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- Dumb Money focuses on the true story of Keith Gill and the Reddit group that led the GameStop short squeeze, leaving out major player Ryan Cohen. The film depicts a desperate battle between retail investors and hedge fund managers, providing an overview of GameStop's recent history in a highly dramatized and entertaining manner.
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Sep 8, 2023 · Are the small-time investors in the movie based on real people? For the most part, no. Other than being very loosely inspired by the real-life people who were following Keith Gill's Reddit and YouTube posts, the small-time investors (aka "Dumb Money") in the GameStop stock movie are fictional.
Sep 19, 2023 · By Mariah Espada. September 19, 2023 4:54 PM EDT. Dumb Money dramatizes the true story behind working class Redditors turned investors who flipped Wall Street on its head.
- Greg Macarthur
- Many Retail Investors Actually Lost Money Investing In GME. The GameStop short squeeze was mostly successful for early investors. While the main characters in Dumb Money are seen as having a big payday in their individual ways, many retail investors, especially those who got in late into the game, actually were not nearly as successful as Gill was and ended up losing money.
- NBA Legend Michael Jordan Lost A Fortune Shorting GameStop. Jordan reportedly lost roughly $500 million in GameStop shares. In the aftermath of the events depicted in Dumb Money, Melvin Capital was forced to declare bankruptcy and officially closed its doors in 2022.
- Wall Street Bets Users Were Focused On More Stocks Than GME. Other so-called meme stocks also gained momentum through Reddit. While GameStop was the clear cash cow that many of the Reddit users and Wall Street Bets members were most interested in, several other stocks also generated momentum for short squeezes of their own.
- Michael Burry Purchased A Large Stake In GameStop. Burry predicted & profited from the 2008 mortgage crisis. Many outside perspectives from big-name investors and chairmen of their respective companies were included in Dumb Money but not as many as there were in real life.
Sep 29, 2023 · Throughout the film, Cohen is followed around his house by a massive pet pig – a bizarre true fact that was too good not to include. “Steve Cohen had a pig that lived in the family home for...
Sep 22, 2023 · The timely dramedy, based on executive producer Ben Mezrich’s 2021 book The Antisocial Network, tells the true story of an amateur stock trader who turned the Wall Street system into a...
Aug 31, 2023 · Dumb Money is set to give an accurate account of a true David v. Goliath story, highlighting some of the key players that first noticed the potential for the short squeeze that left several early investors of GameStop extremely profitable.
