James Mackintosh
speaker
379 appearances
7 recordings
1 series
first heard Nov 2017
last heard Nov 2024
James Mackintosh’s voice in public audio — every appearance, attributed to the second.
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Appearances
Well, the GameStop situation started out with a genuine improvement.
This is what many people thought was a doomed retailer.
It has the oldest business model you could have, the most out-of-date business model you could have.
selling computer games out of physical shops.
This is a business that's primarily moving online.
People download their games.
They don't go to the mall to buy them.
So the stock had, naturally enough, been beaten right down by this summer.
But then a guy with some serious experience, the guy behind Chewy, which is an online pet food retailer, he had sold that, had a ton of money and he bought in and started pushing for change.
So there was a genuine reason for the stock to be better off because at least it now has some prospects.
So that was the trigger for what started things going and the price started rising from August.
Plus on top of that, of course, things have looked up in the economy since then, which also helped.
Now, all of that justified some rise in the price.
It didn't even begin to justify what actually happened in the price.
And that's down to Reddit, the group WallStreetBets, which leapt on it, leapt on the stock, a mix of things.
Again, it started out with the genuine
the genuine improvement.
Some people there were arguing that the stock's worth a lot more because things are looking better.
But they were also, quite rightly, pointing out that there's a short position in the stock of more than all the stock outstanding.
And that means if they could get enough people to come in and buy, they could get an explosive rise in the price, what's known as a short squeeze.
Showing 81–100 of 379 · page 5 of 19
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