UA-59049186-1 What's Going On Goes To The Moon - Good if it Goes

What’s Going On Goes To The Moon

Stocks only go up and the Mets only go down. Unless you’ve been under a rock, you probably know about the Reddit dudes beating Wall Street at their own game. The long and short (pun absolutely intended) of the situation is this: when investors think the price of a stock is going to decline, they’ll “short” the stock, meaning that they’ll borrow shares of the stock from their broker, sell it at the current price, then once the price falls, they’ll buy the shares they need to pay back the broker. Whatever money is left after they pay back the broker is profit. This is risky, of course, because the stock’s price could go up, causing the investor to lose money because he still owes the broker those shares. Some dudes on Reddit found out which stocks some hedge funds were shorting and promptly started buying those stocks, causing the price to go up and causing Wall Street investors to suffer losses in the billions. Reddit dudes +3. What’s this got to do with sports? New Mets owner Steve Cohen bailed out one such hedge fund.

Cohen, who had been active on Twitter taking suggestions from Mets fans about things like uniforms and the stadium experience, blew all that goodwill rather quickly as he defended Robinhood’s decision to limit the amount of the stocks in question that people could buy in an attempt to help the hedge funds. Barstool’s Dave Portnoy went back-and-forth with Cohen about his stance. Let’s check in on how that’s going.

For those keeping score at home, the Mets old owner was involved in a number of Ponzi schemes. Their new one headed a firm that plead guilty to insider trading a few years back, just spent a billion dollars bailing out a hedge fund that got outsmarted by Reddit, and got chased off Twitter by Dave Portnoy.

Eatin’ things on the internet time! This space’s stance on politics is that it’s only brought up when relevant to a story in sports, seeing as this is a sports blog and all. However, this space’s stance on online bets where one party promises to eat something ridiculous is that they are funny and need not be related to sports to be covered here. One such bet was made on the outcome of the presidential election and the guy who lost is welching.

#EatThatShoe

Bill Walton: National Treasure. During a broadcast of an Arizona State basketball game, Bill gave ASU head coach Bobby Hurley’s daughter a birthday shoutout in a way only Bill can.

Combine off. The 2021 NFL Scouting Combine is off due to covid concerns. Workouts will take place at schools’ pro days and the league will make sure every team has the same info.

The scouting combine is one of my favorite weeks of the year because I am a nerd. Hopefully, we’ll be able to see some of the pro days and testing results.

Dethroned. Kevin King had a rough day in the NFC Championship Game.

N-B-see you later. NBC is shutting down NBCSN in 2021, with the channel’s content moving to USA Network and NBC’s new streaming service, Peacock. The NHL will head to USA, as NBC attempts to position USA similarly to TNT, which carries the NBA in addition to its slate of scripted programming. This move figures to spell the end of WWE’s developmental brand, NXT, on Wednesday nights, since that’s currently the NHL’s big night on NBCSN. It’s just as well, as NXT’s victories over TNT’s AEW Dynamite can be counted on one hand.

The desire to position USA akin to TNT is understandable, but it’s still somewhat surprising that NBC would pull the plug on NBCSN, given how well the network was doing.

The X factor here is the NHL TV deal. The current deal runs out at the end of this season, and ESPN may be interested. If NBC can keep the NHL, they should be able to make up some of the loss of the NBCSN sub fees by raising the sub fees on USA Network, which no cable or satellite provider is going to go without.

Buzzwords aplenty. The horseshoe theory states that the far left and far right of the political spectrum are closer to one another than they are to the center. If the deranged rantings that Dan Campbell called a press conference are one end of a horseshoe, new Eagles coach Nick Sirianni’s word salad is the other.

Here it is, your moment of zen.

Thank you, Alex.

 

Twitter: @KSchroeder_312

 

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