looks like your friends got caught

https://www.zerohedge.com/technology/tencent-shares-plunge-report-possible-money-laundering-violations

yikes. Look at the 30 day. Dropped by about 40%. Don't know what that means for GGG, but someone's feeling it.

Yes, yes, and everyone at the GGG offices was deeply involved. They're SO eeee-vuuulll... =9[.]9=

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Raycheetah wrote:

Yes, yes, and everyone at the GGG offices was deeply involved. They're SO eeee-vuuulll... =9[.]9=

Sure but let's not get it twisted. The GGG sellout to Tencent wasnt exactly heralded as a great thing. My reaction was basically "yikes" when that went through.

Fact is nobody forced GGG to sell to a Chinese Megacorp that...well we cant dive into politics, so lets just say a less than stellar public record.

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DarthSki44 wrote:

"

Raycheetah wrote:

Yes, yes, and everyone at the GGG offices was deeply involved. They're SO eeee-vuuulll... =9[.]9=

Sure but let's not get it twisted. The GGG sellout to Tencent wasnt exactly heralded as a great thing. My reaction was basically "yikes" when that went through.

Fact is nobody forced GGG to sell to a Chinese Megacorp that...well we cant dive into politics, so lets just say a less than stellar public record.

selling out to them was a good decision

"

CAPSLOCK_ON wrote:

"

DarthSki44 wrote:

"

Raycheetah wrote:

Yes, yes, and everyone at the GGG offices was deeply involved. They're SO eeee-vuuulll... =9[.]9=

Sure but let's not get it twisted. The GGG sellout to Tencent wasnt exactly heralded as a great thing. My reaction was basically "yikes" when that went through.

Fact is nobody forced GGG to sell to a Chinese Megacorp that...well we cant dive into politics, so lets just say a less than stellar public record.

selling out to them was a good decision

Lol

as far as i understood the stock market, share prices plummeting is a bad thing .... for your shareholders but not necessarily the company itself except if they need money cause they would get less from sold shares.

it's the opposite: low share prices offer the opportunity to buy back shares from the market.

the record fines for tencent are gonna hurt but it's not the end of the world, china isn't interested in bringing down the worlds biggest internet company.

Selling out does insure GGG against dry periods. If for some reason their revenue tanks they can rely on tencent to give them a money injection to stay afloat. Also, of course, chris (and maybe a few other people) got a lot of money in their pocket straight up, which many would consider wise.

Selling out was absolutely bad for the consumer in just about every respect, 'course. The insurance thing might save the game for the hardcore fans who stick with it during bad times but that's about it.


Anywho giant megacorps are evil, no exceptions. Since fines/etc are rarely threatening to a company's existence, it's just part of their risk metrics if they decide to do something illegal. Many times the math works out to it being in their favor to skirt or flout the rules; if they calculate the odds of being caught at like 20%, but the potential profits to be something like twice the potential fine, it's a gamble they're typically willing to take.

Yet another case of 'check your sources'.