Dumb Money, starring Paul Dano and Pete Davidson, centers around the true story of the GameStop short squeeze on in 2021.
Dumb Money, currently playing in theaters across the country, is based on the book The Anti-Social Network by renowned chronicler of capitalism Ben Mezrich, who also wrote the book about Facebook that was adapted into the movie The Social Network. This newest movie tells the story of the 2021 financial event known as "the GameStop short squeeze.
Short Selling Is a Way To Bet That a Business Will Fail Betting that something will increase in value is pretty natural. We invest in our own futures, and in the future of our families, all the time, without even thinking of it as particularly financial. But betting that something will decrease in value, that someone will fail, requires more complex instruments. You may think that your friend's younger cousin will eventually get fired from their paper route.
Then, suddenly, the idea of investing in GameStop took on a life of its own. Buying the stock became seen as a way to get revenge on the capitalists who were hoarding all the resources, and who thought they knew better than the rest of us. It was a whole mishmash of emotions. But solidarity among investors in the stock, on WallStreetBets and other social media platforms, created the discipline needed to execute the squeeze. And Reddit jargon was useful in maintaining this solidarity.
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