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dumb money netflix | dumb money cinema | dumb money rotten tomatoes | dumb money age rating | dumb money amazon prime | dumb money wiki | dumb money cast

maybe now there is yeah comedy drama called dumb money examines one of the most peculiar online movements from 2020s co9 pandemic thousands of strangers had been persuaded to purchase GameStop equities by a financial analyst named Keith Gil despite the company on the verge of bankruptcy and investment corporations shorting its shares it is undeniable that the film distorts the story to make it seem like a Victorious Uprising by the working class against the wealthy capitalists which was the exact emotion expressed by users of the internet at the time what is the film about the term dumb money is used by corporate investors and established Wall Street firms to mockingly refer to individual investors who according to them have little clue about where they are putting their money the film

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dumb money presents an event from 2020 when this very opinion was subverted and the so-called dumb ones had overturned the corporation’s Fortune the film begins with scenes of this very heightened situation where Founders and investors in hedge fund company Melvin Capital are in utter shock as they face great financial losses the people at Melvin Capital starting with their founder Gabe Plotkin had recently been short selling the stocks of GameStop a physical store chain across the USA selling video games and products related to gaming the act of Short Selling involves borrowing shares of a company at a higher price and and selling them off at the same price with the

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prediction that the share prices will fall and so the trader will have to pay much less than what they had sold it for when buying back the shares from the lender Short Selling therefore often drives businesses to bankruptcy as it is technically a forceful method of targeting a company and making its share prices drop through incessant selling in 2020 GameStop was obviously experiencing significant financial losses due to the coid outbreak and the lock Downs that followed the company has also been struggling generally as a result of Gamers shifting preferences which now favor purchasing and downloading digital video games it was perhaps not surprising that the company’s share prices were declining but Melvin capital’s interest in the company and the short selling of its stock made matters worse at this time Keith Gil a regular guy made the decision to step up and take responsibility a financial analyst by profession Keith was also very active on both YouTube and Reddit through which he started to inform people about this short-

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selling situation having had a strong emotional connection with Gamestop ever since his childhood Keith wanted to save the business from bankruptcy after investing all his money into buying shares of the company Keith Gill asked everyone on the internet to do the same how did Keith managed to stop Melvin Capital Keith Gill’s story and dumb money begins with an inform formal meeting with his good friend briggy who happens to be a Wall Street investor it is to this friend that Keith first tells about his investment in GameStop which seems like a decision based on emotions rather than any tough Financial predictions the timing of Keith’s risk and story also seems important in this regard as it all took place during the coid 19 pandemic when people were more vocal against big establishments and institutions along with the many Health scares some were indeed more open to taking risks that had the potential to yield big rewards the games toop short squeeze incident seems to have been a result of both of these Trends as the beginning of the chain reaction takes place in an equally informal manner when Keith tells briggy about his investment the waitress at the place overhears and decides to invest in the company to she reasoned that if an ordinary guy like Keith was investing in a firm like GameStop against the advice of a Wall Street investor then he must know something more than the corporate employee even while this exchange is most likely fictitious it does

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reflect the spirit of the internet movement in that those who took part in the short squeeze didn’t truly expect to make money from their investment they only contributed their funds to help the relatively modest company and to fight the big businesses that were attempting to bankrupt it financially after putting in his money to buy GameStop shares Keith posted videos about it on his YouTube channel and also wrote about it on the Reddit Forum named Wall Street bits in fact this very Reddit Forum was and still is about people wanting to take on big investment firms from Wall Street and somehow disrupt their corrupt intentions a group of madeup characters are featured in dumb money and they are shown to join the movement after learning about Keith’s internet activity the first is Jenny a nurse who is a single mother and has financial difficulties she is keenly interested in purchasing stocks to put pressure on the firms Jenny quickly corrects a colleague friend who suggests that it makes more sense to trust

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bankers and advisers when making Investments because they are also highly manipulative and belong to the same capitalist group that she wants to stay away from the woman essentially puts her faith in Keith and also in the failing GameStop business hoping to help revive the company and teach the corporational lesson once the price starts to rise Jenny keeps investing more and more instantly buying shares to help the company and also better her finances the second individual putting faith in Keith’s call for Action is Marcus an employee at one of GameStop’s many retail stores despite being frustrated by the reduced payments and the presence of his boss who is least bothered about the company’s Financial condition Marcus holds on and keeps buying more shares the son of an immigrant couple the young man intends to pay off his parents’ debts and buy them a house and he intends to use his earnings from the GameStop shares to fulfill this dream of his although Marcus has a more immediate need for the money he still decides to hold on to the shares and help the company some more before thinking about his personal gains reir and Harmony are two young women who are college students and both are heavily in debt after watching Keith’s YouTube videos the two decide to buy GameStop shares in whatever quantity they can afford and they too have vengeful hatred against the corporate firms Harmony Who hails from a small American town has directly faced the horrible effects of the greedy corporations her father used to work at a store chain named Shopco where the man had spent his entire career rising from a mere worker to the general manager however the company was then bought over by a corporate firm which took away all the funds from it leaving it bankrupt and then left not caring about the

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livelihoods of the workers therefore helping game top survive the short sale would bring a very personal joy for Harmony and her girlfriend Riri also supports her and joins in within some time Keith and the other individual investors managed to carry out a short squeeze which is the term used to refer to a situation when the stock prices of a company that has been affected by Short Selling manag to rise instead of falling as predicted by the short sellers such a situation is possible when investors buy stock in the company and hold on to the shares even though the prices keep increasing Keith and the individual investors held on to their stocks in this very manner despite them being able to earn great profits if they sold off the shares this obviously led to huge financial losses for firms like Melvin capital and Citadel that had carried out the short sale against GameStop as they now had to pay back more money to the lenders than they had sold the stocks for in a sense the common people had indeed managed to win a battle against the established big corporations what major setback does Keith’s movement face during the GameStop short squeeze most of the trading that individuals like Keith had done had been done through the Robin Hood trading app which let users trade without charging any upfront costs the apps creators by bat and Vlad tenv

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purposefully chose a name that would imply they were supporting the underprivileged and common people and wanted to take advantage of the wealthy and Powerful the Robin Hood app itself and enjoyed great praise and a massive rise in popularity because of the game’s top movement but ultimately when pressure was built on them by the corporates Vlad tenev gave way and took away support from the masses that he supposedly wanted to help through his app when Melvin and Citadel management instructed tenv to do so the ability to purchase more GameStop trades was momentarily disabled from the Robin Hood app as a result the explosive increase in GameStop share prices was halted no more shares could be purchased investors were also alarmed by the Frozen by button and many of them liquidated their shares to protect themselves from possible losses in the event of a fall the sale button remained operational during this entire period indicating that this was also a part of the company’s plan after a while Robin Hood allowed the buy button once more and it was anticipated that this deliberate bug would halt the short squeeze movement since this kind of restricted access is entirely prohibited however the corporations had once again underestimated the masses and as soon as the Robin Hood app was back online people started to buy stocks of

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GameStop making the share prices rise once again what ultimately happened to Keith and GameStop following the illegal act carried out by Robin Hood the authorities started to investigate the matter and soon a congressional hearing was called for Keith Gil was also asked to attend this hearing remotely via video call along along with the CEOs of Melvin capital and Citadel as well as Robin Hood CEO Vlad tenv no concrete evidence was found to claim that the trading platform had received benefits from the corporations to disable the option to buy the stocks the whole matter did not directly affect the corporations as was wished for by the individual investors but it surely had some indirect repercussions around 6 months after the hearing text messages between Robin Hood and Citadel were indeed found suggest testing that the two had worked together to stop the short squeeze Robin Hood soon became a public company in 2021 opening up its shares to investors in the market however its reputation had been hampered

so much that it failed to make any impact whatsoever and actually had a horrible debut in the market for a company of its size the owners suffered greatly because of this and have currently lost a lot of money because of their company Melvin Capital CEO Gabe Plotkin suffered equally large losses and wound up his hedge fund company GameStop on the other hand continues to exist though it is still a loss making company due to the waning relevance of physical stores in the meantime a large number of individual investors made significant profits by selling all or part of their GameStop stock and dumb money Marcus Riri and Harmony can be seen selling their shares in order to pay off debt and fulfill their personal goals Jenny held on to the stocks and defiant of selling them possibly in the hopes of making more money before going fully missing from the internet it was reported that Keith Gil the main player in this whole situation still owned the shares in April 2021 Keith made his final online appearance in a YouTube video posted on his channel there are many who think the man has now liquidated his stock and retired with the millions he earned dumb money’s ending shows Keith contemplating whether he should sell off the stocks but then ultimately decides to invest more and buy more stocks jubilant that he has achieved what he had intended for all this time the man celebrates with his younger brother Kevin

 

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