MarketDumb Money
Company Profile

Dumb Money

Dumb Money is a 2023 American biographical comedy-drama film, directed by Craig Gillespie and written by Lauren Schuker Blum and Rebecca Angelo. It is based on the 2021 book The Antisocial Network by Ben Mezrich and chronicles the GameStop short squeeze of January 2021. The film features an ensemble cast that includes Paul Dano, Pete Davidson, Vincent D'Onofrio, America Ferrera, Nick Offerman, Anthony Ramos, Sebastian Stan, Shailene Woodley, and Seth Rogen.

Plot
Keith Gill is a middle-class man working as a financial analyst in Brockton, Massachusetts. During his spare time, he regularly frequents the stock market subreddit r/WallStreetBets, posting his opinions via YouTube live streams under the name Roaring Kitty. He struggles to provide for his family, and his brother Kevin constantly mocks his YouTube work as nerdy garbage. In July 2020, at the height of the COVID-19 pandemic, Keith notices that video game retailer GameStop's stock is falling. He sinks his life savings into buying stock in it, regularly live-streaming updates with his viewers. Despite Kevin and several peers claiming this is a waste of time, by January 2021, activity on r/WallStreetBets reveals that several hedge fund investment firms, including Melvin Capital Management and its founder Gabe Plotkin, have been short selling stock in the chain on the assumption GameStop would close. But, aggressive GameStop stock purchases by Keith and other online stock buyers – including struggling nurse Jennifer, GameStop retail employee Marcos, and lesbian University of Texas at Austin couple Riri and Harmony – caused a mass increase in GameStop's overall stock price. As a result, Plotkin and other investment CEOs lost hundreds of millions of dollars within the same time frame. Keith is heralded as a financial guru. Things take a turn when r/WallStreetBets is temporarily shut down for "inflammatory and vulgar content", causing a mass surge of panic selling in GameStop's stock in an attempt to beat a perceived price drop. When the commission-free stock trading website Robinhood is unable to pay the money for the sales adequately, co-chairman Vlad Tenev, at the behest of Citadel LLC owner Ken Griffin, halts all purchasing of GameStop's stock until Robinhood shores up adequate capital to cover outstanding NSCC requirements created due to the level of purchases. They raise the $3–4 billion necessary, but the subsequent negative backlash results in an investigation by the United States House Committee on Financial Services, with Tenev, Griffin, Plotkin, and Keith all being subpoenaed, the former three for their roles in the fiasco and the latter on suspicion of using the situation to trick the public into making himself rich. As the investors struggle to defend their actions, Keith adamantly denies any wrongdoing, stating he was only doing what anyone with a passing awareness of investment banking would do in that situation. In the aftermath, post text shows how several of the individuals were affected: Plotkin was forced to shut down Melvin Capital because of the net losses the incident caused; Robinhood was the target of several lawsuits following the fiasco and wound up starting in the stock market significantly lower than it was prior; Harmony was able to use the money she obtained to pay off her family's debt issues and continues her relationship with Riri; Marcos sold half of his GameStop stock and quit his position in the company; Jennifer remains in debt but has retained her shareholding; Keith retired from YouTube in late April to get out of the public eye and sold part of his stocks to get Kevin an expensive car as a way to stop his nagging about how he will not loan him his car for his food deliveries. ==Cast==
Production
Development In January 2021, it was announced that Metro-Goldwyn-Mayer Pictures (MGM) had bought the rights to a book proposal by Ben Mezrich about the then-recent GameStop short squeeze, entitled The Antisocial Network, with producers Michael De Luca—who also produced The Social Network (2010), the film adaptation of Mezrich's book The Accidental Billionaires—and Aaron Ryder attached. Filming Principal photography occurred in New Jersey from October to November 2022. Filming was done in Morris, Essex and Hudson counties, with scenes filmed at Saint Elizabeth University. ==Music==
Music
Composed by Will Bates, the soundtrack was released on September 22, 2023. ==Release==
Release
Dumb Money premiered at the Toronto International Film Festival on September 8, 2023, with the cast unable to attend due to the 2023 SAG-AFTRA strike. It was released theatrically in the United States by Sony Pictures Releasing under the Columbia Pictures and Stage 6 Films labels, while Sony, Black Bear International and other local distributors released it internationally. A release date of October 20, 2023, was initially announced, before being moved up to September 22, 2023. It was later changed to a limited theatrical release on September 15, 2023, before expanding to a wide release on September 29, 2023. Dumb Money was released on digital platforms on November 7, followed by a Blu-ray and DVD release on December 12. == Reception ==
Reception
Box office Dumb Money has grossed $13.9 million in the United States and Canada and $6.8 million in other territories, for a total of $20.7 million worldwide. Expanding to 616 theaters in its second weekend, the film made $2.4 million, finishing in eighth. In its third weekend the film made $3.3 million from 2,837 theaters, finishing in seventh. It then made $2.1 million and $930,000 in the subsequent two weekends. Critical response Accolades ==References==
tickerdossier.comtickerdossier.substack.com