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CEOs are joking about GameStop, worrying it signals a bubble, and preparing for the next meme-inventory boom

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CEOs are joking about GameStop, worrying it signals a bubble, and preparing for the next meme-inventory boom

gamestop line

Reuters

Early Newspaper

  • CEOs are aloof chattering about GameStop and meme-inventory mania.
  • Some have joked about it, whereas others fear the frenzy is evidence of a bubble.
  • Here are the easiest feedback on earnings calls so far.
  • Visit Enterprise Insider’s homepage for more tales.

The GameStop saga is aloof sparking conversations across corporate America.

Executives continue to marvel at the surge in the video-game retailer’s market capitalization to over $30 billion at one point. They’re questioning whether mass speculation among amateur traders is a bubble about to burst. At least one is ready to cash in if the meme-inventory frenzy has a 2nd act.

Here are the easiest feedback from CEOs to date, drawn from earnings-call transcripts on Sentieo, a financial-research website. The quotes have been flippantly edited and condensed for clarity:

1. “We can lawful change our name to GameStop.” – Mark Costa, CEO of Eastman Chemical, when asked if he would bear in thoughts a SPAC spinoff to raise his company’s valuation.

2. “You have to pause and marvel, when GameStop is the most valuable company in the Russell 2000, that the world has certainly changed.” – Frank Gasior, CEO of BankFinancial.

3. “On GameStop and bitcoin, there are definitely bubbles out there.” – Scott Hartz, CIO of Manulife Financial Corporation.

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4. “GameStop required a very authentic place of circumstances where the asset had been oversold. It’s no longer so valuable a GameStop motion. It’s a authentic series of events that allow for a rapid squeeze.” – Muhamad Umar Swift, CEO of Bursa Malaysia Berhad.

5. “Need to you start searching at some of the alternative-energy shares, you start searching at some of the small speculative shares, what’s happened in the last several days with GameStop – there is an area that I mediate is overheated.” – Mark Stoeckle, CEO of Adams Various Equity Fund, highlighting bubbles in the market.

6. “The GameStop fever – we did search for Japanese retail possibilities trading these shares a lot as successfully. It dilapidated to be after we talk about Japanese retail possibilities procuring for a US equity, it’s Amazon, Apple, Microsoft, one thing savor that. But now they play around with the smaller shares as successfully. Before the global financial disaster and before the web bubble burst, we saw similar forms of phenomena.” – Oki Matsumoto, CEO of Monex.

7. “The other field is the GameStop thing that’s happening out there. We have a better really feel for what’s happening legal now, and I plan no longer search for a dot-com bust.” – David Farr, CEO of Emerson Electrical, comparing his present stage of challenge to his fears all thru the web bubble and after the 9/11 terrorist attacks.

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8. “The craziness in the market has very little impact on us, because we lawful plan no longer have any publicity to any of these forms of companies. The high-flying boom shares, the items that have caused the market to have these giant dislocations where you stare in amazement, we’re no longer in these. I want I may expose you that we owned some in advance, and we benefited from them.” – Richard Pzena, CEO of Pzena Funding Management, asked about Tesla, GameStop, and bitcoin.

9. “We did that deal legal at a time, where GameStop and AMC were destroying some hedge funds who acquired into a jam. It would no longer surprise me if some of them were in our inventory and had to raise capital and lawful sold our inventory.” – Ted Karkus, CEO of ProPhase Labs, discussing the downward stress on  his company’s inventory after it raised $37.5 million in a public inventory offering.

10. “I plan no longer mediate we anticipated the spike related to GameStop. It acquired us pondering and we said, ‘Hiya, it’s a suitable machine. We may as successfully have it back on the shelf.’ And so that’s why we renewed it.” – Thomas Hern, CEO of Macerich, explaining the procuring-mall owner renewed its at-the-market inventory offering after watching its share trace surge all thru the meme-inventory frenzy.

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CEOs are joking about GameStop, worrying it signals a bubble, and preparing for the next meme-inventory boom