Hedge Fund Looses 25B- But what I’m going to tell you is GameStop in Wall Street.
You know what got crazy bastard a lot of money over the years at GameStop?
Well, not in this. Like, we’re totally out on currently what’s going on, but so it’s a real thing. And we want to bring it up for you here, agents, is so that you have an understanding of external market forces that are affecting a market right now. So there’s some stuff going on on Wall Street. And there’s a company, a local company, actually, I believe they’re on a great buying. GameStop is is located pretty close to us.
They have like a ton of locations, a lot more than you would probably realize. I can’t remember exactly how many. I’m sure we could look that up. But GameStop anyways, seem to have been a company that was on life support in their stock, was like trading in this several dollar. Right, right. Yeah. People are like just downloading on the Internet. There is things like, why is this really going on still? There was a time when it had its heyday. Blockbuster had its heyday, so did attracts. There’s a lot of things that had its heyday and GameStop seems to have passed that. Mm hmm. However, there was this one, one gentleman who went out and put a big bet on GameStop to go down because they thought that the price that it had got, too, was too high. So then he put a bet against it on the downside.
And and then what happened is that it went up. Yeah, and it went up because people got passionate behind it. Let’s go ahead and take a look and I have an article for you, so I will it to yeah. This hedge fund puts tons of money. They go online and they’re like an against it. I’m going to short it and then the stock what happens is people get behind it and read it. So this is an industry phenomenon that was happening. And all of these, you know, younger investors said, we love GameStop. This is important to us. We don’t want GameStop to go down. Don’t be a mean Wall Street guy. And what they essentially did is they bought stock in GameStop, which in theory is irrational, specifically at the prices at this.
Is that because the stock is nowhere near worth this level? Right. So there’s a gentleman who kind of orchestrated this and we’ll put him up. Here he is Roaring Kittie on YouTube. So let’s link over to this cat because he has a bunch of Yahtzee. Do you see? I said, cat, you got that? He’s kitty kitty kidding. All right. So we link over to him here and we’ll tell him we’re talking about that. But he had a certain amount of followers previously.
He’s got a great animation there. That’s amazing. Makes me kind of be like, wow, what the hell is going on here? So anyways, this guy said GameStop. And here’s what’s up. Let’s prop this up. So him and Elon Musk, Papa Musk got I got involved and he chatted on this and he said, you know, it was a real thing and all these people got passionate about it. And I don’t know if it’s logical investing or just hating and wanting to, like, stick it to the man, so to speak, or the woman. I don’t know what it is, but that there are people who are unhappy with the way things currently are in this country.
And they feel by buying game stock, stock one share that helps them. And OK, so now we’ve heard it. Now we’ll see what happens to go on and raise money to see how it can be manipulated, sort of, and have that happen. So if you own any game stock, stock, sell it now, specifically if you’re the CEO. So this cat had a ton of stock in the game stock GameStop CEO and his ownership has just skyrocketed in value because it was like a couple dollar stock for a long, long time. And then, bam, it’s way up there and it’s held on and propped up right now because people went in, bought single shares and it was a big deal.
They ended up stopping all the action, all the trading that was going on related to this. They shut down the app. It got like super crazy and very irrational, but very rational for the people on on the GameStop side. Yeah, right. So they’re all buying single shares and they have this kind of saying, right. You have to have like a slogan. So they have this saying of diamond hands that they are buying and holding on to the stock and they are not selling it. And in theory, if they never sell it then and they keep buying it, then they could potentially prop this company up, but then it would actually make no money because it’s a super weird thing. Anyways, this is far beyond what I know is going on, but it’s irrational.
Some of these other things that you see here can relate back to real estate. Do you have any ideas on how this can relate to real estate? No, but I can’t wait for you to tell us. I don’t know. I’m going to have to do some real gymnastics on this one here because I hadn’t thought about it either. But this is a phenomenon that happened immediately and quickly.
I think in real estate, if there’s things going on in our industry that we don’t like, if you get everybody involved that is upset with it and we all, you know, kind of go at it together, you can probably get something to happen.
So maybe you need a message. You need Hello Kitty. Was that his name to talk to Kitty or we need him to talk on something real estate related about like coming homes or I don’t know what you need. What’s the topic commission to do that? I don’t know. Elon Musk, Mike Shepherd.
We need Shepherd to know you are the bad ass. Can you please tweet?
I know. So what you saw is that social media affected this social media, maybe potentially affected the presidential election. People would say a couple of years ago, one cycle ago, maybe it affected it this cycle as well, with some people saying that you how people were censored, I don’t know.
And it affected Popeye’s Chicken this year or last year. That’s a really good example.
They the chicken sandwich. And still today, if you drive by a Popeye’s Chicken, there’s long lines like what’s that bakery there, Dave Dave’s talked about in California.
Oh, they had they had one hundred thousand people online at one moment to buy their beer when they release it once a year. Yeah. And they only had two thousand cases to sell. Hundred thousand cases. It’s crazy. So these are phenomenon’s. Right. And they have effects on the market.
So going back to real estate, this specific phenomenon probably will not occur because what they were essentially doing is short selling. Yeah. So when you short sell, you don’t actually own the stock. And it’s a weird thing, so you’re selling your selling, you’re buying, you’re selling stock that you don’t own, but you have to buy it at a guaranteed. So anyways, don’t worry about it because you can’t do that to your house.
So that’s the way that I tie it together, is can’t happen to your individual short, sell your house. Yes, but I can’t go in and buy your house in somebody else’s house and say, I think it’s worth this amount in the future and have a market for that good. Well, anyways, that was that topic. And there’s a lot going on in this world. A lot, a lot in a lot of tension, but what it comes down to is people feel passionate about their specific stances, right? They didn’t. So the same phenomenon, I believe, is happening in other stocks. Yes.
So those other stocks that might be affected as well are like I think Nokia is one of them that they’re holding on to. And there’s a couple others that they felt passionate about. Yeah, I think there’s some major companies that they were like, no, but there were things that people felt nostalgic about. Right. And that they have to be able to say it to anybody. Did you have one? I did.
Really, I yeah, I did. I think I had a pager.
All right, Chad. And now if you had a pager and if you still do. I did. Better yet, Chad, very short time, OK, but yeah, did you drug dealer? No, it seemed like the only people that had him were doctors and drug dealers. And me and Sean, apparently. I’m not sure, chat and if you still have a landline, we were at somebody’s house the other day and her phone was ringing nonstop.
That and then they go, yeah, that’s a telemarketer. Yeah. Who is a landline?
You should hold on to that landline or pager.
Let’s let’s hear it. Oh, my word. And if you still have your phone connected and with volume on and people still call it. Ladies and gentlemen, it’s an amazing flying Friday hit the button and the topic of the state in there’s a routine.