Why BlackBerry, GameStop, and Kodak Stocks Got Destroyed This Week

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Why BlackBerry, GameStop, and Kodak Stocks Got Destroyed This Week

Motley Fool2021-07-16

What happened It's been a bad week for "meme stock" investors so far, aspredictions of doommounted for stocks with bad business prospects and no profits to fall back on. Meme stocks' bad news actually...

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JAWong
·2021-07-18
I totally agree...
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1
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- ohmytiannn:
  gg
  2021-07-22
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JLSE
·2021-07-16
[流淚] [流淚] [流淚]
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2
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Zuhaili
·2021-07-16
[微笑]
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1
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MonaMaMa
·2021-07-16
Everything move in cycle.After the down cycle, the meme will come back If BB becamea classify as software providing security, it will be to the moonLikewise, any corporate action On GameStop will drive it to the moonLook for the signal
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6
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Rookie22
·2021-07-16
? ✋????
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3
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owlbelly
·2021-07-16
Pls like and comment. Thanks!
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4
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- Godddy:
  k
  2021-07-16
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- fezalAzid11:
  k
  2021-07-16
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abp
·2021-07-16
Pls like and comment
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6
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- Lauuu:
  Liked
  2021-07-16
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- owlbelly:
  Done
  2021-07-16
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abp
·2021-07-16
Pls like and comment
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2
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Loola
·2021-07-16
ok
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3
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Andyhym75
·2021-07-16
Stay away from the meme!!
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MoneyLaiLai
·2021-07-16
Got destroyed?? You mean those HF got destroyed right you fool ? ??
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StarGate
·2021-07-16
Live for the moment...what's next? Unless you can create the needs else it won't go further
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- CHanzhong:
  agreed
  2021-07-16
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Slowmopi
·2021-07-16
Ok
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WannaBluffy
·2021-07-16
BB ?
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- itsXD:
  Fly
  2021-07-16
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Seaside
·2021-07-16
Good
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clarencejy
·2021-07-16
Like this
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- YewKhoon:
  Done
  2021-07-16
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LWayne
·2021-07-16
Already said... Meme! What can you expect?
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- QQ23:
  Good
  2021-07-16
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- YPT:
  Right
  2021-07-16
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- matcha_latte:
  wow
  2021-07-16
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小虎爱大米
·2021-07-16
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In the second quarter, warned the banker, trading volumes at retail brokerages showed as much as a 30% sequential decline in meme stock buying. And of course, it's hard to create a short squeeze without buyers.\nResult: Meme stocks took a tumble, with Eastman Kodak(NYSE:KODK)closing Thursday down 8.5% from Friday's close,BlackBerry Limited(NYSE:BB)losing 10.4%, and GameStop(NYSE:GME)crashing to a 12.8% loss.\nSo what\nOnly in one instance was there actual news to explain the declines. In fact, more than half of GameStop's losses for the week came on just one trading day -- Wednesday -- when Bloomberg reported that Netflix is eying an entryinto the video game space, in which it will de facto compete with GameStop.\nAs for the other companies, though -- and as for meme stocks in general--it's primarily a shift in sentiment against the companies that's weighing on their stock prices. Following up on Goldman's negative take, Franklin Resources CEO Jenny Johnson chimed in on Wednesday with a warning that traders \"could lose everything\" if they persist in buying meme stocks.\nNow what\nAttractive as it might be to think you're \"sticking it to the man\" on Wall Street by buying stocks that \"hedge funds\" are shorting, the simple truth is that neither BlackBerry nor Kodak has earned any profit whatsoever since 2019 -- and GameStop hasn't earned a profit since 2018.\n\"I never like investing where there isn't fundamentals behind it,\" Johnson told Yahoo! Finance Wednesday. While it's certainly true that a lucky few traders could make -- indeed, have made -- money trying to time the market on meme stocks, there's no underlying value to the companies behind the stock tickers -- no profits. That means, the moment sentiment turns against them, there's literally nothing left to prop up the stock price.\nJohnson just thinks that's a bad way to invest, andI cannot disagree.","kind":null,"is_publish_news":false,"is_publish_highlight":true,"is_publish_live":null,"is_publish_wemedia":null,"editions":null,"column":"","sentiment":"","news_tag":"","news_rank":0,"symbols":[],"gpt_button":1},"commentList":[{"id":173967377,"gmtCreate":1626602671099,"gmtModify":1703762240938,"author":{"id":"3585608428233531","authorId":"3585608428233531","name":"JAWong","avatar":"https://static.tigerbbs.com/fe1b000a4e7d027e9f7a6e9be43ce30d","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"I totally agree...","listText":"I totally agree...","text":"I totally agree...","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":1,"repostSize":0,"link":"https://ttm.financial/post/173967377","repostId":1130012448,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5290044,"gmtCreate":1626922993275,"gmtModify":1663231303328,"authorId":3585864277547316,"author":{"id":3585864277547316,"authorId":3585864277547316,"name":"ohmytiannn","avatar":"https://static.tigerbbs.com/51875031030c53b01a1c3bbcbf6159ef","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":173967377,"type":1,"supId":0,"prevId":0,"content":"<u>gg</u>","text":"<u>gg</u>","html":"<u>gg</u>"}],"langContent":"EN"},{"id":170275361,"gmtCreate":1626439854953,"gmtModify":1703760184034,"author":{"id":"4089028522442560","authorId":"4089028522442560","name":"JLSE","avatar":"https://static.tigerbbs.com/b2e0c693d513ad9276d36f34b54134c2","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"[流淚]&nbsp;[流淚]&nbsp;[流淚]&nbsp;","listText":"[流淚]&nbsp;[流淚]&nbsp;[流淚]&nbsp;","text":"[流淚] [流淚] [流淚]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/170275361","repostId":1130012448,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":170266758,"gmtCreate":1626436986374,"gmtModify":1703760124486,"author":{"id":"4087295986387850","authorId":"4087295986387850","name":"Zuhaili","avatar":"https://static.tigerbbs.com/8cc35fe9ab52f85ed73430ab4382a6bb","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"[微笑]&nbsp;","listText":"[微笑]&nbsp;","text":"[微笑]","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":1,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/170266758","repostId":1130012448,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"CN"},{"id":170263698,"gmtCreate":1626436739214,"gmtModify":1703760120092,"author":{"id":"3574563425538377","authorId":"3574563425538377","name":"MonaMaMa","avatar":"https://static.tigerbbs.com/a0368c85249a7a2f30679720235bb7a7","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Everything move in cycle.After the down cycle, the meme will come back&nbsp;If BB becamea classify as software providing security, it will be to the moonLikewise, any corporate action On GameStop will drive it to the moonLook for the signal","listText":"Everything move in cycle.After the down cycle, the meme will come back&nbsp;If BB becamea classify as software providing security, it will be to the moonLikewise, any corporate action On GameStop will drive it to the moonLook for the signal","text":"Everything move in cycle.After the down cycle, the meme will come back If BB becamea classify as software providing security, it will be to the moonLikewise, any corporate action On GameStop will drive it to the moonLook for the signal","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/170263698","repostId":1130012448,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":170239675,"gmtCreate":1626433917797,"gmtModify":1703760077573,"author":{"id":"3575290973507485","authorId":"3575290973507485","name":"Rookie22","avatar":"https://static.tigerbbs.com/c6852efd5f87d9ecf7965e213c38ac97","vip":1,"hat":"https://static.tigerbbs.com/b0a2963eb37c60c5d6d4a8dbcd266952","crmLevel":3,"crmLevelSwitch":1},"htmlText":"? ✋????","listText":"? ✋????","text":"? ✋????","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/170239675","repostId":1130012448,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":170298409,"gmtCreate":1626433407901,"gmtModify":1703760068029,"author":{"id":"3581807973134008","authorId":"3581807973134008","name":"owlbelly","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Pls like and comment. Thanks!","listText":"Pls like and comment. Thanks!","text":"Pls like and comment. Thanks!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":4,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/170298409","repostId":1130012448,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5239209,"gmtCreate":1626433470895,"gmtModify":1663231057325,"authorId":3586414813423464,"author":{"id":3586414813423464,"authorId":3586414813423464,"name":"Godddy","avatar":"https://static.tigerbbs.com/31cc8b9a10f9eb58e8842318945f46ae","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":170298409,"type":1,"supId":0,"prevId":0,"content":"<u>k</u>","text":"<u>k</u>","html":"<u>k</u>"},{"id":5239300,"gmtCreate":1626434278696,"gmtModify":1631891564379,"authorId":3577877162813767,"author":{"id":3577877162813767,"authorId":3577877162813767,"name":"fezalAzid11","avatar":"https://static.tigerbbs.com/073540646d4db4b437c4e2075aff4fce","vip":1,"crmLevel":1,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":170298409,"type":1,"supId":0,"prevId":0,"content":"k","text":"k","html":"k"}],"langContent":"EN"},{"id":170290583,"gmtCreate":1626433035542,"gmtModify":1703760061330,"author":{"id":"3581979721991802","authorId":"3581979721991802","name":"abp","avatar":"https://static.tigerbbs.com/f0c0424f61209387c56148e921c507f1","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Pls like and comment","listText":"Pls like and comment","text":"Pls like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":6,"commentSize":2,"repostSize":0,"link":"https://ttm.financial/post/170290583","repostId":1130012448,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"comments":[{"id":5239185,"gmtCreate":1626433319313,"gmtModify":1663231060729,"authorId":3576024520094293,"author":{"id":3576024520094293,"authorId":3576024520094293,"name":"Lauuu","avatar":"https://static.tigerbbs.com/02c1a1e93d0024ed67162afaf9bd827e","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":170290583,"type":1,"supId":0,"prevId":0,"content":"Liked","text":"Liked","html":"Liked"},{"id":5239205,"gmtCreate":1626433421604,"gmtModify":1663231057243,"authorId":3581807973134008,"author":{"id":3581807973134008,"authorId":3581807973134008,"name":"owlbelly","avatar":"https://static.laohu8.com/default-avatar.jpg","vip":1,"crmLevel":2,"crmLevelSwitch":0,"individualDisplayBadges":[]},"repliedAuthorId":0,"objectId":170290583,"type":1,"supId":5239185,"prevId":0,"content":"Done","text":"Done","html":"Done"}],"langContent":"EN"},{"id":170290655,"gmtCreate":1626433021477,"gmtModify":1703760061005,"author":{"id":"3581979721991802","authorId":"3581979721991802","name":"abp","avatar":"https://static.tigerbbs.com/f0c0424f61209387c56148e921c507f1","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Pls like and comment","listText":"Pls like and comment","text":"Pls like and comment","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":2,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/170290655","repostId":1130012448,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":170207117,"gmtCreate":1626432908539,"gmtModify":1703760059529,"author":{"id":"3577872621107081","authorId":"3577872621107081","name":"Loola","avatar":"https://static.tigerbbs.com/64940dfb0e60ec6f7fff49d64ddfc53a","vip":1,"crmLevel":3,"crmLevelSwitch":0},"htmlText":"ok","listText":"ok","text":"ok","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/170207117","repostId":1130012448,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":170205102,"gmtCreate":1626432746306,"gmtModify":1703760055933,"author":{"id":"3579777838363427","authorId":"3579777838363427","name":"Andyhym75","avatar":"https://static.tigerbbs.com/f6fda6adf920ce707a68563102b58b90","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Stay away from the meme!!","listText":"Stay away from the meme!!","text":"Stay away from the meme!!","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/170205102","repostId":1130012448,"repostType":4,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":170674225,"gmtCreate":1626431759667,"gmtModify":1703760043469,"author":{"id":"3575535478532281","authorId":"3575535478532281","name":"MoneyLaiLai","avatar":"https://static.tigerbbs.com/639a3b03c57fa8d7cf603a5133568706","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Got destroyed?? You mean those HF got destroyed right you fool ? ??","listText":"Got destroyed?? You mean those HF got destroyed right you fool ? ??","text":"Got destroyed?? You mean those HF got destroyed right you fool ? ??","images":[],"top":1,"highlighted":1,"essential":1,"paper":1,"likeSize":3,"commentSize":0,"repostSize":0,"link":"https://ttm.financial/post/170674225","repostId":1130012448,"repostType":2,"isVote":1,"likeStatus":false,"favoriteStatus":false,"reportStatus":false,"tweetType":1,"langContent":"EN"},{"id":170647665,"gmtCreate":1626430705757,"gmtModify":1703760029351,"author":{"id":"3586990023332519","authorId":"3586990023332519","name":"StarGate","avatar":"https://static.tigerbbs.com/9db084b2eae373a6cc56043329defb07","vip":1,"crmLevel":2,"crmLevelSwitch":0},"htmlText":"Live for the moment...what's next? Unless you can create the needs else it won't go further&nbsp;","listText":"Live for the moment...what's next? Unless you can create the needs else it won't go further&nbsp;","text":"Live for the moment...what's next? Unless you can create the needs else it won't go 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