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Bank of America officially announces that Magic the Gathering isn't as good as it used to be (yes, I'm serious. this is real)
| According to Bank of America, Hasbro continues to over-monetize the brands within its Wizards segment, which includes Magic: The Gathering and Dungeons & Dragons. The bank said that while it preannounced negative earnings, the stock is still not de-risked "given a host of outstanding issues."
| Mainly, Hasbro is attempting to squeeze out as much profit as possible from its Wizards products in the short-term without any thought as to the long-term durability of its brands. And the over monetization is irking customers.
| "We've spoken with several players, collectors, distributors and local games stores and have become aware of growing frustration. The primary concern is that Hasbro has been overproducing Magic cards which has propped up Hasbro's recent [earnings] results but is destroying the long-term value of the brand," Bank of America analyst Jason Haas wrote.
| The oversupply of Magic cards means "card prices are falling, game stores are losing money, collectors are liquidating, and large retailers are cutting orders," Bank of America explained. The bank names "weak fan engagement with Hasbro's brands" and "fading appetite for Magic releases" as key downside risks for the stock.
https://markets.businessinsider.com/news/stocks/hasbro-dilutes-magic-the-gathering-brand-stock-price-bank-america-2023-2
| Sorry for the clickbaity headline but this board needs some entertaining news once in a while.
| entertain the notion of these nuts bouncing on and off your chin
| HOLY SHIT
| Honestly would love more of this stuff. Kinda hilarious but while being reasonably serious
| Better late then never I guess
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| Hasbro continues to dilute the brand value of its popular Magic: The Gathering card game, according to a Tuesday note from Bank of America, which said that the company faces a steep decline in its share price if it continues to "destroy customer goodwill."