Showing posts with the label math

An Increase of 1000%; a Decrease of 81%, and What's Left?

GameStop/EB in the news Alerted by my guru, I read the big news in the financial markets last week that  GameStop shares are up 1000% .   In Canada, GameStop owns the EB stores which sell video games and accessories.  When some big hedge funds were shorting GameStop stock, a social-media network of smaller investors, described as "gamers and nerds," decided to squeeze the short-sellers--which they did with great success, raising the stock price and costing the hedge funds billions in losses.  How Much is 1000% minus 81% Andrew Left of the hedge-fund Citron, one of the short-sellers, remained adamant that "Nothing has changed with GameStop except the stock price," and the company is still a loser.  (I always have time for sour grapes.) This week the headline is "GameStop Stock Drops 81%." So, how much is 1000% - 81%?  Spoiler  alert: that's not how percentages work. How many of us innumerates have a confident understanding of this basic fact of