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Why is the Atari stock so high?


Lord Mushroom

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I bet Wade Rosen is pretty happy with the low stock-price, as he is most likely going to take part in the 12.5 million euro capital increase they are going to have, and the lower the stock is, the bigger share of Atari he will get.

 

Edit:

Or probably not, as this capital increase was completed on March 30th.

Edited by Lord Mushroom
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Some news:

- The Atari hotels seem to be dead. The licenses to those who planned to build them have been terminated.

- Atari lost 23 million euro in 2021. 20.7 million euro of those were write-offs (9.7 million euro for Atari hotels licenses, 9.4 million euro for the VCS inventory and R&D and 1.1 million euro on select free-to-play games).

- They are going to be more careful about who they give licenses to in the future.

. They will most likely renew the Rollercoaster Tycoon license.

- They are developing hardware for the VCS. See speculations about what that could be here:

https://atariage.com/forums/topic/338862-atari-developing-hardware-for-vcs/?tab=comments#comment-5099903

- They have (according to a You Tuber) bought a lot of land on Satoshi Island (an island dedicated to crypto-stuff).

- They will be "Creating innovative and best-in-class hardware systems. Going forward hardware creation will be focused around industry subsets (e.g. retro gaming) where Atari has natural advantages and can establish a dominant market position;"

- They are "continually negotiating potential acquisitions and licensing transactions to acquire retro games."

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56 minutes ago, Lord Mushroom said:

 9.4 million euro for the VCS inventory

so they're sitting on 10M in inventory?  how many units is that?  like 50,000?  that seems nuts

 

58 minutes ago, Lord Mushroom said:

- They have (according to a You Tuber) bought a lot of land on Satoshi Island (an island dedicated to crypto-stuff).

is that the current ownership group, or the prior ownership group?

 

hmmmn.

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It is easy to criticise Wade Rosen´s performance, but I think that is way too soon. He inherited/bought a mess, and is trying to fix it. Frederic Chesnais did what was best in the short run at the expense of the brand. Wade Rosen is trying to build the brand at the expense of short term results.

 

The write-offs were not Wade´s fault (unless he was the one responsible for pouring so much money into the VCS), and it is not his fault that cryptocurrencies have fallen so much, which affects Atari´s share price.

 

I must say I am intrigued about the innovative and best-in-class hardware systems they are talking about. Especially as it most likely is to be in the field of retro-gaming.

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Why is the Atari stock so high?

 

 

Allow me to answer seriously.  First off,  Penny Stocks are notoriously Risky, but if you want to swing for the fences, be my guest.  Usually penny stock investors think some new headline or company action is Really going to move the needle...

   At .13 (13 cents a share)...Well, TO ME,  This seems Ridiculously High!  (Maybe $.0013 would be closer)   I, PERSONALLY, knowing it's nutari,  Not the ATARI of old, which we Love,...Think people are just confused.  They're thinking it's the same old Atari from before...They don't realize the dirty dealings of this company, the lawsuits, the Cease and Desist to an AtariAger writing a book about the History of Atari, The naming of the (new) VCS, the ripping off of Curt Vendel, etc.  The fact is that this stock had a trading volume of 100 today.  So, theoretically, if you had invested a couple of grand in this,  you'd be lucky to sell your shares...Unloading them 13 dollars at a time on a good day...

 

 

Just my 2 cents.

 

 

PS I Love Old Atari!   Nowadays if you want to get in on a company associated with video games,  Try MSFT (MicroSoft Corp) and get back to me.  Today it closed at $283.65 +$1.18 with a trading volume of 17,548,889.  Not that you'd usually just compare one day, but,...Which sounds better?   MSFT Up +0.481%... or PONGF Down -7.1429%?

 

Oh well...At least they're not Intellivision Entertainment!

 

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4 minutes ago, D Train said:

so they're sitting on 10M in inventory?  how many units is that?  like 50,000?  that seems nuts

It is inventory and R&D. That is all I know.

 

7 minutes ago, D Train said:

is that the current ownership group, or the prior ownership group?

I don´t know. There is just a You Tuber who posted a video where the title says Atari bought major land in Satoshi Island, but the video doesn´t even mention Atari.

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1 hour ago, Lord Mushroom said:

9.4 million euro for the VCS inventory and R&D

OK, some back-of-the-napkin mathematics:

 

$3M raised (approx. €2.92M at today's rate of €1 = US$1.025) via crowdfunding plus the €9.4M in writeoffs comes to a total of around €12.3M.

 

Generously assuming 12,000 units sold, that's a cost to Atari of €1025 (US$1050) per console - or approximately 2.5 times more than even the loaded models were selling for.

 

I'd be interested to hear how much (if any) unsold inventory they're sitting on.  Even Micro Center no longer has them listed.

 

Perhaps they're now keeping 500 I, Robot cabinets company at the bottom of the sea*.

 

 

 

 

 

* Yes, yes, I know.  No need to tell me :-D

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Here's something interesting...

 

They say the market bottomed out in March of 2020.  This info is from Benzinga;  I added the ATARI information, using the price of .32 (closing price 3/2/2020), so $100 would have bought  312.5 shares (You wouldn't actually buy a half share, but...)

 

Assume you'd invested $100 in March of 2020 in the following:

 

Winners (and Atari) Since March 2020: Here's how much $100 in each of the following cryptocurrencies and stocks back at the bottom of the U.S. market in March 2020 would be worth today:

  • Bitcoin (CRYPTO: BTC): $369.75
  • Ethereum (CRYPTO: ETH): $1,355.68
  • Apple Inc NASDAQ:AAPL: $286.67
  • Microsoft Corporation NASDAQ:MSFT: $204.21
  • Tesla Inc NASDAQ:TSLA: $1,018.59
  • AMC Entertainment Holdings Inc NYSE:AMC: $605.64
  • Atari SA  OTC: PONGF  $42.19

 

 

 

 

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On 4/12/2021 at 12:02 PM, Rogerpoco said:

I'm thinking that, for enthusiasts...

"Activision" coming back to life almost even surpasses the VCS itself coming back to life, and possibly lends some credibility to the overall idea, associated or not.

Don't have a clue, the new VCS isn't even on my radar yet, tho I couldn't imagine not eventually getting one, but I really think the Audacity news kicked EVERYTHING into overdrive, as far as enthusiasm.

X2 the Activision Rockstars and Atari releasing cartridges again factor into the equation.

 

The pattern is repeatable, if Todd Frye joins Audacity and releases Zevious the Atari stock will get twice as High again.

 

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2 hours ago, Cebus Capucinis said:

Wait. They reported the VCS inventory as a write-off? Quick, someone tell all the VCS fans that threw fits whenever anyone pointed out the GameStop price was probably a fire sale. LOL

Haven't you heard?  It was all of us haters that caused this issue!  All this time, I never knew my "voice" mattered - LMFAO.

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3 minutes ago, Stephen said:

Haven't you heard?  It was all of us haters that caused this issue!  All this time, I never knew my "voice" mattered - LMFAO.

Absolutely. My nine year old read this thread, walked into the room, and asked "Why are people on the internet still being mean to you, dad?"

 

 

And then everyone clapped.

 

That one's still my favorite VCS moment, the literal cringe-Reddit-tier lie "everyone clapped " style story.

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On 8/13/2022 at 6:37 PM, frankodragon said:

So if you buy all in one, it will cost you $164 more than to buy separately.

 

Convenience fee? Extra packaging? 

 

The last concert that I attended, there was an extra charge to download electronic copies of the tickets vs. having paper tickets sent in the mail. There are some things that I just do not understand. 

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On 8/13/2022 at 2:01 PM, Cebus Capucinis said:

Wait. They reported the VCS inventory as a write-off? Quick, someone tell all the VCS fans that threw fits whenever anyone pointed out the GameStop price was probably a fire sale. LOL

 

That's the only time GS would have any non Sony/Nintendo/Xbox console out on display out on the sales floor is when they were trying to get rid of backroom stock they wouldn't sell youto you before.

 

Hell, I've never seen a Jaguar publicly available untill they were trying to unload them at fire sale prices along with the Virtual Boys...

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