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GameStop Stock Explained For Dummies in 10 Minutes
Tesla, Bitcoin, and now GME? What the heck was going on for the past 6 months? The stock market has been going up and down like a roller coaster. When you turn on your news, these three magic letters seem to always pop up these days
So what is GME? What is this frenzy all about? In this video, I want to give you my version of this GME saga. i will do a GameStop Stock Explained For Dummies in 10 Minutes
For those of you who have been following the financial news, you should have seen these keywords in the headlines a lot lately – GME, Robinhood, Reddit, wallstreetbets, short selling, short squeezing, etc. The story of GME in recent weeks has been one of the most fascinating stories in 2021 so far, it’s basically the Avengers vs Thanos, David vs Goliath.
Disclaimer here though, I am just trying to summarize this story in a simplified version, so it might not reflect the entire story, and some of the information might be missing or not completely accurate as this story continues to unfold.
Whether you are already in or plan to join the game, please do not make any investment decisions based on this video. You should do your own research before you make any investment!
And Before we dive into the story deeper, let’s just briefly talk about GME first. GME, or Game Stop Corporation, is an American video game, consumer electronics, and gaming merchandise retailer based in Texas.
Back in the old days when we use to go to the shopping malls and physical stores for everything, it was basically where all the gamers would go to get their video games, similar to our EB Games in Canada.
And Just like lots of retail stores moving online,
video games are slowly shifted to online storefronts. To no one’s surprise, GME’s sales started to decline and so did their stock price.
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In the past 10 years, Thomas C Chan been focus on helping Canadians to develop for their financial success, with advice about investments and insurance, such as life insurance, critical illness insurance, and disability insurance.
Whether you want to know more about tax saving, retirement planning, or financial growth, Thomas can bring clarity on your retirement, wealth, and insurance. He understands the life stages and challenges that people are going through.
In Canada, you have many options for savings and investment vehicles, such as the RRSP and TFSA. To figure out how to take advantage of your options, Thomas can help you figure out what best suits YOUR financial needs. If you are interested in learning about how money works, and how to work with money, check out his videos!
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