Should Christians Buy GameStop Stock?

Quick to Listen

Christianity Today

Religion, Christianity, Religion & Spirituality

4.3 • 622 Ratings

🗓️ 3 February 2021

⏱️ 66 minutes

🔗️ Recording | iTunes | RSS

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Summary

Transcribed highlights of the show can be found in our episode summaries. The last time you heard about GameStop was when you went to the mall to buy video games as a teenager or for your ex-teenager who now has their own teenager. But last week, the brick-and-mortar gaming company was in the news as GameStop prices went thru the roof. This Monday they opened at $315. For reference, as recently as Jan 12, the stock was $19.95. Why? In recent months, members of the Reddit community, Wall Street Bets, have begun encouraging each other to buy up stock of the company, efforts which began in earnest after several hedge funds announced that they would be betting against the antiquated electronics franchise. One of the first storylines to emerge from this was one that pitted the upstart nerds against the greedy hedge funds. But...like most things, the reality is a bit more complicated .Wheaton College assistant professor of economics Enoch Hill joined global media manager Morgan Lee and editorial director Ted Olsen to break down the craziness on Wall Street and offer some deeper takeaways for those trying to navigate their market and their faith in 2021. What is Quick to Listen? Read more Rate Quick to Listen on Apple Podcasts Follow the podcast on Twitter Follow our hosts on Twitter: Morgan Lee and Ted Olsen Music by Sweeps Quick to Listen is produced by Morgan Lee and Matt Linder The transcript is edited by Yvonne Su and Bunmi Ishola Learn more about your ad choices. Visit podcastchoices.com/adchoices

Transcript

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0:00.0	This episode is brought to you in part by The Apologetics Guy Show, the podcast that helps you find clear answers to tough questions about Christianity.
0:11.1	Learn to explain your faith with courage and compassion. Join Moody Bible Institute professor Dr. Mikhail del Rosario at apologeticsky.com.
0:22.3	The last time you heard about GameStop was when you went to the mall to buy video games as a teenager,
0:27.5	or for your ex-teenager who now has their own teenager.
0:32.1	But last week, the Brick and Mortar Gaming Company was in the news as GameStop prices went through the roof.
0:38.7	This past week on Monday, they opened at $315.
0:42.5	And for reference, as recently as January 12th, the stock was at 1995.
0:49.5	So why is this?
0:50.9	In recent months, members of the Reddit community, Wall Street bets, have begun
0:55.1	encouraging each other to buy up stock of the company efforts, which began in earnest after
1:00.0	several hedge funds announced that they would be betting against the antiquated electronics
1:03.9	franchise. For those not familiar with the mechanics of short selling, we'll get deeper into
1:09.6	this later on the show. One of the first
1:12.3	storylines to emerge from this was one that pitted the upstart nerds against the greedy hedge
1:16.6	funds, but like most things, the reality is a bit more complicated. We wanted to break down
1:22.5	the craziness on Wall Street and also offer some deeper takeaways for those trying to
1:26.5	navigate the market and their faith in 2021.
1:32.6	You are listening to Quick to Listen, where we go beyond hashtags and hot takes to discuss a major cultural event.
1:40.1	I'm Morgan Lee, Global Media Manager at Christianity Today.
1:43.3	And I'm Ted Olson. I'm editorial director at Christianity Today.
1:57.3	All right. This is such a crazy story, Ted. I am really looking forward to your gut check and hearing how you have been making sense of the madness.
2:05.7	Morgan, I am a magazine editor, which means that I do not get to play in this stock market world a whole lot.
	...

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