Be careful what you wish for, even $BLIAQ is making a 9 cent jump today.
BB Liquidating Inc. is in the process of liquidation of its remaining assets. Previously, it was operated and franchised entertainment-related stores in the United States and internationally.
The company was formerly known as Blockbuster Inc. and changed its name to BB Liquidating Inc. in August 2011. BB Liquidating Inc. was founded in 1982 and is based in Dallas, Texas. On July 16, 2013, the voluntary petition of BB Liquidating Inc. for reorganization under Chapter 11 was converted to Chapter 7. It had filed for Chapter 11 bankruptcy on September 23, 2010. BB Liquidating Inc. operates as a subsidiary of DISH Network Corporation.
Millennial Movement Gains Steam
Even as ‘digital transformation’ makes BigTech stronger than ever, the Millennial investor who is inheriting Boomer money has its own ideas about what stocks are worthy.
Call it nostalgia, call it being retro. The Wallstreetbets movement might turn into something else.
Blockbuster stock up 774% this morning https://t.co/ExnZbfl3f6
— Tom Gara (@tomgara) January 27, 2021
So in this retro trend, $BLIAQ is up 170% today and it could go higher if this takes off. Certainly it’s sure to attract some bears.
If this revenge of the stonks story keeps going, the variety of volatility will be of the crowd and the SEC might even have to step in. However for now, this is a very attractive gambling position. Don’t underestimate the Millennial crowd investor.
Robinhood didn’t just gamify investing, they created a movement (with WeBull). Some of these young investors will make serious money. The problem? Well just a few things like herd mentality, confirmation bias, gambler’s fallacy and loss aversion. But hey a trend like this can’t just be undone, it is a movement.
For that reason this is an attractive position for a few hours and or days. The gamification of trading multiplied by social media amplification compounded by Fed stimulus is really quite an extraordinary set or circumstances. The key behavioral economics trend however is something deeply embedded in human nature, herd mentality greed.
If it doesn’t go straight up, it’s not a stonk. The game never ends, the retro stonks are real.