The Dr Boyce Breakdown

I grew up hearing people tell me that hard work was the key to success.  I no longer believe that's true.  There are plenty of hard working people who are not very successful.  It's time to get the truth out right now.

Title:  How GameStop and the Short Squeeze made some fund managers super rich  Richard marshaal and Brian Gonick made $700 million dollars from investing in GameStop during the recent frenzy on Wall Street that occured thanks to the "Reddit Rebellion."  Their investment in GameStop earned the company a massive return, showing that not all Wall Street hedge funds lost in this battle.  Keywords:  stock market,gamestop stock,short squeeze,wallstreet bets,gamestop short squeeze,wall street bets,elon musk gamestop,gme stock analysis,gme stock news,gme stock,gamestop stock explained for dummies,gamestop stock prediction 2021,gamestop stock prediction,gamestop stock analysis,short squeeze gamestop,short squeeze stocks,short squeeze amc

With Jeff Bezos leaving Amazon, what does this say about the powerful company?  In this conversation, I break down Bezos' departure from Amazon and what implications this should have for the price of Amazon stock. 

It turns out that Michael Jordan has a very direct connection to the massive financial losses incurred to hedge fund Melvin Capital as a result of the "Reddit Rebellion."   When Reddit investors took to their Robinhood apps to engage in a "short squeeze" against fund manager Melvin Capital, this caused significant financial damage to Gabe Plotkin, owner of Melvin Capital, who also happens to have just become a major business partner of Jordan's, buying a massive stake in the Charlotte Hornets.   While Michael Jordan's net worth remains high, the financially damage to a major business partner undermines his ability to sell more of the Hornets to Plotkin and also adds to the $300 million in losses he incurred after a pandemic-crippled NBA season.

The financial trading app Robinhood is been hit with a federal class action lawsuit after it restricted trades to stocks popular on the Reddit forum r/WallStreetBets.  The lawsuit, filed in the Southern District of New York on Thursday, alleges that the app “purposefully, willfully, and knowingly removing the stock ‘GME’ from its trading platform in the midst of an unprecedented stock rise, thereby deprived [sic] retail investors of the ability to invest in the open-market and manipulating the open-market.”

Investors on the Robinhood app were confused today to find out that they could no longer buy shares on GameStop.  GameStop stock has been on a frenzy, led by a Reddit group that was focused on pushing the stock to higher and higher levels.   Robinhood is now the focus of a class action lawsuit against the company for restricting trading on the app.  Also, there is the question of whether or not Gamestop Stock will ever go down.   To join Dr Watkins’ wealth building program for children, please visit BlackMillionairesOfTomorrow.com To take Dr Watkins’ financial course, please visit TheBlackWealthBootcamp.com To take Dr Watkins’ course on how to fire your boss, please visit IDontWantaBoss.com Twitter: @DrBoyceWatkins1 Instagram: @TheRealBoyceWatkins Youtube: Youtube.com/DrBoyceWatkinsText the word Boyce to 31996 to connect via text message Email: [email protected]

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Our All Black Intellectual chocolate panel discusses the single parent issue in the black community.  I expect you'll enjoy the discussion.  You can watch via video on DrBoyceTV.com. 

I want to talk about the extraordinary journey of GameStop stock.  The stock has risen over 1,000 percent this month and has to do with something called a "Short squeeze."  

This is fascinating and I explain how this stock may have literally helped me finish paying off my parent's house. 

You can watch the video version of this podcast at this link. 

I wanted to inform you about a recent set of remarks by the rapper and businessman Master P, who called out a new app called Clubhouse for the fact that the company is now worth over a billion dollars, largely due to the social capital provided by black people.

I discuss the issue on The Black Financial Channel and you can hear my analysis here.

Don't forget that Lanee Javet is hosting The Women of Wealth Weekend starting January 30th.  The conference will feature over 20 black women speakers who are noted in their fields, and will cover everything from How to make money with an online class, to money and relationships, starting a life changing side hustle and much more.

You can take a look at the conference agenda by visiting WomenOfWealthWeekend.com.

Please take care and have a wonderful day.

Joe Biden just made an announcement that I don’t believe will make Harriet Tubman very happy.  The Biden administration, rather than addressing the demand by millions of black people for the government to pay reparations, has announced that Harriet Tubman will be put on the $20 bill.  I don’t know if Joe Biden ever plans to pay reparations, but decorating money with black faces is not the same as giving money to black people