The Bank of America is a well-known financial institution that operates in the United States. It offers a broad range of financial services to individuals, businesses, and corporations. With its origins dating back to the late 18th century, the Bank of America has been a prominent player in the banking industry for over two centuries. One of the notable aspects of the Bank of America is its commitment to innovation and technology. Over the years, it has embraced various technological advancements to provide its customers with easier access to banking services. This includes online banking, mobile banking apps, and digital payment platforms.
The author of the report goes on to argue that Wizards is failing to grow their player base, and instead is relying on increased revenue per consumer, instead of selling to more consumers. Their evidence for this is a Google Trend report which shows that Magic is 15% more popular since 2019 while revenue has increased 65% in that time period. This analysis makes no references to the pandemic spike or inflation nor does it compare that growth to industry competitors.
Is this a deep dive into the business of Hasbro selling sealed product, the very thing that drives the revenue for the company, or is it a deep dive into the business of investors buying and selling cards and boxes through secondary outlets like TCGPlayer or eBay growing concerned that their cash cow has dried up. This focus on the secondary market may be fair, but the author fails, in my opinion, to explain exactly why the secondary market, which Wizards of the Coast and Hasbro have little to no control over, is such a major influence in the revenue growth of the game, as well as the stock price of Hasbro as a company.
This includes online banking, mobile banking apps, and digital payment platforms. In recent years, the Bank of America has also partnered with various companies and organizations to offer unique and exclusive benefits to its customers. One such partnership is with Hasbro, a multinational toy and board game company.
Should You Be Worried About the Bank of America Stock Forecast for Hasbro?
Look, I don’t have any love or loyalty to Hasbro. What I do have is a journalist’s desire to read the full report, not just CNBC’s first-page summary, and form my own conclusions. A lot of folks this morning latched onto the headline and the news quickly disseminated throughout the community. Hasbro stock had been downgraded not once but twice by Bank of America. The pre-market value of said stock took a tumble.
The community, led by several prominent influencers, was more than happy to throw fuel onto the fire that had been lit. Many prominent accounts on Twitter took a stance similar to “you reap what you sow” keying in on the idea that they had spent years highlighting some of the same issues that the BofA report highlighted.
Magic 30th Anniversary Edition is overpriced. Too many products are being released. Cards are being overprinted.
But when someone says they did a “deep dive” on the Magic: The Gathering trading card game business, well call me curious but I want to see what that means. I’ve been playing Magic for almost 30 years and I’ve been writing about it form a journalist’s point of view for the past decade. While I appreciate CNBC’s pre-market summary, that’s made for investors, and for the dozens of websites that copypasta that kind of thing. It isn’t for journalists. At least not for me.
So I got a hold of the report, and I read it, and I read it a few more times just to be sure, and we’re going to discuss some Bank of America’s claims about why they decided the future outlook for Magic isn’t as rosy as previously thought, so much so that it’s going to drag the rest of Hasbro down with it. Why do they think the game’s future is in danger, what did their “deep dive” entail, and what did it reveal about the business of Magic?
Before I continue with my analysis of the report I want to make a few disclosures. I am not a financial analyst, advisor, fiduciary, or any of the above. I have never had any job doing so in the past. The closest I’ve ever come to doing so was while working as a software engineer for Morgan Stanley, a competitor to Bank of America. I have not worked in that industry for more than six years now. I am not advising you in any fashion to make any economic decision. I am not telling you to buy, sell, hold, or do anything else with Hasbro stock or any other financial instrument.
I am simply someone who writes about Magic: The Gathering and again, is very interested in a “deep dive” on the business of Magic and want to talk about what I found valuable, what I found questionable, and what I found lacking in Bank of America’s report.
Through this collaboration, the Bank of America offers its customers exclusive access to Hasbro's Magic: The Gathering card game. Magic: The Gathering is a popular trading card game that combines elements of strategy, skill, and luck. Players build decks of cards representing creatures, spells, and other game elements and compete against each other in matches. With the Bank of America's collaboration with Hasbro, customers can gain access to exclusive card sets, promotional offers, and other perks related to the Magic: The Gathering game. This partnership between the Bank of America and Hasbro is an example of how financial institutions are expanding their offerings beyond traditional banking services. By teaming up with popular brands and companies, banks can provide additional value to their customers and establish themselves as more than just a place for financial transactions. Overall, the Bank of America's collaboration with Hasbro's Magic: The Gathering game demonstrates its commitment to innovation, technology, and customer satisfaction. It showcases how banks can leverage partnerships to offer unique benefits and experiences to their customers while staying true to their core banking services..
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