Quick Bites

Meme Stock Disaster – Why Bed Bath & Beyond Went Wrong by Agne Vaitkeviciute

What’s the story?, On August 17th, the share price of Bed Bath & Beyond (BBBY) suddenly fell by more than 50% after a short period of intense rallying. Why is it interesting?, The rapid rise and fall of the stock coincided with financial influencer Ryan Cohen’s complete sale of his 11.8% share in BBBY on the day of the crash. So what?, Meme stocks are not going away anytime soon. Financial insecurity, amplified by the current economic climate, has generated an increased appetite for risk among young investors.

Will Facebook’s rebranding stop the Meta…Curse? by Yenli Nguyen

In What’s the story?, Facebook is to announce its plans to shift from being a social media company to becoming a Metaverse company. In Why is it interesting?, CEO Mark Zuckerberg thinks the Metaverse is an inevitable ‘reality,’ which means it could become YOUR reality. In So what?, The Metaverse is an immense opportunity for cultural change.

Memes and avatars: What’s the tea on NFTs?

In What’s the story?, The original image of the “Side-eying Chloe” meme was sold at auction as a “non-fungible token” (NFT) for £54,000. Bids kicked off at 5 Ether, the equivalent of £11,000 and it was bought by 3F Music.. In Why is it interesting?, While a fungible item can be swapped with another similar item for the same value, NFTs are non-interchangeable and are a form of digital ownership verified on a digital ledger known as the blockchain. In So what?, The increase of NFTs’ popularity alongside its inflated value may eventually attract regulatory crackdowns.