Friday, December 2, 2022

Clubhouse stock is booming. This is the wrong Clubhouse.

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We have already seen the Elon effect on dogecoin, Bitcoin, and GameStop (and OK yes, You’re here as well). And now The Elon Effect has reached the Clubhouse.

In the wake of Mr. Elon Musk Tweeter Sunday that he would speak live on the social media audio app currently take the world by storm At 10 p.m. that night, shares of the Clubhouse Media Group climbed more than 100% in early trading on Monday, before pulling back a bit to trade a modest 83 percent more on the day at the time of the pixel.

Take a look at the three-year chart:

????? !!! Wen lambo?

The only problem is that. . . this is the wrong Clubhouse. The Clubhouse currently in full moon is in fact pink leaf Clubhouse Media Group Inc, symbol $ CMGR, which according to Bloomberg “Provides medical treatment, scientific research, education, prevention and health services”.

So Clubhouse Media Group Inc is a healthcare company that was previously called Tongji Healthcare Group and is based in Guangxi, China? Why is a Chinese healthcare company called Clubhouse Media Group?

Well according to A press release of the company, Tongji Healthcare in August acquired West of Hudson Group Inc, owner of “The Clubhouse,” “a collection of content creation houses located in quaint Southern California mansions that are home to [sic] some of the largest and most followed social media influencers, together with an estimated base of over 70 million followers among all Clubhouse influencers ”.

So there you have it. The company that doubled in value earlier on Monday is actually a “content house” company these really exist) which is owned by what appears to be a shell company in China. It has no connection with the Clubhouse app launched in 2020, which is a private company that valued at $ 100 million last May after an investment by Andreesen Horowitz.

We’re open to the idea that there is still room for shares of content creation houses to rise in value, but we saw no news on Monday or over the weekend that would warrant a reaction. also sudden stock price. So we’re not entirely convinced that those currently crammed into Clubhouse Media Group know what they’re doing (unlike, of course, those who stacked up in GameStop, or Bitcoin, or Tesla).

Stay safe, kids. It’s ridiculous there.



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