“I like the stock!”
Welcome to “We Watch It!” – the podcast where Cody Aaron Hanify, Shannon Mahaffey, and J.T. Hazzard dive deep into the latest movies and dissect their every aspect. In this episode, get ready for an adrenaline-pumping discussion as the hosts unpack the mind-boggling true story portrayed in “Dumb Money.”
“Dumb Money” is a gripping David vs. Goliath narrative, showcasing the astonishing real-life events of ordinary individuals who defied the status quo of Wall Street. The movie brings to life the audacious tale of how a group of retail traders, propelled by the camaraderie fostered on social media platforms like Reddit’s WallStreetBets, reshaped the financial landscape by catapulting GameStop, a struggling video game retailer, into the limelight as the hottest company on the planet.
In the early months of 2021, these retail traders identified a vulnerability in the market – GameStop was inundated with significant short positions held by hedge funds and institutional investors. These financial giants had essentially bet against the company’s success, banking on its stock price plummeting.
Recognizing this unique circumstance, the retail traders seized an opportunity to disrupt the game. They united, strategically buying and holding shares, setting the stage for a thrilling “short squeeze.” A short squeeze is a phenomenon where a heavily shorted stock’s value skyrockets swiftly, compelling short sellers to scramble and purchase shares to cover their positions and mitigate their losses. This buying frenzy initiated by the short sellers further propelled the stock price, creating a whirlwind effect.
Join Cody Aaron Hanify, Shannon Mahaffey, and J.T. Hazzard as they unravel the intricacies of this incredible saga in “Dumb Money,” examining the triumphs, challenges, and ethics involved in this financial revolution. Tune in as they delve into the cinematic depiction of this true underdog story and provide their unique insights, critiques, and thought-provoking commentary on the societal implications of this captivating tale. Get ready to laugh, ponder, and be thoroughly entertained in this episode of “We Watch It!” – DUMB MONEY –DIRECTED BYCraig Gillespie WRITTEN BYLauren SchukerBlumRebecca AngeloBen Mezrich (Based on a book “The Antisocial Network” by) STARRINGPaul DanoPete DavidsonVincent D’OnofrioAmerica FerreraMyha’la HerroldNick OffermanAnthony RamosSeth RogenTalia RyderSebastian StanShailene WoodleyKate BurtonClancy Brown