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Dumb Money is a 2023 American biographical comedy-drama film, directed by Craig Gillespie and written by Lauren Schuker Blum and Rebecca Angelo. It is based on the 2021 book The Antisocial Network by Ben Mezrich and chronicles the GameStop short squeeze of January 2021.
The documentary chronicles the GameStop short squeeze of 2021 which saw GameStop's stock rise over 2,500% amidst rampant volatility. This story is told mostly from the viewpoint of several value investors who participated in sharing their due diligence on social media, most notably Roaring Kitty's YouTube streams.
The movie is at its most compelling when GameStop's stock soars 1,600% — making potential investors into paper millionaires but leaving them anxious about whether to ride higher or cash out.
Think of movies about the financial system and your mind is almost sure to go to Gordon Gekko and “Wall Street” or Leonardo DiCaprio’s gyrating Jordan Belfort in “The Wolf of Wall Street ...
The stock market can often seem less like a financial index and more like an opaque narrative, one with winners and losers, risk and reward, and not necessarily linked to any company’s inherent ...
Once the GameStop phenomenon—popularized by that community—became a #1 global headline however, the focus shifted more towards the tug-of-war around meme stocks, and the financial markets phenomena underpinning this highly unusual event. Filming began on February 1, 2021, in Nevada.
In fact, despite becoming a cult hero to legions of “little guy” investors, Gill completely disappeared from the public eye after testifying about the GameStop short squeeze in February 2021.
This caused the GameStop stock price to rise from under $14 to over $48, though Gill's post did not mention GameStop. GameStop benefitted from this by issuing more stock at over $20, raising over $900,000,000. [207] [208] [209] Other stocks such as AMC, BlackBerry, Virgin Galactic also experienced major increases during this time period. [210]