul 13, 2023 16:10:06 GMT -5
I have a friend who still has a bunch of money tied up in GameStop stock.
I used to hear about it everyday. Now, every great once in awhile, he'll mention some thing that he thinks means it's about to get real, but I hardly ever hear him talk about it anymore.
He tried to convince me and my girlfriend to invest, but there was absolutely no way. I'm no stock wiz, but I know bullshit when I see it.
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Post by Lizuka #BLM on Jul 13, 2023 21:13:49 GMT -5
Like, did anyone genuinely think GameStop or BB&B were going to recover as businesses? I can at least see how someone who doesn't know better could think Gamestop has a future (though it most certainly doesn't), since its stock price is still fairly high compared to a lot of companies and video games are big, plus if you're an NFT bro you could think their marketplace will end up not just being an embarrassing money pit, but, like, Bed, Bath & Beyond has sold off its IPs, declared bankruptcy, closed most of its stores, and is even selling the shelves and stuff in the remaining ones. I have no clue how on earth someone could fail to grasp that it is, in fact, over.
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Post by A Platypus Rave is Correct on Jul 13, 2023 23:54:07 GMT -5
Like, did anyone genuinely think GameStop or BB&B were going to recover as businesses? I can at least see how someone who doesn't know better could think Gamestop has a future (though it most certainly doesn't), since its stock price is still fairly high compared to a lot of companies and video games are big, plus if you're an NFT bro you could think their marketplace will end up not just being an embarrassing money pit, but, like, Bed, Bath & Beyond has sold off its IPs, declared bankruptcy, closed most of its stores, and is even selling the shelves and stuff in the remaining ones. I have no clue how on earth someone could fail to grasp that it is, in fact, over. Gamestop has also at least posted a profit like last quarter as well.
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Post by Banjo Is Broken on Jul 14, 2023 2:09:42 GMT -5
Everyone is just holding out hope that Batman is still working there.
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Post by Lizuka #BLM on Jul 14, 2023 2:20:57 GMT -5
I can at least see how someone who doesn't know better could think Gamestop has a future (though it most certainly doesn't), since its stock price is still fairly high compared to a lot of companies and video games are big, plus if you're an NFT bro you could think their marketplace will end up not just being an embarrassing money pit, but, like, Bed, Bath & Beyond has sold off its IPs, declared bankruptcy, closed most of its stores, and is even selling the shelves and stuff in the remaining ones. I have no clue how on earth someone could fail to grasp that it is, in fact, over. Gamestop has also at least posted a profit like last quarter as well. Yeah, their Q4 for last year was profitable, though looking around it was the only profitable quarter they had in 2021 or 2022 and Q1 for this year wasn't either. Still, it's at least showing the business is still conditionally capable of making money for the moment.
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lucas_lee
Hank Scorpio
Heel turn is finished, now stripping away my personality
Posts: 6,974
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Post by lucas_lee on Jul 14, 2023 7:17:47 GMT -5
I would say don't do it. The guys that are telling folks to join in are folks that can afford to lose money and people that don't know any better is gonna be stuck in debt. I hate how this got turned to a meme without discussing the damage it does to people's finances if you don't pull out in time (and of course the hucksters that started won't say anything either so they can get more of the profit)
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Post by Lizuka #BLM on Sept 22, 2023 14:58:37 GMT -5
So the stock's being wiped out on the 30th and its current value is only ten cents and falling further rapidly, but there are still people somehow how managing to convince themselves that they have nowhere to go but up and that they're all going to be billionaires. Just wild shit, whole thing's really fascinating.
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Post by Lizuka #BLM on Sept 29, 2023 16:18:14 GMT -5
Well, market's closed for the weekend and the stock dies tomorrow, so anyone who hasn't gotten rid of theirs yet is stuck with it. Curious when / if reality will set in on this whole thing for them.
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Gunhaver
Team Rocket
"Gunhaver! You actually have a gun!"
Posts: 871
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Post by Gunhaver on Sept 29, 2023 17:54:14 GMT -5
Well, market's closed for the weekend and the stock dies tomorrow, so anyone who hasn't gotten rid of theirs yet is stuck with it. Curious when / if reality will set in on this whole thing for them. At least one platform, I wanna say Robinhood?, disabled buying and selling today, I believe.
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Post by The Dark Order Inferno on Sept 30, 2023 9:15:12 GMT -5
It's like crypto, a bunch of people who had money to spare hyped up a thing, got others to buy in and cashed out quietly while telling others to buy or 'hodl' as they're sticking it to the rich. The later waves of suckers can't cash out even close to what they paid unless others buy in so act like the Iraqi information minister, pretending there's good news just over the horizon when all there is, is another steep drop.
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Mozenrath
FANatic
Foppery and Whim
Speedy Speed Boy
Posts: 121,975
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Post by Mozenrath on Sept 30, 2023 11:36:06 GMT -5
Bed, Bath, And Beyond Redemption.
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Post by darbus alan on Sept 30, 2023 14:55:26 GMT -5
I'll always remember a sign from a Photoshop Phriday on Something Awful for "Bed, Bath, and Beyond the Gates of Hell."
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J. Hova
Don Corleone
Emotionally exhausted and morally bankrupt
Posts: 2,050
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Post by J. Hova on Sept 30, 2023 15:28:35 GMT -5
These people are delusional. They think that they are going to recreate the short squeeze that happened with AMC and GameStop. They aren't. They think that they are going to recreate the parabolic rise of Bitcoin. They aren't. They essentially bought a horse and buggy while Ford is introducing the Model T.
I won't lie, I made some decent money a couple of years back with crypto and I thoroughly enjoyed watch some hedge fund managers losing their mind over their short positions. I understood that for every Bitcoin, there was a Moon Rise or whatever the hell was the name of that coin that essentially told you it was a ponzi scheme (early investors got paid based on later adoption by people and was introduced at like .000000000001 cents or something like that).
There is no get rich quick shortcuts, folks. You can build wealth over time, but with extremely few exceptions, you won't go to bed tonight and wake up rich tomorrow.
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Post by Lizuka #BLM on Sept 30, 2023 15:36:40 GMT -5
So now these people seem to think that a butterfly on the cover of one of Ryan Cohen's shitty kids books is a secret code to them that the stock is only being suspended rather than extinguished. Guess if they weren't the types to endlessly double down they wouldn't have wound up in this position to begin with but still.
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Kalmia
King Koopa
Happy to be here
Posts: 12,525
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Post by Kalmia on Sept 30, 2023 16:01:35 GMT -5
Before anyone invests in stocks they should be forced to watch that episode of The Simpsons (Homer vs. Patty and Selma) where Homer invests in pumpkins and thinks that because they're going up in value throughout October, they'll continue going up in value. He doesn't sell them and ends up in debt.
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Post by Lizuka #BLM on Oct 1, 2023 5:56:37 GMT -5
Here's a fantastic video going into detail about the whole stupid saga for anyone curious. Bed, Bath & Beyond itself comes into it pretty late in but there's a lot to reach that point.
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