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We’re halfway through 2022 and already it’s been a year of strange things. As we navigated a global pandemic, investing was strange enough. But it’s been getting even weirder as the world tries to find its new ‘normal’. 😵
And strange things are happening. Like the value of ‘conservative’ KiwiSaver funds appearing to go backwards faster than ‘growth’ focused funds as interest rates rise. Or like big retailers suddenly being stuck with waaayyyy too much stuff. Since we’ve flown from our pandemic nests, Walmart (WMT) and Target (TGT) have been left with ‘billions of dollars’ of excess inventory like air fryers, toasters and bedding. Or like the entire bizarreness of Elon Musk’s ongoing takeover tussle with Twitter (TWTR). Pass the popcorn. 🍿
Strange things are happening at Netflix (NFLX), too. The company has been bleeding subscribers since we swapped TV for the hi def resolution of the real-world. Now they’re spending an estimated US$30 million per episode on their fourth season of freaky teen sci-fi, Stranger Things, to try and win ’em back. The show has catapulted boomer icon Kate Bush’s ‘80s synth vibe ‘Running up that hill’ to the top of the charts again after almost 40 years. 🎹 Also the last time anyone saw inflation this freakishly high… coincidence?
Maybe the strangest of all has been the blockbuster surge in shares of DVD vending machine company Redbox Entertainment. 💿 In what could be ‘the “dumbest” meme stock yet’, shares in Redbox Entertainment were recently trading hands for around US$12 each. Nothing wrong with that, except for the fact the company has agreed to be taken over by streaming company Chicken Soup For The Soul (CSSE) (yes, really!) for about US$0.69 per share in stock. That means that an investor buying one share of Redbox for $12, would receive the equivalent of just US$0.69 if the deal closes. Sometimes truth really is stranger than fiction. 🍗
We’re not financial advisors and Hatch news is for your information only. However dazzling our writing, none of it is a recommendation to invest in any of the companies or funds mentioned. If you want support before making any investment decisions, consider seeking financial advice from a licensed provider. We’ve done our best to ensure all information is current when we pushed ‘publish’ on this article. And of course, with investing, your money isn’t guaranteed to grow and there’s always a risk you might lose money.
