Bonus: GameStop Stock Surge Explained
Jill on Money with Jill Schlesinger
Audacy
4.6 • 1.9K Ratings
🗓️ 28 January 2021
⏱️ 13 minutes
🧾️ Download transcript
Summary
How is GameStop's skyrocketing stock and a subreddit connected? Here’s my appearance on KMOX radio in St. Louis about how the internet took on Wall Street and why none of this is about video games at all.
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"Jill on Money" theme music is by Joel Goodman, www.joelgoodman.com.
Transcript
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| 0:00.0 | Welcome to the Jill on Money Podcast. It is Thursday, February 28th and we're dropping an |
| 0:10.0 | extra bonus episode. Why? You may have heard that the company Game Stop, you know, that |
| 0:16.8 | retailer that you probably assumed was already out of business was in the news in a big way. Here's what is going on. Game Stop just experienced in one day a 135% |
| 0:30.7 | increase and no it's not being taken over and in fact if you look at this company |
| 0:36.8 | over the last one year it's up almost 7,000% Why does that happen? |
| 0:43.4 | Because something weird is going on in the marketplace. |
| 0:47.1 | And I'm lucky because I do a lot of interviews all day long |
| 0:50.4 | and this was with one of my favorite anchors out in St. Louis, Mark Reardon on KMOX radio and I think we kind of hit the big picture look at what happened and why GameStop is in the news. |
| 1:05.0 | You're going to read about this in the next couple of days. |
| 1:07.5 | Don't go chasing after it, but just know that there is a lot to take in around short selling and short squeezes and you're |
| 1:18.2 | going to hear about it with AMC, you're going to hear about it with other companies, |
| 1:22.4 | you're going to know what it's all about. |
| 1:24.4 | You can explain it to your friends over the weekend. |
| 1:26.7 | So here is my interview with Mark Reardon about Game Stop. |
| 1:31.2 | I love this story about GameStop and Michael Burry and |
| 1:35.1 | everything that's going on but here's the deal. I don't understand one lick of |
| 1:38.9 | it so that's why I go to you Jill. I honestly got it these are the types of things that make my brain hurt and I have no idea what's going on but it seems kind of fun cool |
| 1:46.8 | dangerous all of these things at the same time okay why do we care about this let's start You know, honestly, a bunch of rich guys losing money is not actually that interesting. |
| 1:56.4 | But the kernel of it that's quite interesting is that it appears that smaller investors kind of push this to happen. |
| 2:05.1 | Here's what goes on normally in the marketplace. |
| 2:08.6 | There are people who just buy stock and you know they plop, you know, |
| 2:11.8 | again through a mutual fund that's one thing but these |
... |
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