Everyone wants to blame magic30 shaking buyer confidence in reserved list cards for their decline when it’s like pretty blatant the prices are going down cause their massive explosion was fueled by crypto and now that crypto is crashing secondary market collectibles are following
“Black Lotus this year has plunged 42%, to $26,500. Timetwister has fallen 26%, to $9,500. Mox Jet is down only 9%, to $7,770—must be a defensive holding.” This barons article
The game “Magic: The Gathering” was low-profile for years but now brings in about a third of the game company’s profits. Has Hasbro crossed
Like. Walmart and target announce massive declines in sales this year quarter over quarter that is applicable to all retailers. And Magic had 2 massive releases delayed by quarters. “oh it’s probably the magic 30 packs that are hurting the wizards bottom line…….
You could argue that commander legends and Unfinity were both mediocre product launches leading to retailers being over indexed on product. And this fall, due to product delays, did have too many releases. But also. Inflation, gas prices, war, crashing economy, all super relevant
Like I could argue 80 different reasons for hasbro stock to go down but “printed mediocre proxy set with some reserve list cards ” is like really close to the 80th on the list.
Tbh(Tin foil hat on)this article and the Bofa one reek of mtg finance bros who have significant holdings in reserve list cards reaching out to their regular finance bros to shout about how printing these reserve list cards is this big mistake to scare WOTC from doing it again.
Knowing the product is already unpopular for the exact opposite reason. But if analysts asked around they’d get the “magic 30 packs are bad” story with 0 context
