ERROL PARKER | Editor-at-large | Contact
Godfreys Vacuums say they now regret delisting from the Australian Stock Exchange in 2018 after seeing what the people have done for US video game retailer GameStop.
Retail investors have gone to war with Wall Street this month by buying up shares in the bricks-and-mortar business, sending the price through the roof and in turn, hurting hedge funds that heavily shorted the business.
Previous to this week, GameStop was seen by investors as a “dead-end” company that was doomed to fail. The events of the past few days have proven that theory to be false.
Closer to home, Godfreys say they were in a similar position to GameStop when they delisted and now they regret the decision to take themselves off the public exchange.
“There were people shorting us, big hedge funds pretty much laughing at us,” said one former Godfreys board member.
“If we only we were still on the exchange, we could’ve been the Australian version of GameStop. I don’t think there’d be a person in the country who wouldn’t like seeing grown men openly weep in Martin Place. Could you imagine? God,”
“We could’ve made ordinary Australians rich. Oh well. I guess you can probably do it to another dead-end company like [REDACTED BY LEGAL] or [REDACTED BY LEGAL]. Do your thing, ASX!”
More to come.
