GameStop and diminishing returns
The GameStop hedge-fund saga continued today with a massive drop in value for the GME stock, below $90 per share by the end of the day against yesterday’s close of $225. A lot of tendies got eaten today, but if you believe the subredditors, the decline was engineered by Big Money, and should rebound tomorrow.
If you believe.
But GameStop still has an outdates business model — people are buying games directly over their consoles now, which dries up retail sales and the used-game pipeline, a market that GameStop had practically owned.
But hey: What do I know? I missed the boat on GME and instead bought a single share of BlackBerry, over which I’ve already lost about five bucks.
In the Triad, we’ve got questions about the vaccine, and questions about the Republican Party. And the governor wants kids to go back to school, which sounds to me like a terrible idea, only slightly better than the alternative.
Frankly, I’m sick of thinking about all this controversy — and just a week before the impeachment! The numbers are much easier to understand.
The numbers
- Four days of downward trajectory! Just 2,926 today, making 764,228 with 9,409 deaths (+67).
- Hospitalizations down for a week straight: 2,741
- 10.2 positive test rate, up, but on a low number of tests.
- Guilford County surges with 564 new cases, 33,747 total, 391 deaths. The dashboard gives 5,637 as both the number of recoveries and the number of current cases, which is improbable.
- Forsyth has 88 new today for 28,001, 281 deaths (+1). And some very old data in the dashboard fields.
A diversion
Black History Month, so let’s watch some Miles Davis in concert from 1964, with Herbie Hancock on piano and the great Wayne Shorter on sax. Black excellence.
Program notes
- “Woman with a mask (one of a set)” is by an unknown French painter some time during the last quarter of the 18th Century. What more do you need to know? Thanks to the Metropolitan Museum of Art’s public-domain collection.
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