The 1% Think You Are Dumb Money

By B18 | B18CCS | 22 Sep 2023

This is a David and Goliath tale of one of the most outrageous chapters in modern financial and internet history.

Of course we are referring to the GameStop stock story of 2021, where #WallStreetBets took on the Hedge Funds and turned Wall Street on its head.

Dumb Money The Movie

Dumb Money premiers at the Luna Palace Cinema, our local independent movie house, this Saturday. Damn I will be at work till Tuesday and will miss the premier night at the Luna.

Would really like to see the movie to get a better idea of what happened in 2021. Only have a superficial understanding at best and movies can give you an immersive feel for something that you can’t get from merely reading about it.

Synopsis

Dumb Money is based on the crazy but true story of the everyday people who flipped the script on Wall Street and got rich quick by turning GameStop into the world's hottest company.

In 2021, a group of amateur investors from the Reddit page, #WallStreetBets, banded together in a short squeeze.

In the middle of everything is a regular guy Keith Gill (Dano), who starts it all by sinking his life savings into the stock and posting about it. When his social posts start blowing up, so does his life and the lives of everyone following him. As a stock tip becomes a movement, everyone gets rich - until the billionaires fight back, and both sides find their worlds turned upside down.

And the best part is that Dumb Money is supposed to be funny and comes with a complimentary doughnut on admission. Would need to watch the movie to find out the significance of the doughnut. But my guess would be Keith liked doughnuts. Maybe one day we will be wishing people Happy #GamestopDoughnutDay. After all it took a few years for #BitcoinPizzaDay to catch on.