Dumb Money (2023): Is Gamestop Short Squeeze Happening Again?

Hello! It's been a while since I wrote about movies and shows, and I have an interesting movie to share today!

Two weeks ago, I was talking with a friend about the markets and the first thing that came to my mind was Gamestop! For those who weren't familiar, Gamestop became famous overnight thanks to a person who went by the nickname of Roaring Kitty back in 2021. And recently, he "re-appeared" on X/Twitter and the community went crazy once again. See the spike in the price during mid May? Of course, it was nothing as crazy as what happened in 2021, but it remains to be seen if this whole saga will repeat. As of today, the share price is still up 35% year to date, which is pretty significant.

Anyway, so my friend said I should go watch this movie called Dumb Money! Apparently, I didn't know they actually made a movie to document the chain of events that occurred during the 2021 short squeeze.

Being someone who has a keen interest on finance and the markets, I knew I had to watch it! 3 years has passed and much has been forgotten about this crazy period, but I think the events portrayed in the movie were pretty much consistent with my recollection.

Investment aside, the movie showed about wealth meant different things to different people. Some people are in it just for money and to get rich, but there are others who just want to support the movement and show their dissatisfaction with the system. Then there are those who were stuck in the poverty/debt cycle, struggling with university tuition fees, or just trying to making ends meet, and having such an "opportunity" gives them hope that they could break free from that vicious cycle.

Whether people see it such behaviour as investment or gambling (e.g. lottery), I think at the crux of the issue is, the wealth inequality in the society. The man on the street works hard and merely gets by with life, while "the rich get richer" because some of them have rich friends or good connections.

For me, even though I am not American, this movie provides a lot of food for thought about how diverse our society is. Everyone has their own ambitions and aspirations, and at the same time, everyone has their own struggles and challenges to handle, regardless whether we are rich or poor.

The movie also made me realise that we needed to more open-minded, to accept different perspectives, be willing to agree to disagree, and sometimes, it's just good enough give our moral support and cheer our loved ones on for their passions. Let's all be nicer to everyone.

I might be biased because of my interest in this genre, but I have to say that the acting wasn't the focus in this movie because I guess the main message was to showcase the chain of events. I think that's fine. And that's why I would give it a very decent 4 out of 5 stars for all the depiction of the realities in the society. Will there another Gamestop short squeeze in 2024? No one knows for sure, but rest assured I will be watching from the sidelines for any drama in the financial markets. Hehe!

Rating: 4 out of 5 stars

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