The Best One Yet 🔥 “FyreFestCoin” — Squid Game’s crypto plunge. Under Armour’s surge. Zillow ends iBuying.
Nov 3, 2021
A cryptocurrency inspired by Squid Game experienced a wild rise and fall, reflecting the chaos and scams in the industry. Under Armour made a stunning stock comeback, shedding its bargain store reputation. In contrast, Zillow stumbled, struggling with its iBuying strategy, leading to a significant drop in stock value. The hosts explore the urgent need for cryptocurrency regulation amidst this financial frenzy, making for a lively discussion packed with insights into retail dynamics.
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SquidCoin Scam
- A new cryptocurrency called Squidcoin, based on the Netflix show Squid Game, surged 40,000% before plummeting.
- The developers cashed out with $3.3 million, leaving investors with worthless coins.
Crypto's Wild West
- Unlike the heavily regulated stock market, cryptocurrencies lack a clear regulatory authority.
- This lack of regulation allows scams like Squidcoin to thrive, highlighting the need for a "1934 moment" for crypto.
Under Armour's Pricing Power
- Under Armour's stock surged 14% not because of new products, but by raising prices and reducing discounts.
- This strategy, along with removing products from discount stores, helped erase the "bargain store blemish."