Everything we know about the Super Bowl so far. Plus, the Subway tuna suit—and Game(Stop) over?: Friday Wake-Up Call
Welcome to Ad Age’s Wake-Up Call, our daily roundup of advertising, marketing, media and digital news. If you’re reading this online or in a forwarded email, here’s the link to sign up for our Wake-Up Call newsletters. Game on...
Welcome to Ad Age’s Wake-Up Call, our daily roundup of advertising, marketing, media and digital news. If you’re reading this online or in a forwarded email, here’s the link to sign up for our Wake-Up Call newsletters.
The epic GameStop drama we discussed in the previous edition of Wake-Up Call continues to fascinate. On Thursday, as GameStop’s stock continued its rollercoaster ride—shedding 44% of its value from Wednesday following a massive, frenzied, logic-free rally driven by retail investors who spend way too much time on Reddit’s WallStreetBets subreddit—a fun-while-it-lasted reckoning began to set in. Thursday afternoon, USA Today published a guest post by Nancy Tengler, chief investment officer at Laffer Tengler Investments, headlined “You want a revolution, Redditors? What’s your plan when GameStop collapses?” (Spoiler: They don’t really have a plan, which makes them somehow ... extra revolutionary, maybe?)
The best line in Tengler’s piece comes right at the end: “There is some wisdom in the old saying: Pigs get fat, hogs get slaughtered.”
See also: “Trading app Robinhood faces backlash after placing restrictions on Reddit-fueled stocks,” per Ad Age’s Ilyse Liffreing.
What’s next: “Senate Panel to Hold Hearing Amid GameStop Frenzy, Brown Says,” per Bloomberg News. The Brown in that headline is Senator Sherrod Brown, the incoming chairman of the United States Senate Committee on Banking, Housing, and Urban Affairs.
Because of course: “Here Are the 50 Funniest Memes About GameStop and Reddit Trolling the Stock Market,” from BuzzFeed.