For anyone who doesnt know about magic the gathering, it is a collectable card game that accounts for a large portion of hasbros sales.
They have been on a downward spiral with poor decisions around the products they offer now and players are getting sick of it.
On the 30th year anniversary, hasbro, via wizards of the coast, released an exclusive high end product line, that in my opinion alienated the average mtg consumer.
The introduction of serialized cards has been very mixed in its reception. The overload of products has overwhelmed customers, and confused them.
Hasbro is basically squeezing liquidity out of wizards of the coast, at the expense of the game. This is very alarming to me as both a player and share holder.
I would be very careful trading hasbro. I think it is going to take a 4th quarter dive.
They have been on a downward spiral with poor decisions around the products they offer now and players are getting sick of it.
On the 30th year anniversary, hasbro, via wizards of the coast, released an exclusive high end product line, that in my opinion alienated the average mtg consumer.
The introduction of serialized cards has been very mixed in its reception. The overload of products has overwhelmed customers, and confused them.
Hasbro is basically squeezing liquidity out of wizards of the coast, at the expense of the game. This is very alarming to me as both a player and share holder.
I would be very careful trading hasbro. I think it is going to take a 4th quarter dive.
Comment:
Wizards of the coast and hasbro are addressing the public on thursday. Speculation says that this in response to the huge failure of magic the gatherings 30th anniversary and the associated product. This will likely exacerbate poor player sentiment.
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Hasbro and wizards of the coast communicated in the "fireside chat" the full extent of disconnect with the consumers and players of magic the gathering. This 35 minute call is a complete dumpster fire and middle finger to the game.
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The magic the gathering community has been reacting to this product in a very extreme way. Most of the content creators that are normal tasked with hyping and building anticipation for products are actually condemning this product.
From a supply and demand prospective, there was an even more alarming action taken by wizards of the coast.
Roughly 20% of the available supply of magic 30th anniversary has a cost basis of $1000 per unit. The remaining 80% of this supply is entering the market at a 0 cot basis. Thats right people who bought paid $1000. Eervyone else who got the product received it for no cost basis at all. This was an extremely uncalculated and damaging decision. Buyers who bought this product for full retail can expect to see a sharp drop in the value of the sealed product, due to so much of the supply being available on the market at a no cot basis. This is the direction hasbro has been moving for the last 2 years, and it is not sustainable for the helth of the game, and hasbros most valuable intellectual rights.
From a supply and demand prospective, there was an even more alarming action taken by wizards of the coast.
Roughly 20% of the available supply of magic 30th anniversary has a cost basis of $1000 per unit. The remaining 80% of this supply is entering the market at a 0 cot basis. Thats right people who bought paid $1000. Eervyone else who got the product received it for no cost basis at all. This was an extremely uncalculated and damaging decision. Buyers who bought this product for full retail can expect to see a sharp drop in the value of the sealed product, due to so much of the supply being available on the market at a no cot basis. This is the direction hasbro has been moving for the last 2 years, and it is not sustainable for the helth of the game, and hasbros most valuable intellectual rights.
Comment:
There has been pushback from the D & D community as wizards and hasbro looks to the next audience and customer base they have to exploit. There is a continued sense of disconnect with hasbro, wizards of the coast, and its customer base. They are currently compounding one problem with another.
The above supply idea also needs to be edited, as it could be closer to 30/70 or even 40/60 for paid supply and free supply. This does not change the implications for people who payed full price for the product.
The above supply idea also needs to be edited, as it could be closer to 30/70 or even 40/60 for paid supply and free supply. This does not change the implications for people who payed full price for the product.
Comment:
Here is the daily chart.
It looks like the downtrend will continue in this descending broadening wedge. Notice the RSI is overbought and rolling over.
We have rejected from the .618
It looks like the downtrend will continue in this descending broadening wedge. Notice the RSI is overbought and rolling over.
We have rejected from the .618
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its getting ugly
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Daily Chart with an Update. Looks like more downside.
Rsi broke trend
Rsi broke trend
Comment:
I have exited my position in legacy/vintage cards and modern cards and singles. I am keeping the sealed product that I have bought to draft. Those drafts will remind me of when hasbro cared about its players and the game they love to play.
This company is a liability for collectors and is acting in a very volatile and nefarious manner.
This company is a liability for collectors and is acting in a very volatile and nefarious manner.
Comment:
heres the price action breaking through every simple moving average.
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yikes