Radio Shack has made a dramatic shift to go from a failing consumer electronics company to an actual cryptocurrency exchange. They are pretty late to the game as the competition is ridiculous in that space when you have the likes of Coinbase, Bitmex, FTX, Binance, and Gemini dominating as well as Square now named Block and other fintech companies diving in deep into this extremely profitable space.
It seems that this is looking more like a meme stock than a genuine play in this space. Radio Shack has been around for a very long time and this dramatic shift looks like a hail mary to save the company from extinction. The only way that this can work is if Radio Shack actually aligns with a company in this space or in the blockchain arena that can allow them to really build not only in the crypto exchange arena but in blockchain in general.
There are a few options for them to consider and it’s probably best for them to seek out a privately held company with proprietary platforms that would allow them to get a jump start and a select few are out there. MegaHoot Technologies is one of them, they not only have proprietary platforms but they also have the development team in place to continue develop enhanced systems, what’s lacking is the marketing aspect, add a viable marketing team to that picture and Radio Shack could be a sustainable player in many arenas in this scenario.
They need to do something other than delivering the hype, they need to acquire or align with a company in this space and then this will become a very interesting situation. If Radio Shack is just looking at this as a hail mary to keep the interest and not concerned about the future of the company then they may sleep along side the likes of Woolworth and Blockbuster.
– James Keough
