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Downloaded from
YTS.MX

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Official YIFY movies site:
YTS.MX

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[DIGITAL SOUNDS]

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DIRECTOR:All right, Sir
Jackalot,

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00:00:18,318 --> 00:00:22,054
if you were making a filmabout
WallStreetBets,

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what's the story to you?

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- [SIGHS]

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I think the story is abouta
group of idiots,

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a very large group of idiots,

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who just got fed upwith the
world,

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00:00:41,574 --> 00:00:43,075
got fedup with being told

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go to college,get a job, make a
living.

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00:00:47,681 --> 00:00:49,214
Frankly,that's just not
realistic

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for our generation.

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00:00:52,686 --> 00:00:54,486
You know,it is really
frustrating.

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00:00:54,521 --> 00:00:57,423
The boomers,they think we're
lazy.

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00:00:57,457 --> 00:00:58,724
You know the whole term,

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00:00:58,758 --> 00:01:00,759
pull up your bootstrapsand work
hard

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00:01:00,794 --> 00:01:03,095
and you get the same lifethat
they had?

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00:01:03,129 --> 00:01:04,430
No.

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The world is very,very
different these days.

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Hell, the next pandemicin 2025

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might wipe us all out anyways.

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00:01:12,539 --> 00:01:15,274
I ain't got timeto wait for
retirement.

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00:01:15,308 --> 00:01:19,078
You got to will itinto
existence.

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00:01:19,079 --> 00:01:22,948
Life's just not fair.The world
is a harsh place

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00:01:22,982 --> 00:01:28,821
and the stock market was
justthe purest form of YOLO.

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[MUSIC PLAYING]

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REPORTER: Stocks up againthis
morning, 12%.

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Short sellerscontinue to get
hurt

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by the thread WallStreetBets

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and other retail--

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[INTERPOSING VOICES]

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REPORTER: All this whiningby
Wall Street,

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00:01:39,466 --> 00:01:40,766
it's making me sick.

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00:01:40,800 --> 00:01:43,836
REPORTER: This is
populismcoming for capitalism.

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GameStop.

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00:01:53,913 --> 00:02:02,187
GameStop.

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00:02:02,222 --> 00:02:08,360
MATT KELLY: On surface,I can be
pretty scattered.

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00:02:08,395 --> 00:02:11,730
In the water, though,it's
calming for me,

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because you're seeing out ofa
little hole, right,

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00:02:13,533 --> 00:02:17,670
and everything is quiet.

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00:02:17,704 --> 00:02:21,073
You hear your bubbles.You hear
breathing.

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00:02:21,107 --> 00:02:25,978
And you just hear the
wateraround you, right?

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I don't give a shitabout risk.

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[LAUGHS]

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[EXPLOSION]

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I was deployed tothe Middle
East.

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We were doing
anti-terrorismforce protection,

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00:02:35,789 --> 00:02:37,923
so looking forunderwater IEDs,

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00:02:37,957 --> 00:02:41,760
things like that.

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00:02:41,795 --> 00:02:43,495
I found outI had a brain
injury.

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So basically, I havea cyst on
my brain

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that was expanding and

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contracting during allmy dives
all the time.

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And I didn't know that.

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Nobody knew that, right,until I
lost consciousness.

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And things kind of startedto go
south

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for me after that,

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like just like kind
ofdeteriorating mentally.

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I was having troubledoing
anything, you know.

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00:03:01,414 --> 00:03:04,450
And then I was drinkinglike a
fish to kind of--

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right, that makes itbetter or
worse.

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[LAUGHS]

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REPORTER: --experts
reportedlyfound a new
coronavirus

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that traces backto the outbreak

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that we are seeing in Wuhan.

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CHRIS GARCIA:I had just
actually bought

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the family businessfrom my dad.

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I purchased GSP Studio,which is
Garcia's School

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andSports Photography.

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- Smile at the camera.

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CHRIS GARCIA:I was looking
forward to 2020

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and beyond with the business.

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Our spring season is justabout
to kick off, right?

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00:03:31,478 --> 00:03:34,246
School pictures,baseball
picture day,

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00:03:34,280 --> 00:03:38,150
softball picture day.And you
know, March hits.

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REPORTER: Wall Street,

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and there are fearsthat the DOW
will drop,

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and drop quickly.We're already
seeing that.

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REPORTER: More than 20%.

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CHRIS GARCIA:I remember,
literally,

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on a Friday night,

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00:03:47,093 --> 00:03:49,795
I'm preparing for a
baseballshoot the next morning.

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And 8 o'clock atnight,

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I get that phone call.

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Hey, we gotto cancel the shoot.

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And it's like domino effect.The
next thing I know,

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like my entire spring is gone.

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REPORTER: America has passedthe
grim milestone.

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00:04:01,441 --> 00:04:02,608
REPORTER:They are saying we are

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00:04:02,642 --> 00:04:04,043
on the vergeof a medical
disaster.

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00:04:04,044 --> 00:04:05,144
[CLANGING]

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REPORTER:Millions of Americans

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00:04:06,379 --> 00:04:08,147
are sheltering at home,with the
nation's economy

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almost at a virtualstandstill.

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- My mother wasa tax
accountant.

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So my whole life it was
like,you got to save money.

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Got to save money.Got

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00:04:16,122 --> 00:04:19,058
to save money,which means I
didn't.

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[LAUGHS]

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I don't havea savings account.

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I have a little bit,but for all
the years

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I've been alive,it should be
more.

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So I make enough moneyto pay my
rent,

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but when everything went away

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it's kind of likemy rent still
is due

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00:04:35,175 --> 00:04:36,542
but I'm on unemployment,

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and the numbersjust didn't add
up.

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Reality hit a little bit,and I
was like,

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00:04:42,649 --> 00:04:43,882
OK, like we need

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to figure out a wayto save some
money

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00:04:46,219 --> 00:04:47,653
and make some money.

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And that's whenI got into
investing,

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because Iwas just trying to
figure out

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how to makesome money back, so.

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REPORTER:Late last night the
Senate

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00:04:56,396 --> 00:04:58,797
passed a $2 trillionstimulus
package that will--

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00:04:58,832 --> 00:05:00,232
REPORTER: Biggest bailoutin
American history.

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00:05:00,266 --> 00:05:01,500
REPORTER: Economic activity.

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00:05:01,534 --> 00:05:02,701
REPORTER:Close their
businesses,

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00:05:02,736 --> 00:05:04,303
staying home from work.

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MAN (ON VIDEO GAME):Primary
objective complete.

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CHRIS GARCIA:I got really good

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at "Call of Duty" in April.

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Shoot, I even caught
myselfwatching novelas at one
point,

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you know,

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just to pass the time, dude.

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I was like, oh my god,Catrina,
what did you do?

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I didn't know what to do.

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You know, Iwent from working,

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owning a business,working 60,

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70, 80 hours a weekto I can't
do anything.

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And I thought, at the time,

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I had little extra moneyin the
savings account.

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So I thought, it's justsitting
there in

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the savings account.

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Let me see what it can doon the
market.

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Maybe if I'm smart,pull a
Warren Buffett move,

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00:05:34,067 --> 00:05:37,336
it'll take its timebut I'll get
some winners.

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00:05:37,370 --> 00:05:42,274
You never know untilyou play
the game, right?

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MATT KELLY:We had $1,000 to our
name.

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We were behind on rent.

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My car had justgotten
repossessed.

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I'm also working on

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getting my VA disabilityback
pay from 2015.

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Literally, two weeksafter I did
that,

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$100,000 shows up in my
bankaccount,

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and my jaw hits the floor.

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My wife and I are like,this is
life-changing.

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I'm already on Redditlooking
at,

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how do I invest a windfall?

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You know, you read 50,100
comments

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and you takelike the most
common one--

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"open a Roth IRA,""pay off your
vehicles,"

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"put the remainder of itin a
Vanguard

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00:06:16,776 --> 00:06:18,310
total market fund," right?

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At this point, I had
neverinvested anything, ever.

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- So I was spending every day

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just kind oflooking at numbers

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and seeing portfolioson the
phone.

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And it's like,OK, so Airbnb is,
like, $176.

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Under Armour is $17.

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And I'm looking at thesethings
and I'm like,

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well, what can Istart investing
in?

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MATT KELLY:I was on Reddit

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looking atall these different
things,

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and then I started comingacross
WallStreetBets.

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[TYPING NOISE]

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- So I'm on Reddit and it'slike
r/WallStreetBets,

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like the slash.

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And I'm like, well,what's
WallStreetBets?

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[MUSIC PLAYING]

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MAN:Dear viewer, do you money?

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Do you like money?Does your
money like money?

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Does your money want to
makesweet lovins with other
money

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00:07:15,068 --> 00:07:18,637
and have beautifulmoney babies?

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00:07:18,672 --> 00:07:20,472
Do you haveinvestment accounts
you don't

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understand or pay attention

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00:07:22,242 --> 00:07:24,443
to becauseyour meaningless desk
job

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is all the excitementyou need?

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Or are you atrader?

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[INTERPOSING VOICES]

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MATT KELLY:I loved the
sentiment

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00:07:36,756 --> 00:07:39,224
of WallStreetBets.I loved it.

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I was like,these guys are
fucking nuts.

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[MUSIC PLAYING]

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00:07:46,533 --> 00:07:49,735
MAN: In a small,exceptionally
unhelpful,

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00:07:49,769 --> 00:07:51,337
and irreverent cornerof the
internet,

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therein lies a battalionof
nihilistic

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00:07:53,206 --> 00:07:54,506
meme lords

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00:07:54,541 --> 00:07:57,209
who discuss their positionsand
strategies,

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00:07:57,243 --> 00:07:59,578
speculate and argueover the
markets moving,

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00:07:59,612 --> 00:08:01,680
and provide sage advice

195
00:08:01,715 --> 00:08:03,015
to the humble stock trader

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00:08:03,016 --> 00:08:05,551
who just so happens to
stumbleupon this fine
community.

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00:08:05,585 --> 00:08:07,419
(SINGING) WallStreetBets.

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- Hello.I am the Sir Jackalot.

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I'm here wearing a maskbecause
I'm a millionaire,

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00:08:14,194 --> 00:08:15,494
and I would like to
stayanonymous.

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MATT KELLY:I started telling my
friends,

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00:08:16,763 --> 00:08:18,530
I'm like, dude,this is a crazy
subreddit.

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00:08:18,565 --> 00:08:20,032
I mean, guys are making
money.They're also

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going broke.So if you like
risk--[LAUGHS]

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- I saw all the people
postinglike million dollar
gains

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00:08:26,773 --> 00:08:30,409
over the last year.I was like
this sounds

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00:08:30,443 --> 00:08:31,777
like my kind of place.

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00:08:31,811 --> 00:08:33,412
CHRIS GARCIA: You would seethe
success stories of dudes

209
00:08:33,446 --> 00:08:37,282
who made a random call andthey
came out with 100 grand.

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00:08:37,317 --> 00:08:39,585
- Nice. Well, he's goingto get
fucked on taxes.

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Have fun with that.

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00:08:40,920 --> 00:08:43,622
[MUSIC PLAYING]

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00:08:43,656 --> 00:08:48,060
WOMAN: A fucking bros'
club,which was kind of fun.

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00:08:48,061 --> 00:08:52,531
- I said words on there thatI
would never say in public.

215
00:08:52,565 --> 00:08:54,400
- And I'm hearing about likeall
these different lingos

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00:08:54,434 --> 00:08:55,634
that are kind of fun.

217
00:08:55,669 --> 00:08:57,469
I'm like, ooh, diamond hands,

218
00:08:57,504 --> 00:09:00,439
like paper hands.Like, I'm a
bro now.

219
00:09:00,473 --> 00:09:03,108
- The whole joke is,
like,diamond hands.

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00:09:03,143 --> 00:09:06,078
You just have to notreally
treat it like money.

221
00:09:06,112 --> 00:09:08,414
And that's when I took350K,

222
00:09:08,448 --> 00:09:11,784
and I just like YOLO'dthe fuck
out of it.

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SIR JACKALOT:If you're like me,

224
00:09:13,019 --> 00:09:16,021
you're watching every minuteof
your favorite stock

225
00:09:16,022 --> 00:09:18,023
during the day.You want to be
able to be

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00:09:18,024 --> 00:09:19,291
with your people,

227
00:09:19,325 --> 00:09:22,094
all screaming in terrorif
something falls.

228
00:09:22,128 --> 00:09:23,662
The stocks are going to go up.

229
00:09:23,697 --> 00:09:25,931
They're also going to go down.

230
00:09:26,032 --> 00:09:28,467
The important thingis just hold
on.

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00:09:28,501 --> 00:09:30,169
SIR JACKALOT:I got the memes.

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00:09:30,203 --> 00:09:31,770
I'm, like,put in rocket emojis

233
00:09:31,805 --> 00:09:34,039
when you thinkyou're going to
be rich.

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00:09:34,040 --> 00:09:36,175
Ape alone, weak.

235
00:09:36,209 --> 00:09:38,310
Apetogether, strong.

236
00:09:38,345 --> 00:09:41,680
[LAUGHS]It's so true.

237
00:09:41,715 --> 00:09:42,915
MIKEYMILLIONS:The ape is

238
00:09:42,949 --> 00:09:45,451
the unsophisticated
investor.You can go to
WallStreetBets,

239
00:09:45,485 --> 00:09:46,952
tell them thatyou're going to
buy shares

240
00:09:47,053 --> 00:09:48,153
of a dying company,

241
00:09:48,188 --> 00:09:51,256
and you willreceive accolades.

242
00:09:51,291 --> 00:09:52,458
KIRSTEN:At this point, I really
still

243
00:09:52,492 --> 00:09:56,362
had not a single amountof
technical analysis

244
00:09:56,396 --> 00:09:57,696
or able to doanything like that

245
00:09:57,731 --> 00:09:58,931
in the stock market.

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00:09:58,965 --> 00:10:01,166
But I knew, you know,buy low,
sell high.

247
00:10:01,201 --> 00:10:05,104
My name is Kirsten,and I am
Stonk Queen.

248
00:10:05,138 --> 00:10:07,673
WOMAN: So I'm learningall these
different things,

249
00:10:07,707 --> 00:10:10,309
and it's like, buy AMC.Buy
BlackBerry.

250
00:10:10,343 --> 00:10:12,378
Buy Bed, Bath, & Beyond.

251
00:10:12,412 --> 00:10:14,546
And it's popping.

252
00:10:14,581 --> 00:10:16,115
MATT KELLY: A lot of theseguys
are investing in NEO,

253
00:10:16,149 --> 00:10:17,483
and that wasthe first stock I
bought,

254
00:10:17,517 --> 00:10:19,051
and it went up to, like, $50.

255
00:10:19,085 --> 00:10:20,285
AndI'm like, oh, shit.

256
00:10:20,320 --> 00:10:21,553
I just made a bunchof money on
that.

257
00:10:21,588 --> 00:10:22,821
And then it went down.

258
00:10:22,856 --> 00:10:24,023
And then I was, like, sick.

259
00:10:24,057 --> 00:10:25,557
I was like, I don't knowwhat
the fuck I'm doing.

260
00:10:25,592 --> 00:10:26,992
I'm an idiot.And then it went
back up.

261
00:10:27,027 --> 00:10:28,327
I'm like, oh,I'm a genius.

262
00:10:28,361 --> 00:10:33,132
- [ROARS]

263
00:10:33,166 --> 00:10:34,466
SIR JACKALOT: Everywhere elseon
the internet,

264
00:10:34,501 --> 00:10:38,504
people are tryingto be their
best self.

265
00:10:38,538 --> 00:10:40,205
But on WallStreetBets,

266
00:10:40,240 --> 00:10:43,542
we just acknowledge,like, we're
just all idiots.

267
00:10:43,576 --> 00:10:53,619
[TYPING]

268
00:10:53,620 --> 00:11:07,333
[TYPING]

269
00:11:07,367 --> 00:11:08,901
STOCK EXPERT:WallStreetBets
came

270
00:11:08,935 --> 00:11:10,102
on our radar,

271
00:11:10,136 --> 00:11:11,603
and we first startedto talk
about it

272
00:11:11,638 --> 00:11:16,075
with Teslain the summer of
2020.

273
00:11:16,109 --> 00:11:18,544
WallStreetBets would makea meme
or a joke

274
00:11:18,578 --> 00:11:20,612
about somethingthat was
happening.

275
00:11:20,647 --> 00:11:23,082
Papa Elon on a rocketto the
moon,

276
00:11:23,083 --> 00:11:25,751
and Tesla's goingto $7,000 a
share, right?

277
00:11:25,785 --> 00:11:27,553
And the stockwould start to go
up

278
00:11:27,587 --> 00:11:29,855
as everyone jumped on board.

279
00:11:29,889 --> 00:11:32,224
That was the first real sign

280
00:11:32,258 --> 00:11:38,263
that the retail marketwas
having impact in a stock.

281
00:11:38,298 --> 00:11:39,932
- Well, thank youall very much.

282
00:11:39,966 --> 00:11:41,200
It's a very important day.

283
00:11:41,234 --> 00:11:44,903
I'll sign the single
biggesteconomic relief package

284
00:11:44,938 --> 00:11:46,138
in American history,

285
00:11:46,172 --> 00:11:48,807
and I must say, or anyother
package, by the way.

286
00:11:48,842 --> 00:11:50,542
STOCK EXPERT:Back in March of
2020,

287
00:11:50,577 --> 00:11:54,580
the market was crashing,and the
amount of money

288
00:11:54,614 --> 00:11:56,582
that the Federal Reservecame
with

289
00:11:56,616 --> 00:11:59,318
blew away anythingthat they had
ever provided.

290
00:11:59,352 --> 00:12:03,088
They gave more money in
2020than they had in 2008

291
00:12:03,123 --> 00:12:04,423
all the way up to 2020.

292
00:12:04,457 --> 00:12:06,825
They just floodedthe market
with cash

293
00:12:06,860 --> 00:12:08,127
and support to everybody.

294
00:12:08,161 --> 00:12:09,328
[APPLAUSE]

295
00:12:09,362 --> 00:12:11,230
REPORTER: The latest roundof
stimulus checks

296
00:12:11,264 --> 00:12:13,666
already starting to show upin
bank accounts.

297
00:12:13,700 --> 00:12:15,801
REPORTER: The stimulus
checksare coming.

298
00:12:15,835 --> 00:12:19,071
So the question now is,
what'sthe best thing to do with
it?

299
00:12:19,072 --> 00:12:20,773
STOCK EXPERT: The idea wasthat
the Federal Reserve

300
00:12:20,807 --> 00:12:22,441
is providingso much stimulus.

301
00:12:22,475 --> 00:12:24,076
There's these giantloan
programs.

302
00:12:24,077 --> 00:12:26,745
There's all of thismoney
flooding in.

303
00:12:26,780 --> 00:12:28,147
And a lot of peoplewere sitting
at home

304
00:12:28,181 --> 00:12:29,415
with nothing to do,

305
00:12:29,449 --> 00:12:31,250
and the stock marketwas open.

306
00:12:31,284 --> 00:12:32,685
They had a checkin their
pocket,

307
00:12:32,719 --> 00:12:34,186
and we're all backedby the
Federal Reserve.

308
00:12:34,220 --> 00:12:35,487
So you know,

309
00:12:35,522 --> 00:12:36,855
let's invest.

310
00:12:36,890 --> 00:12:38,123
Let's trade.

311
00:12:38,158 --> 00:12:42,361
[LIGHTS TURNING ON]

312
00:12:42,395 --> 00:12:45,597
- You ever thinkabout trading
stocks?

313
00:12:45,632 --> 00:12:47,299
[MUSIC PLAYING]

314
00:12:47,334 --> 00:12:50,502
Robinhood lets you tradestocks
with zero commission.

315
00:12:50,537 --> 00:12:53,205
That's right,commission-free.

316
00:12:53,239 --> 00:12:54,707
- Robinhood, making it easy

317
00:12:54,741 --> 00:12:56,375
for the average investorand
stuff.

318
00:12:56,409 --> 00:12:59,111
So cool, you know,because
granted, like nothing

319
00:12:59,112 --> 00:13:01,380
against Charles Schwabor any of
these other ones,

320
00:13:01,414 --> 00:13:03,048
but they just look likemy
father should be there,

321
00:13:03,049 --> 00:13:04,183
not me.

322
00:13:04,217 --> 00:13:05,651
- It couldn't be easierto make
a trade

323
00:13:05,685 --> 00:13:08,954
using the Robinhood app.I just
bought some stock.

324
00:13:09,055 --> 00:13:10,222
[LIGHTS TURNING OFF]

325
00:13:10,256 --> 00:13:13,726
- The user interfaceis idiot
proof.

326
00:13:13,760 --> 00:13:16,061
Example A right here.It makes
it fun, too.

327
00:13:16,062 --> 00:13:17,396
Like when you putmoney in or
you

328
00:13:17,430 --> 00:13:20,899
sell a stock, confetti falls.It
feels you're at a casino.

329
00:13:20,934 --> 00:13:23,168
- This is the first timein
history

330
00:13:23,203 --> 00:13:25,070
that somebody witha very small
amount of money

331
00:13:25,105 --> 00:13:26,638
can go get involved in thestock
market,

332
00:13:26,673 --> 00:13:27,873
however they want to.

333
00:13:27,907 --> 00:13:30,075
No account minimums.There's no
commissions.

334
00:13:30,110 --> 00:13:31,377
You have absolutefreedom.

335
00:13:31,411 --> 00:13:32,811
You can get approvedfor stock
options

336
00:13:32,846 --> 00:13:34,380
trading with $200in your
account.

337
00:13:34,414 --> 00:13:38,317
That is unheard of beforethings
like Robinhood.

338
00:13:38,351 --> 00:13:41,253
- You want to know
whatdisruption really looks
like?

339
00:13:41,287 --> 00:13:44,089
Well, you're looking at it.As
of today, 10 million people

340
00:13:44,090 --> 00:13:45,257
have accounts at Robinhood.

341
00:13:45,291 --> 00:13:47,726
REPORTER: The CEO ofRobinhood,
Vlad Tenev.

342
00:13:47,761 --> 00:13:49,094
- Vlad Tenev.

343
00:13:49,095 --> 00:13:52,931
- Vlad Tenev, who's the coCEOof
Robinhood.

344
00:13:52,966 --> 00:13:55,768
STOCK EXPERT: In 90 days,they
went from the 300

345
00:13:55,802 --> 00:13:58,871
most downloaded app onthe App
Store to number one.

346
00:13:58,905 --> 00:14:01,273
- We believe that the
morepeople that have access

347
00:14:01,307 --> 00:14:03,776
to the markets and can
startinvesting earlier,

348
00:14:03,810 --> 00:14:06,412
the better offour economy will
be.

349
00:14:06,446 --> 00:14:08,847
- So suddenly, instead
oflooking at TikTok and YouTube

350
00:14:08,882 --> 00:14:11,183
and Instagram, people
arelooking at Robinhood's

351
00:14:11,217 --> 00:14:12,551
trading application.

352
00:14:12,585 --> 00:14:14,286
- I have a little bitof
addictive personality.

353
00:14:14,320 --> 00:14:17,122
Sober-- we can go there.It's
not a secret.

354
00:14:17,157 --> 00:14:18,390
So it became, like,

355
00:14:18,425 --> 00:14:19,591
my fucking thing.

356
00:14:19,626 --> 00:14:20,859
CHRIS GARCIA:You start making
money,

357
00:14:20,894 --> 00:14:22,261
and all of a sudden,you start
seeing your account

358
00:14:22,295 --> 00:14:23,729
just boom,boom, boom, boom,

359
00:14:23,763 --> 00:14:28,100
boom. And you get hooked,real
quick and real fast.

360
00:14:28,134 --> 00:14:29,768
- It did feel a little bitlike
a game.

361
00:14:29,803 --> 00:14:33,105
And again, I'm a gamer.

362
00:14:33,139 --> 00:14:36,775
And when I started
withRobinhood, the first
stock--

363
00:14:36,810 --> 00:14:39,478
they give you a free stock.

364
00:14:39,512 --> 00:14:42,748
I guess, ironically,mine was
GameStop,

365
00:14:42,782 --> 00:14:45,818
which I was very, very upsetand
offended by

366
00:14:45,852 --> 00:14:56,228
at the time.

367
00:14:56,262 --> 00:14:57,963
DIRECTOR: Scoot over 1 inchto
your right, Alvan?

368
00:14:57,997 --> 00:14:59,264
There you go.

369
00:14:59,299 --> 00:15:01,600
And just real quick,tell me
what is JeffAmazon?

370
00:15:01,634 --> 00:15:02,901
What isthat name?

371
00:15:02,936 --> 00:15:04,169
How did you come up with it?

372
00:15:04,204 --> 00:15:09,508
- Yeah. JeffAmazon was reallyan
experiment, for me,

373
00:15:09,542 --> 00:15:14,246
to figure out if I couldcreate
an online persona

374
00:15:14,280 --> 00:15:16,315
that was sogood at trading

375
00:15:16,349 --> 00:15:19,618
that it would be interviewedin
a documentary.

376
00:15:19,652 --> 00:15:22,454
And it turned out to be true.

377
00:15:22,489 --> 00:15:32,264
[LAUGHS]

378
00:15:32,298 --> 00:15:38,437
There are alwaysmany different
forces

379
00:15:38,471 --> 00:15:41,340
in the stock market.

380
00:15:41,374 --> 00:15:46,645
So I guess if you couldimagine
a boat in the ocean,

381
00:15:46,680 --> 00:15:48,347
there's currents pushingagainst
you.

382
00:15:48,381 --> 00:15:51,383
There may be people
paddling.Maybe if you have a
sail,

383
00:15:51,418 --> 00:15:55,487
the wind can helpyou out.

384
00:15:55,522 --> 00:15:57,990
But whichever forceis the
strongest,

385
00:15:58,091 --> 00:15:59,858
that's the onethat matters the
most.

386
00:15:59,893 --> 00:16:02,494
[WAVES CRASHING]

387
00:16:02,529 --> 00:16:05,230
My game is asymmetricbetting--

388
00:16:05,265 --> 00:16:08,734
the ability to put ina small
amount of capital

389
00:16:08,768 --> 00:16:12,037
and to receive anextremely
large return.

390
00:16:12,038 --> 00:16:16,809
between 10 to 100to 1,000 times
returns.

391
00:16:16,843 --> 00:16:21,046
So what this meansis kind of
spotting bubbles.

392
00:16:21,047 --> 00:16:24,683
You have to basically
assessevery single possible
data

393
00:16:24,718 --> 00:16:28,854
point that exists,everything
from interest rates

394
00:16:28,888 --> 00:16:32,224
to retail sentiment.

395
00:16:32,258 --> 00:16:35,060
I was looking intothese
opportunities,

396
00:16:35,095 --> 00:16:39,732
and I thinkI had found one.

397
00:16:39,766 --> 00:16:41,667
GameStop jumped double digit

398
00:16:41,701 --> 00:16:44,670
percentages one random weekin
September.

399
00:16:44,704 --> 00:16:52,077
And I thought, wow,what's going
on with GameStop?

400
00:16:52,112 --> 00:16:56,081
GameStop is a brickand mortar
retail store

401
00:16:56,082 --> 00:16:58,350
that basically sellsconsole
games.

402
00:16:58,385 --> 00:17:02,855
It was a company that was
runfairly poorly.

403
00:17:02,889 --> 00:17:04,289
COMMENTATOR: It's kind ofa
failing company.

404
00:17:04,324 --> 00:17:05,924
It's like you canalmost compare
it

405
00:17:06,026 --> 00:17:07,192
to Blockbuster Video.

406
00:17:07,227 --> 00:17:09,728
Their business model isnot
really the best.

407
00:17:09,763 --> 00:17:11,363
ALVAN CHOW: I still thoughtthat
this was a dying

408
00:17:11,398 --> 00:17:12,865
brick and mortar store.

409
00:17:12,899 --> 00:17:14,767
People are definitelygoing to
go digital.

410
00:17:14,801 --> 00:17:16,035
But I looked into it

411
00:17:16,036 --> 00:17:19,038
and looked at everything onthe
internet about GameStop,

412
00:17:19,072 --> 00:17:22,875
and Roaring Kittywas one of
them.

413
00:17:22,909 --> 00:17:31,116
[MUSIC PLAYING]

414
00:17:31,151 --> 00:17:32,484
- Yo, what up, everybody?

415
00:17:32,519 --> 00:17:35,287
This is going to be the
firstvideo of the Kitty Corner.

416
00:17:35,321 --> 00:17:37,723
And the market has kind
offorced my hand on this one.

417
00:17:37,757 --> 00:17:40,259
The first stock that I'm
goingto talk about is GameStop.

418
00:17:40,293 --> 00:17:41,627
And I know it's a
polarizingstock.

419
00:17:41,661 --> 00:17:43,495
Some people won't even tuneinto
the stream right now

420
00:17:43,530 --> 00:17:46,165
when they hear thatI'm bullish
on GameStop.

421
00:17:46,199 --> 00:17:48,233
ALVAN CHOW: I thought he wasone
of these crazy guys,

422
00:17:48,268 --> 00:17:50,669
with a cat as a logo,

423
00:17:50,704 --> 00:17:53,339
and there's nothingabout his
background.

424
00:17:53,373 --> 00:17:55,074
But I figured out thathe was
also

425
00:17:55,108 --> 00:17:57,843
an extremely prudent,

426
00:17:57,877 --> 00:18:00,312
responsible,knowledgeable
investor.

427
00:18:00,347 --> 00:18:02,414
- GameStop is the only brickand
mortar store

428
00:18:02,449 --> 00:18:03,749
dedicated to gaming.

429
00:18:03,783 --> 00:18:05,617
Suppose over the next
year,management

430
00:18:05,652 --> 00:18:08,020
can craft a narrativethat
carves out a 2%

431
00:18:08,054 --> 00:18:12,024
share of that rapidly
growing$150 billion gaming
industry.

432
00:18:12,025 --> 00:18:13,625
One of themost exciting--

433
00:18:13,660 --> 00:18:15,627
KIRSTEN: I fully
understoodwhere he was coming
from,

434
00:18:15,662 --> 00:18:17,496
because I mean, it wasactually
technical analysis,

435
00:18:17,530 --> 00:18:18,764
in my opinion,

436
00:18:18,798 --> 00:18:22,034
but it was just
totallydifferent type of
analysis

437
00:18:22,035 --> 00:18:25,037
on trades than the typicalsuits
were looking at.

438
00:18:25,071 --> 00:18:28,640
- I actually went on oneof
Roaring Kitty's streams

439
00:18:28,675 --> 00:18:31,143
and just started doinga lot
more research.

440
00:18:31,177 --> 00:18:32,378
And then Ryan Cohen

441
00:18:32,412 --> 00:18:38,150
announced his stake of 9%.

442
00:18:38,184 --> 00:18:41,353
Ryan Cohen isthe founder of
Chewy.

443
00:18:41,388 --> 00:18:42,654
It's the only companythat went
head to

444
00:18:42,689 --> 00:18:45,324
head with Amazonand just ate
their lunch.

445
00:18:45,358 --> 00:18:48,460
- This dude knows his shitin
the e-commerce world.

446
00:18:48,495 --> 00:18:52,231
He does kind of seem likehe's
forward-thinking.

447
00:18:52,265 --> 00:18:53,465
ALVAN CHOW:After that, I was

448
00:18:53,500 --> 00:18:55,801
just in
fullinformation-gathering mode.

449
00:18:55,835 --> 00:18:57,069
KEITH GILL:Hey, JeffAmazon.

450
00:18:57,070 --> 00:18:58,237
Welcome back, Jeff.Welcome
back.

451
00:18:58,271 --> 00:18:59,405
ALVAN CHOW:We were just getting
to

452
00:18:59,439 --> 00:19:00,673
really know the company.

453
00:19:00,707 --> 00:19:01,874
- There's so muchnegative
commentary.

454
00:19:01,908 --> 00:19:03,175
I just thinkthat this sentiment

455
00:19:03,209 --> 00:19:04,376
is so negativethat it's
overdone.

456
00:19:04,411 --> 00:19:05,678
That's what I'm trying

457
00:19:05,712 --> 00:19:06,912
to get at in this section.

458
00:19:07,013 --> 00:19:08,180
MATT KELLY:I saw a post

459
00:19:08,214 --> 00:19:09,882
from Michael Burry.I knew who
Michael Burry was.

460
00:19:09,916 --> 00:19:12,518
I've seen "The Big Short."There
was an article

461
00:19:12,552 --> 00:19:15,187
about him investingin GameStop.

462
00:19:15,221 --> 00:19:16,422
I can see whypeople think
GameStop

463
00:19:16,456 --> 00:19:17,656
is going to goout of business.

464
00:19:17,691 --> 00:19:18,857
Like it makes sense

465
00:19:18,892 --> 00:19:20,092
that they're goingout of
business,

466
00:19:20,126 --> 00:19:23,028
but they seemto be making some
plays.

467
00:19:23,029 --> 00:19:24,263
ALVAN CHOW:And then I just
noticed

468
00:19:24,297 --> 00:19:26,432
this extremelyastounding
figure,

469
00:19:26,466 --> 00:19:30,602
the 140%short interest figure.

470
00:19:30,637 --> 00:19:36,508
SIR JACKALOT: 140%
shortinterest ratio on one
stock.

471
00:19:36,543 --> 00:19:40,112
That means there are moreshorts
than shares that exist.

472
00:19:40,146 --> 00:19:41,680
[LAUGHS]

473
00:19:41,715 --> 00:19:44,283
All the shares outstanding

474
00:19:44,317 --> 00:19:45,851
for the companywere basically
shorted,

475
00:19:45,885 --> 00:19:50,289
which is absurdand
unprecedented.

476
00:19:50,323 --> 00:19:51,523
ALVAN CHOW:So I tried to look

477
00:19:51,558 --> 00:19:53,525
for a historical precedenton
what would happen

478
00:19:53,560 --> 00:19:56,095
if somethingwas over 100%
shorted,

479
00:19:56,129 --> 00:19:59,131
but there was nothing.

480
00:19:59,165 --> 00:20:00,566
STOCK EXPERT:When you sell
stocks short,

481
00:20:00,600 --> 00:20:02,935
you're betting that the
marketis going to go down.

482
00:20:02,969 --> 00:20:05,437
And if you're wrong,the stock

483
00:20:05,472 --> 00:20:07,473
can go up against youvery
sharply,

484
00:20:07,507 --> 00:20:10,809
and you have to close
thatposition, usually at a
loss.

485
00:20:10,844 --> 00:20:12,378
So you can see guyson
WallStreetBets

486
00:20:12,412 --> 00:20:13,746
who knew what they were doing.

487
00:20:13,780 --> 00:20:15,647
These guys are smart.They
understand,

488
00:20:15,682 --> 00:20:18,283
OK, we can get leverageon this
thing, right?

489
00:20:18,318 --> 00:20:21,086
I know that if we
gathertogether,

490
00:20:21,121 --> 00:20:23,756
there's a point here at whichwe
can really push

491
00:20:23,790 --> 00:20:25,758
against hedge funds enoughto
force them to cover.

492
00:20:25,792 --> 00:20:27,159
We can force the market.

493
00:20:27,193 --> 00:20:31,263
We can forcethis stock higher.

494
00:20:31,297 --> 00:20:33,165
- All these short sellersbuying
back their position

495
00:20:33,199 --> 00:20:34,600
drives the stock higher

496
00:20:34,634 --> 00:20:36,235
and squeezing outall the short
players

497
00:20:36,269 --> 00:20:42,074
from the market.That's a short
squeeze.

498
00:20:42,108 --> 00:20:43,809
- You've got to bereally greedy

499
00:20:43,843 --> 00:20:45,144
to keep shorting GameStop

500
00:20:45,178 --> 00:20:47,946
when it was at like $6a share
or something.

501
00:20:47,981 --> 00:20:50,983
Because that means if
you'reshorting at $6 a share,

502
00:20:51,017 --> 00:21:05,464
you're only profitingif it goes
below $6.

503
00:21:05,498 --> 00:21:09,168
It was a post by JeffAmazon,

504
00:21:09,202 --> 00:21:11,704
where he kind of laid outthe
GameStop thesis.

505
00:21:11,738 --> 00:21:13,072
- I wrote this post called

506
00:21:13,073 --> 00:21:16,141
"The Greatest Short Burnof the
Century."

507
00:21:16,176 --> 00:21:17,776
My brother, who's an actor,is
going to come

508
00:21:17,811 --> 00:21:18,977
and read it for me

509
00:21:19,079 --> 00:21:25,551
because it's too cringyfor me
to do it myself.

510
00:21:25,585 --> 00:21:29,521
- What's up,
gamblers?JeffAmazon here.

511
00:21:29,556 --> 00:21:33,092
Feel bad about missingthe gain
train on Tesla?

512
00:21:33,093 --> 00:21:35,961
Fear not. Somethingmuch
greater,

513
00:21:35,995 --> 00:21:40,099
and stupider, is here.You know
Citadel,

514
00:21:40,100 --> 00:21:42,301
the market makerthat took all
our money today?

515
00:21:42,335 --> 00:21:43,569
Now we finally

516
00:21:43,603 --> 00:21:46,972
won't be at the mercyof the
market makers.

517
00:21:47,007 --> 00:21:50,909
Instead, we're going
totemporarily join forces

518
00:21:50,944 --> 00:21:56,248
with the galactic empireand
hijack the death star.

519
00:21:56,282 --> 00:22:01,053
Our choice ofweapon, GameStop.

520
00:22:01,054 --> 00:22:06,692
GameStop. Three big thingswill
cause this--

521
00:22:06,726 --> 00:22:09,695
Ryan Cohen,retail option
buying,

522
00:22:09,729 --> 00:22:12,231
and marketmakers like Citadel.

523
00:22:12,265 --> 00:22:13,732
It looks like this.

524
00:22:13,767 --> 00:22:16,435
Retail Robinhooders buya ton of
call options.

525
00:22:16,469 --> 00:22:19,538
This will force market makersto
buy shares,

526
00:22:19,572 --> 00:22:21,440
increasing the priceeven more.

527
00:22:21,474 --> 00:22:24,109
Retail investors buyeven more
options, again,

528
00:22:24,144 --> 00:22:26,779
forcing the market makersto
purchase more shares,

529
00:22:26,813 --> 00:22:28,747
pressuring shorts to close.

530
00:22:28,782 --> 00:22:32,918
Institutional investorswill
catch wind and join in.

531
00:22:32,952 --> 00:22:35,888
GME heads to $400

532
00:22:35,922 --> 00:22:38,424
and we cash out.

533
00:22:38,458 --> 00:22:42,561
[MUSIC PLAYING]

534
00:22:42,595 --> 00:22:44,730
This one is specialbecause we
have math

535
00:22:44,764 --> 00:22:48,801
and great underlying news.To be
clear, this will happen

536
00:22:48,835 --> 00:22:50,869
whether ornot we participate,

537
00:22:50,904 --> 00:23:00,379
but I prefer usto be a part of
history.

538
00:23:00,413 --> 00:23:02,214
- It was a verycompelling
thesis.

539
00:23:02,248 --> 00:23:03,916
I had never seensomething like
this before.

540
00:23:03,950 --> 00:23:05,451
And you know,I'm no stranger to

541
00:23:05,485 --> 00:23:07,052
something calleda short
squeeze,

542
00:23:07,087 --> 00:23:08,287
where all these shorts,

543
00:23:08,321 --> 00:23:09,555
they've got to coveron top of
each other,

544
00:23:09,589 --> 00:23:10,789
and you know,

545
00:23:10,824 --> 00:23:12,057
the price shoots to the moon.

546
00:23:12,092 --> 00:23:16,228
But at the same time, it
alsohad a huge downside, right?

547
00:23:16,262 --> 00:23:17,463
- GameStop announced today

548
00:23:17,497 --> 00:23:19,465
it's closinghundreds of stores.

549
00:23:19,499 --> 00:23:20,666
REPORTER:GameStop, the biggest

550
00:23:20,700 --> 00:23:22,468
video gameretailer in the
world,

551
00:23:22,502 --> 00:23:25,104
announced today that it
willclose up to 200 stores

552
00:23:25,138 --> 00:23:26,405
by the end of the year.

553
00:23:26,439 --> 00:23:29,742
- That's pretty sad.- Like, it
could go bankrupt.

554
00:23:29,776 --> 00:23:42,821
That was alwayskind of the bear
case.

555
00:23:42,856 --> 00:23:44,189
MATT KELLY: My hunches
keptgetting confirmed,

556
00:23:44,224 --> 00:23:46,992
a little bit at a time.

557
00:23:47,093 --> 00:23:48,961
Most of my friends I wastelling
about it thought I was

558
00:23:48,995 --> 00:23:51,096
crazy.I was telling my friends

559
00:23:51,097 --> 00:23:52,364
who've been investedin a long
time.

560
00:23:52,399 --> 00:23:54,867
Like look, this is--I can
barely explain it.

561
00:23:54,901 --> 00:23:57,770
I sound like I'm some
QAnoninsane person.

562
00:23:57,804 --> 00:23:59,471
I'm like, yeah,there's this
guy, Ryan Cohen,

563
00:23:59,506 --> 00:24:02,041
who's like doing thisand that.

564
00:24:02,075 --> 00:24:04,309
And the shorting, I don't
evenknow if that means,

565
00:24:04,344 --> 00:24:07,379
but that's what is
happening.And they're like,
dude,

566
00:24:07,414 --> 00:24:11,316
you know.

567
00:24:11,351 --> 00:24:12,584
I go to my wife and I'm like,

568
00:24:12,619 --> 00:24:16,622
hey, I really think this
couldgo up to like 50 bucks or
so.

569
00:24:16,656 --> 00:24:18,490
It's at like $13 now.

570
00:24:18,525 --> 00:24:19,825
I thinkthat's like a given.

571
00:24:19,859 --> 00:24:21,694
I think that will happenfor
sure.

572
00:24:21,728 --> 00:24:23,729
I mean, maybe even $100.That
would be insane.

573
00:24:23,763 --> 00:24:24,963
I think I'm

574
00:24:25,065 --> 00:24:26,331
just going to put a halfof
everything in it.

575
00:24:26,366 --> 00:24:30,169
She's like, why don't youjust
go all in?

576
00:24:30,203 --> 00:24:33,305
I was like,what are you talking
about?

577
00:24:33,340 --> 00:24:34,740
She's like, well, if you
feelthis

578
00:24:34,774 --> 00:24:37,376
way, go all in, right?

579
00:24:37,410 --> 00:24:38,744
-You really do only live once.

580
00:24:38,778 --> 00:24:40,079
You only have one shot.

581
00:24:40,080 --> 00:24:42,381
So like you might as well
dosomething fucking crazy

582
00:24:42,415 --> 00:24:43,582
and memorable,

583
00:24:43,616 --> 00:24:45,651
because if it's crazyand
memorable,

584
00:24:45,685 --> 00:24:46,819
people remember that shit.

585
00:24:46,853 --> 00:24:49,755
Because if you do stuff,the
boring, bullshit,

586
00:24:49,789 --> 00:24:51,724
stupid ass waythat everyone
else does,

587
00:24:51,758 --> 00:24:53,559
you're going to lose andyou're
not going to make much

588
00:24:53,593 --> 00:24:58,263
and noone's going to care about
you.

589
00:24:58,298 --> 00:25:05,838
- It felt risky.

590
00:25:05,872 --> 00:25:08,273
I bought about2,300 shares of
GameStop.

591
00:25:08,308 --> 00:25:12,411
At $17 averageis about 45
grand.

592
00:25:12,445 --> 00:25:14,913
- The stock was about $6to $8,

593
00:25:14,948 --> 00:25:18,050
I believe,when I first bought
in.

594
00:25:18,051 --> 00:25:21,053
Ballpark, it wasaround $30,000.

595
00:25:21,054 --> 00:25:25,958
- I started investinglast year
with $40,000

596
00:25:26,059 --> 00:25:28,961
and ended up putting itall in
on GameStop.

597
00:25:29,062 --> 00:25:36,468
- 88,000 sharesat November 2020
at $13.

598
00:25:36,503 --> 00:25:38,404
I mean, you cando the math
yourself.

599
00:25:38,438 --> 00:25:41,073
I think that was close tolike
$1.1 million.

600
00:25:41,107 --> 00:25:53,919
So yeah, I was one ofthe first
whales in GameStop.

601
00:25:53,953 --> 00:25:55,120
MATT KELLY:I post my YOLO

602
00:25:55,155 --> 00:25:58,957
to WallStreetBets.Man, did I
get--

603
00:25:58,992 --> 00:26:01,026
I mean, it was all like,you're
a fucking idiot.

604
00:26:01,027 --> 00:26:02,161
The fuck is wrongwith you?

605
00:26:02,195 --> 00:26:03,395
[INTERPOSING VOICES]

606
00:26:03,430 --> 00:26:04,596
[MUSIC PLAYING]

607
00:26:04,631 --> 00:26:06,398
MAN (ON TV): --analysts

608
00:26:06,433 --> 00:26:17,276
in searchof asymmetric upside.

609
00:26:17,310 --> 00:26:18,911
If it isn't clear,I'm not
betting that GameStop

610
00:26:18,945 --> 00:26:20,112
is going to stage the

611
00:26:20,146 --> 00:26:22,281
most epic turnaroundof all
time.

612
00:26:22,315 --> 00:26:25,150
ALVAN CHOW: I was excitedwhen I
first got the idea.

613
00:26:25,185 --> 00:26:28,921
After that, I was kindof
annoyed [LAUGHS]

614
00:26:28,955 --> 00:26:30,322
for quite a while because it

615
00:26:30,357 --> 00:26:33,158
didn't happen the wayI expected
it to.

616
00:26:33,193 --> 00:26:34,493
[SIGH]

617
00:26:34,527 --> 00:26:36,328
[LAUGHS]

618
00:26:36,363 --> 00:26:38,797
- Oh, then historyin the
making.

619
00:26:38,832 --> 00:26:40,332
There was a lot of hypeleading
up

620
00:26:40,367 --> 00:26:42,501
to their earnings reportand
whether Ryan

621
00:26:42,535 --> 00:26:44,303
Cohen was goingto make a move
or not.

622
00:26:44,337 --> 00:26:47,506
[MUSIC-"THE FINAL COUNTDOWN"]

623
00:26:47,540 --> 00:26:50,709
MAN: Greetings, and welcometo
the GameStop

624
00:26:50,744 --> 00:26:55,948
third quarter2020 earnings
call.

625
00:26:55,982 --> 00:26:58,450
SIR JACKALOT: I rememberbeing
the cocky asshole,

626
00:26:58,485 --> 00:27:01,120
literally playing"The Final
Countdown,"

627
00:27:01,154 --> 00:27:03,389
the song, making sure I was

628
00:27:03,423 --> 00:27:06,025
physically readyfor an earnings
report.

629
00:27:06,026 --> 00:27:08,060
MAN: The call will
includeforward-looking
statements,

630
00:27:08,094 --> 00:27:10,562
which are subject to
variousrisks and uncertainties

631
00:27:10,597 --> 00:27:12,164
that couldcause actual results

632
00:27:12,198 --> 00:27:15,234
to differ materiallyfrom
expectations.

633
00:27:15,268 --> 00:27:17,636
- You know, you havelegendary
investors,

634
00:27:17,671 --> 00:27:19,405
like Michael Burryand Bill
Gross--

635
00:27:19,439 --> 00:27:20,706
- God.

636
00:27:20,740 --> 00:27:23,542
--watching the earnings call.

637
00:27:23,576 --> 00:27:25,411
MAN: We continue toreduce
expenses,

638
00:27:25,445 --> 00:27:28,580
delivering over $315 millionin
its expense reductions

639
00:27:28,615 --> 00:27:30,482
so far this year.

640
00:27:30,517 --> 00:27:32,051
And weare pleased to end the
quarter

641
00:27:32,085 --> 00:27:33,886
with almost $300 millionmore in
cash

642
00:27:33,920 --> 00:27:36,055
and restricted cashcompared to
the end of

643
00:27:36,056 --> 00:27:38,057
the prior year third quarter.

644
00:27:38,091 --> 00:27:39,425
SIR JACKALOT:And GameStop,

645
00:27:39,459 --> 00:27:41,427
it was shooting up.I was like,
this is it.

646
00:27:41,461 --> 00:27:43,529
This is the squeeze.This is
finally happening.

647
00:27:43,563 --> 00:27:45,764
I was, like,literally jumping
up and down.

648
00:27:45,799 --> 00:27:47,266
MAN: To summarizethe third
quarter,

649
00:27:47,300 --> 00:27:49,201
we believe the pandemic,and
importantly the--

650
00:27:49,235 --> 00:27:50,602
SIR JACKALOT: And a coupleof
months afterwards,

651
00:27:50,637 --> 00:27:51,837
it just starts tanking.

652
00:27:51,871 --> 00:27:53,172
I was like, oh, no.Oh, no.
What's this mean?

653
00:27:53,206 --> 00:27:54,373
What's this mean?

654
00:27:54,407 --> 00:27:56,375
MAN: We have closedalmost 800
stores worldwide

655
00:27:56,409 --> 00:27:57,676
since the beginning of 2019--

656
00:27:57,711 --> 00:27:59,778
- And it started tankingeven
more.

657
00:27:59,813 --> 00:28:01,113
And I was like, oh, fuck.

658
00:28:01,147 --> 00:28:04,383
MAN: --in an adjusted lossof
$0.53 per share.

659
00:28:04,417 --> 00:28:05,617
SIR JACKALOT:It crashed like--

660
00:28:05,652 --> 00:28:08,387
I don't know--15% to 20%
instantly.

661
00:28:08,421 --> 00:28:12,124
I was like, whoa, I just
lostsome serious money.

662
00:28:12,158 --> 00:28:14,760
ALVAN CHOW: They didn't
eventake a Q&A session.

663
00:28:14,794 --> 00:28:17,196
George Sherman,kind of a
boomer.

664
00:28:17,230 --> 00:28:19,098
Just read off his script.

665
00:28:19,132 --> 00:28:21,133
If they haddone anything,

666
00:28:21,167 --> 00:28:22,768
[LAUGHS]I think it would be
better.

667
00:28:22,802 --> 00:28:24,036
MATT KELLY:I'm buying Christmas
presents

668
00:28:24,070 --> 00:28:25,237
and stuff for the kids.

669
00:28:25,271 --> 00:28:26,438
And I'm kind ofgritting my
teeth.

670
00:28:26,473 --> 00:28:27,706
And at the same time,I'm having
to

671
00:28:27,741 --> 00:28:29,408
instill confidencein my wife,

672
00:28:29,442 --> 00:28:31,443
that like this isgoing to work
out.

673
00:28:31,478 --> 00:28:32,778
I'm not going to sellfor a
loss.

674
00:28:32,812 --> 00:28:36,715
Stocks only goup, right?

675
00:28:36,750 --> 00:28:38,951
- That's where I gota little
cold feet.

676
00:28:39,052 --> 00:28:40,719
Got some paper hands.

677
00:28:40,754 --> 00:28:43,889
I sold my sharesprobably
December, mid-

678
00:28:43,923 --> 00:28:49,762
December. 88,000 GameStopshares
at $15.

679
00:28:49,796 --> 00:29:01,240
Yeah, I was off by a month.

680
00:29:01,274 --> 00:29:14,920
[CHRISTMAS MUSIC]

681
00:29:15,021 --> 00:29:16,488
Welcome, boys and girls,

682
00:29:16,523 --> 00:29:19,625
to a Sir JackalotChristmas
carol.

683
00:29:19,659 --> 00:29:21,527
Gather around,my fellow
degenerates.

684
00:29:21,561 --> 00:29:22,761
Grab a mug ofeggnog

685
00:29:22,796 --> 00:29:25,431
and find a cozy cornerof your
mother's basement,

686
00:29:25,465 --> 00:29:28,834
and enjoy this taleof Sir
Jackalot.

687
00:29:28,868 --> 00:29:30,035
This post here is

688
00:29:30,070 --> 00:29:34,273
"My Magnum Dong Opus."

689
00:29:34,307 --> 00:29:37,443
Now listen, "my convictionfor
the GameStop

690
00:29:37,477 --> 00:29:39,111
mother of all short squeezes."

691
00:29:39,145 --> 00:29:41,547
The MOASS, it was insane.

692
00:29:41,581 --> 00:29:43,682
I had over a million
dollarsinvested in this.

693
00:29:43,717 --> 00:29:45,884
That's all my net worth.

694
00:29:45,919 --> 00:29:48,120
But that 20%earnings drop, oh,
man.

695
00:29:48,154 --> 00:29:49,355
Oh, man. It hurt.

696
00:29:49,389 --> 00:29:52,124
It really hurton a spiritual
level.

697
00:29:52,158 --> 00:29:56,061
It gave me Taco Belllevels of
stomach cramps.

698
00:29:56,062 --> 00:29:57,730
I felt like I neededto cool
down.

699
00:29:57,764 --> 00:29:59,365
You know, it was goingthrough
the holidays.

700
00:29:59,399 --> 00:30:01,800
There was a Britishvirus
mutation on the way.

701
00:30:01,835 --> 00:30:03,068
You got hedge funds

702
00:30:03,103 --> 00:30:05,838
manipulating stuff to gettheir
holiday bonuses.

703
00:30:05,872 --> 00:30:07,973
This all feltkind of dangerous.

704
00:30:08,008 --> 00:30:10,209
So yes, I ended upselling all
my

705
00:30:10,243 --> 00:30:13,479
GameStop shares at $15.50.

706
00:30:13,513 --> 00:30:16,015
Yes, I had a caseof paper
hands, I admit it.

707
00:30:16,049 --> 00:30:17,716
I was wallowing back and forth

708
00:30:17,751 --> 00:30:21,987
in fetal position all day.Good
fucking riddance, 2020.

709
00:30:22,022 --> 00:30:24,523
Let's all hope2021 will be
better, right?

710
00:30:24,557 --> 00:30:29,561
[PROTESTING]

711
00:30:29,596 --> 00:30:38,170
- USA. USA. USA. USA. USA.

712
00:30:38,204 --> 00:30:45,678
[MUSIC PLAYING]

713
00:30:45,712 --> 00:30:47,680
WOMAN: I think that
usMillennials realize

714
00:30:47,714 --> 00:30:53,118
that we were sold a
narrativethat wasn't ours.

715
00:30:53,153 --> 00:30:54,453
You know, they spoon-fedit to
us.

716
00:30:54,487 --> 00:30:57,022
Go to college.

717
00:30:57,057 --> 00:31:02,061
Work. Do this.You'll have a
great life.

718
00:31:02,095 --> 00:31:05,898
You just put our assesin a debt
system,

719
00:31:05,932 --> 00:31:12,738
then wonderwhy we're not happy.

720
00:31:12,772 --> 00:31:18,744
At 11, we had Columbine.Then we
had September 11th.

721
00:31:18,778 --> 00:31:22,147
Then we had like,what, Virginia
Tech?

722
00:31:22,182 --> 00:31:25,751
Then the stockmarket crash, the
bubble.

723
00:31:25,785 --> 00:31:31,957
We can't get jobs.A pandemic.

724
00:31:31,991 --> 00:31:34,259
Black Lives Matterwas
happening, too,

725
00:31:34,294 --> 00:31:36,729
and everyone'schecking in on
me.

726
00:31:36,763 --> 00:31:40,232
Are you OK? Are you OK?Are you
OK?

727
00:31:40,266 --> 00:31:43,102
And I'm like, are you OK?

728
00:31:43,103 --> 00:31:44,970
[MUSIC PLAYING]

729
00:31:45,005 --> 00:31:49,475
Like, this isn't new.It's new
for you.

730
00:31:49,509 --> 00:31:52,611
Then with the gaslightingfrom
the last president

731
00:31:52,645 --> 00:32:00,252
[LAUGHS]to the election.

732
00:32:00,286 --> 00:32:04,356
It's been like 99 lifetimesin a
year.

733
00:32:04,391 --> 00:32:08,160
I just think that we're
soldthese narratives about,
like,

734
00:32:08,194 --> 00:32:13,298
things that justaren't real.

735
00:32:13,333 --> 00:32:14,533
CHRIS GARCIA:The other big
thing, too,

736
00:32:14,567 --> 00:32:18,370
was about this time,my fiancée
was pregnant.

737
00:32:18,405 --> 00:32:20,205
So that was oneof those things
where it

738
00:32:20,240 --> 00:32:21,807
was like, oh, man,this
investing thing,

739
00:32:21,841 --> 00:32:23,075
I got to be smart about it

740
00:32:23,076 --> 00:32:24,443
because nowI got a baby coming.

741
00:32:24,477 --> 00:32:25,644
So this could

742
00:32:25,679 --> 00:32:28,781
be money to setaside for
formula

743
00:32:28,815 --> 00:32:31,650
or just doing the baby's
room,doing the floor to the
house--

744
00:32:31,685 --> 00:32:33,552
all these smallthings you hear
of, right?

745
00:32:33,586 --> 00:32:34,853
A baby is goingto change your
life.

746
00:32:34,888 --> 00:32:36,121
You need all this moneyfor
stuff.

747
00:32:36,156 --> 00:32:37,322
And I had no idea.

748
00:32:37,357 --> 00:32:42,227
I mean, I had a dog.

749
00:32:42,262 --> 00:32:43,495
KIRSTEN: When COVID did hit,

750
00:32:43,530 --> 00:32:46,465
my dad's bar and restauranthad
to be shut down.

751
00:32:46,499 --> 00:32:49,001
It was kind of scarybecause we
had no

752
00:32:49,102 --> 00:32:50,969
idea how longthis was going to
last.

753
00:32:51,004 --> 00:32:54,239
That's when I startedworking at
a grocery store.

754
00:32:54,274 --> 00:32:57,710
I was buying stocks duringthe
lunch break.

755
00:32:57,744 --> 00:33:00,379
I was like preparingfor the
absolute worst.

756
00:33:00,413 --> 00:33:01,880
And I was ableto help them out

757
00:33:01,915 --> 00:33:03,415
and obviously just belike
financially

758
00:33:03,450 --> 00:33:05,584
stable on my ownat this point,

759
00:33:05,618 --> 00:33:09,054
but I was down to $490in my
account.

760
00:33:09,089 --> 00:33:11,056
And I was like, shit.[LAUGHS]

761
00:33:11,057 --> 00:33:12,324
I might notbe good at this.

762
00:33:12,359 --> 00:33:20,766
MATT KELLY: The money, to
me,isn't an end all, be all.

763
00:33:20,800 --> 00:33:27,373
What money means to me is
itmeans escaping the rat race.

764
00:33:27,407 --> 00:33:30,843
It meansspending time with my
kids.

765
00:33:30,877 --> 00:33:33,212
I can not havethis constant
anxiety

766
00:33:33,246 --> 00:33:36,081
that I'm going to fail,

767
00:33:36,116 --> 00:33:40,085
that if I start to have
moreproblems with my brain,

768
00:33:40,086 --> 00:33:44,790
where I can't work,that my kids
will be OK,

769
00:33:44,824 --> 00:33:53,565
that we'll have somethingto
fall back on.

770
00:33:53,600 --> 00:33:54,933
REPORTER: Let's talk
aboutanother company, Jim,

771
00:33:54,968 --> 00:33:58,537
and that's GameStop.Is it too
late for GameStop?

772
00:33:58,571 --> 00:33:59,738
JIM CRAMER:I hate these guys.

773
00:33:59,773 --> 00:34:01,106
I've hated themfor a long time.

774
00:34:01,141 --> 00:34:03,742
Can GameStop fail?I think it
can.

775
00:34:03,777 --> 00:34:05,210
I think it canfall that much,

776
00:34:05,245 --> 00:34:07,212
and I wouldn't be around there

777
00:34:07,247 --> 00:34:10,115
trying to makesome money with
it.

778
00:34:10,150 --> 00:34:11,450
MATT KELLY:I'm really starting

779
00:34:11,484 --> 00:34:14,586
to doubt myself.I'm really
starting to doubt

780
00:34:14,621 --> 00:34:17,790
what I believedwas going to
happen,

781
00:34:17,824 --> 00:34:22,061
and theprice is falling.

782
00:34:22,095 --> 00:34:24,463
- In the middle of January,my
$30,000 investment

783
00:34:24,497 --> 00:34:26,832
had dropped downto around
$5,000.

784
00:34:26,866 --> 00:34:29,902
It went down a lot,
likebasically to $0.

785
00:34:29,936 --> 00:34:31,270
- There are a lot of people

786
00:34:31,304 --> 00:34:33,405
that are very bullishon this
stock,

787
00:34:33,440 --> 00:34:35,441
and the idea is thatit's a
turnaround play.

788
00:34:35,475 --> 00:34:37,076
- There are a lot of peoplethat
were bullish

789
00:34:37,110 --> 00:34:40,245
about the housing marketin
2006, 2007.

790
00:34:40,280 --> 00:34:42,114
There were a lot of peoplethat
were bullish about,

791
00:34:42,148 --> 00:34:44,450
you know, tulips backin the
1600s.

792
00:34:44,484 --> 00:34:45,617
I mean, just because--

793
00:34:45,652 --> 00:34:47,920
ALVAN CHOW: I thought I wasjust
going to lose it all

794
00:34:47,954 --> 00:34:50,589
and just have to start overand
keep [LAUGHS]

795
00:34:50,623 --> 00:34:52,791
working at my company
forlonger,

796
00:34:52,826 --> 00:34:56,261
because I had been
prolongingsome credit card
debt,

797
00:34:56,296 --> 00:35:00,099
and such, to play this.In fact,
I thought this was

798
00:35:00,133 --> 00:35:11,210
never going to happen.

799
00:35:11,244 --> 00:35:20,786
[BIRDS CHIRPING]

800
00:35:20,820 --> 00:35:22,187
ANDREW LEFT:We are always told
there's

801
00:35:22,222 --> 00:35:26,058
only two things that arefor
certain, death and taxes.

802
00:35:26,059 --> 00:35:27,359
There are actuallythree things

803
00:35:27,394 --> 00:35:31,864
that are for certain--death,
taxes, and innovation,

804
00:35:31,898 --> 00:35:34,867
and that's a good thing.When
you do innovate,

805
00:35:34,901 --> 00:35:36,168
there's someonewho has a
business

806
00:35:36,202 --> 00:35:38,370
who's being disrupted out.

807
00:35:38,405 --> 00:35:41,073
Case in point,
Netflix.Everybody remembers

808
00:35:41,074 --> 00:35:43,342
when Netflix usedto send disks
in the mail.

809
00:35:43,376 --> 00:35:44,643
Netflix quickly realized,

810
00:35:44,678 --> 00:35:46,211
and probably made one ofthe
greatest pivots

811
00:35:46,246 --> 00:35:47,780
in corporate history

812
00:35:47,814 --> 00:35:50,315
and became this
wonderfulstreaming service.

813
00:35:50,350 --> 00:35:52,351
Then when they becamethe
streaming service,

814
00:35:52,385 --> 00:35:53,552
who suffered from it?

815
00:35:53,586 --> 00:35:55,988
Blockbuster Video.They didn't
do that.

816
00:35:56,089 --> 00:35:57,556
Blockbuster Videocould have
also done

817
00:35:57,590 --> 00:35:59,658
what Netflix has done. And
nowthey're out of business.

818
00:35:59,693 --> 00:36:01,627
So if you were
shortingBlockbuster Video,

819
00:36:01,661 --> 00:36:03,495
doesn't mean you'rea bad person
or you

820
00:36:03,530 --> 00:36:08,534
hated on Blockbuster,but you
understood innovation.

821
00:36:08,568 --> 00:36:09,835
If every corporate CEO

822
00:36:09,869 --> 00:36:11,670
right nowknew that they could
do

823
00:36:11,705 --> 00:36:13,205
nothing and their stockwould go
a lot higher,

824
00:36:13,239 --> 00:36:14,473
they could sell it,

825
00:36:14,507 --> 00:36:17,876
they wouldn't do
anything,right?

826
00:36:17,911 --> 00:36:20,346
Most Wall Street researchwas
tied to companies

827
00:36:20,380 --> 00:36:21,547
that someone hada vested
interest

828
00:36:21,581 --> 00:36:23,849
in making relationships.

829
00:36:23,883 --> 00:36:25,517
We're not Citibank.We're not
Goldman Sachs.

830
00:36:25,552 --> 00:36:30,389
You don't have to play nice.

831
00:36:30,423 --> 00:36:32,658
In 2008,where was the research
to

832
00:36:32,692 --> 00:36:35,594
tell us stocks can go lower?

833
00:36:35,628 --> 00:36:37,763
Wall Street doesn'tput out that
research.

834
00:36:37,797 --> 00:36:40,499
Short sellers do,activist short
sellers.

835
00:36:40,533 --> 00:36:42,601
DIRECTOR:Talk about--

836
00:36:42,635 --> 00:36:45,270
- Hold on.Am I this boring to
you?

837
00:36:45,305 --> 00:36:47,239
I'd just love to know
whatyou're doing on your phone.

838
00:36:47,273 --> 00:36:49,074
- I'm just sending a text.-
Really?

839
00:36:49,075 --> 00:36:51,777
I'd just love to knowwho you're
texting.

840
00:36:51,811 --> 00:36:53,612
I'd just love to knowif I'm
this boring to you.

841
00:36:53,646 --> 00:36:55,080
- You're not boring.I'm
listening.

842
00:36:55,081 --> 00:36:56,281
- Fucking guy flies infrom New
York.

843
00:36:56,316 --> 00:36:57,516
I'm this boring to you.

844
00:36:57,550 --> 00:36:59,752
- Dad.- OK, I'm just asking.

845
00:36:59,786 --> 00:37:01,020
This should be a documentary.

846
00:37:01,021 --> 00:37:02,688
A documentary really would
be,how I could be--

847
00:37:02,722 --> 00:37:04,056
- Oh, he's the Citron guy.

848
00:37:04,090 --> 00:37:05,357
DIRECTOR: Yeah.

849
00:37:05,392 --> 00:37:06,859
- Oh, yeah, yeah.I know exactly
who he is.

850
00:37:06,893 --> 00:37:08,560
Shitron, we call it.

851
00:37:08,595 --> 00:37:10,929
The whole point of thatcompany
is to make money

852
00:37:11,031 --> 00:37:12,464
shorting stocks.

853
00:37:12,499 --> 00:37:15,701
They'll short a stock, thenput
out a hit piece on it,

854
00:37:15,735 --> 00:37:16,935
hoping that the stock tanks

855
00:37:17,037 --> 00:37:18,437
and they wereable to make money
that way.

856
00:37:18,471 --> 00:37:19,772
- Go to the mall today.

857
00:37:19,806 --> 00:37:21,473
Walk into Banana Republic.Walk
into Gap.

858
00:37:21,508 --> 00:37:22,908
REPORTER: What's yourprice
target, by the way?

859
00:37:22,942 --> 00:37:25,077
- You could swing an
umbrellaand not hit anyone.

860
00:37:25,111 --> 00:37:26,278
I don't think investors

861
00:37:26,312 --> 00:37:27,746
actually knowwhat they're
buying.

862
00:37:27,781 --> 00:37:30,115
- Whatever. Peloton.[SNORTS]

863
00:37:30,150 --> 00:37:31,483
- Is thatyour entire business?

864
00:37:31,518 --> 00:37:32,751
You are a short seller.

865
00:37:32,786 --> 00:37:35,454
That's all you do?You bet
against something?

866
00:37:35,488 --> 00:37:37,923
- So I look to make moneyin the
stock markets,

867
00:37:37,957 --> 00:37:41,293
you know, any which way I
can.My specialty is short
selling.

868
00:37:41,327 --> 00:37:44,129
Next thing I know this yearI
put myself pretty much

869
00:37:44,164 --> 00:37:47,333
in the middle of the
wholeGameStop phenomenon,

870
00:37:47,367 --> 00:37:50,302
unknowingly.So it is what it
is.

871
00:37:50,337 --> 00:37:51,503
- Andrew Left of Citron

872
00:37:51,538 --> 00:37:58,444
wanted to do a littleresearch
video on GameStop.

873
00:37:58,478 --> 00:38:00,813
- Hey, this is AndrewLeft at
Citron Research,

874
00:38:00,847 --> 00:38:04,650
giving you five reasonswhy
GameStop is going to $20.

875
00:38:04,684 --> 00:38:06,285
- And so I was very curiousto
watch it.

876
00:38:06,319 --> 00:38:07,920
I wanted to learnhow I was
wrong.

877
00:38:08,021 --> 00:38:11,156
I was always lookingfor
information to

878
00:38:11,191 --> 00:38:14,159
prove my thesis wrongso that I
could exit a trade.

879
00:38:14,194 --> 00:38:17,763
- Numbers don't lie.People lie.

880
00:38:17,797 --> 00:38:20,833
I know, everyone on
Twitternever has a losing
trade.

881
00:38:20,867 --> 00:38:23,102
Everyone on Reddit is amarket
genius.

882
00:38:23,136 --> 00:38:24,803
I hear it all the time.

883
00:38:24,838 --> 00:38:26,505
- He went through all ofhis
talking points,

884
00:38:26,539 --> 00:38:31,210
which were kind of bullshit.

885
00:38:31,244 --> 00:38:32,845
- Your first question you
haveto ask yourself is,

886
00:38:32,879 --> 00:38:34,279
why is therehigh short
interest?

887
00:38:34,314 --> 00:38:36,281
This is a failing
mall-basedretailer.

888
00:38:36,316 --> 00:38:39,051
Their current businessis just
drowning.

889
00:38:39,052 --> 00:38:40,285
You cannot argue.

890
00:38:40,320 --> 00:38:44,056
- And I've never seenany
reaction like that.

891
00:38:44,057 --> 00:38:46,392
All of a sudden, we're
buyingGameStop because Andrew
Left

892
00:38:46,426 --> 00:38:47,626
posted this.

893
00:38:47,660 --> 00:38:50,062
- You can get mad.You can hack
my account.

894
00:38:50,063 --> 00:38:52,498
You can go to Twitter.You can
sign on.

895
00:38:52,532 --> 00:38:53,799
You can call me everyname.

896
00:38:53,833 --> 00:38:56,669
If you want to savethe company,
take your energy,

897
00:38:56,703 --> 00:38:59,471
go out there,and actually buy
something

898
00:38:59,506 --> 00:39:01,006
from GameStop.

899
00:39:01,041 --> 00:39:03,909
- Andrew Leftof Citron
Research.

900
00:39:04,010 --> 00:39:05,377
Reactions, desk?

901
00:39:05,412 --> 00:39:11,583
- [HUMMING "WOLF OF WALL
STREET" MONEY CHANT]

902
00:39:11,618 --> 00:39:18,357
[MUSIC - "WOLF OF WALL STREET"
MONEY CHANT]

903
00:39:18,391 --> 00:39:20,759
A day after Left postedthat
video,

904
00:39:20,794 --> 00:39:26,265
GameStop went from $43to $65 a
share.

905
00:39:26,299 --> 00:39:36,508
[MUSIC CONTINUNG]

906
00:39:36,543 --> 00:39:40,045
In addition to that,Ryan Cohen
joined the board.

907
00:39:40,080 --> 00:39:42,715
REPORTER: Shares of
GameStopsoaring after
announcing

908
00:39:42,749 --> 00:39:44,383
Chewy former CEO Ryan Cohen.

909
00:39:44,417 --> 00:39:46,452
- Cheers to Ryan Cohen.This is
sick.

910
00:39:46,486 --> 00:39:47,753
REPORTER:Stock, an unbelievable

911
00:39:47,787 --> 00:39:50,356
jump,60% high today.

912
00:39:50,390 --> 00:39:52,358
REPORTER:Citron and Andrew
Left,

913
00:39:52,392 --> 00:39:54,626
those guys thinkit's going to
$20.

914
00:39:54,661 --> 00:39:56,562
- Pretty obvious whatthe price
target

915
00:39:56,596 --> 00:39:57,796
is right now, right?

916
00:39:57,831 --> 00:40:03,869
I mean, it's almost
certainlygoing to $420.69,
right?

917
00:40:03,903 --> 00:40:11,677
[LAUGHS] Kidding. Am I?

918
00:40:11,711 --> 00:40:20,352
[MUSIC PLAYING]

919
00:40:20,387 --> 00:40:22,021
MATT KELLY:This is where stuff
started

920
00:40:22,055 --> 00:40:28,527
to shift for me, right?I'm not
sleeping at all.

921
00:40:28,561 --> 00:40:31,830
I can't focuson anything else.

922
00:40:31,865 --> 00:40:34,533
I'm compulsivelylooking at my
phone.

923
00:40:34,567 --> 00:40:38,170
And I started buying intothe
whole diamond hands thing.

924
00:40:38,204 --> 00:40:42,007
I think luck is whenpreparation
meets opportunity,

925
00:40:42,042 --> 00:40:50,215
and this was an opportunity.

926
00:40:50,250 --> 00:40:53,118
Monday morning rolls aroundand
my friend, Theo,

927
00:40:53,153 --> 00:40:54,720
he messaged me like,hey, man,

928
00:40:54,754 --> 00:40:56,955
I don't think GameStop isgoing
to do anything more.

929
00:40:56,990 --> 00:40:58,223
I don't think anything'sgoing
to hire.

930
00:40:58,258 --> 00:41:00,192
I'm just going to sell.I was
like, don't sell, dude.

931
00:41:00,226 --> 00:41:01,894
You're an idiot.Like don't
sell.

932
00:41:01,928 --> 00:41:03,762
What the hell is wrongwith you?
And he sold.

933
00:41:03,797 --> 00:41:07,800
Literally, 10 minutes later,it
starts going.

934
00:41:07,834 --> 00:41:11,103
REPORTER: Stock for GameStopis
up dramatically.

935
00:41:11,137 --> 00:41:14,873
REPORTER: It's been
justswinging wildly.

936
00:41:14,908 --> 00:41:16,575
ALVAN CHOW:The week of the
squeeze,

937
00:41:16,609 --> 00:41:17,943
I was describing itto my
girlfriend

938
00:41:17,977 --> 00:41:19,978
as like I'm in the NBA
Finalsright now.

939
00:41:20,080 --> 00:41:25,417
I have to belike on all
cylinders.

940
00:41:25,452 --> 00:41:26,719
Like when I have to execute

941
00:41:26,753 --> 00:41:29,988
is probably the mostimportant
week of my life.

942
00:41:30,090 --> 00:41:31,557
- I got my stimulus. [LAUGHS]

943
00:41:31,591 --> 00:41:33,092
So I started throwingmy
stimulus in it,

944
00:41:33,126 --> 00:41:34,993
and I'm feeling cute,you know.

945
00:41:35,095 --> 00:41:36,395
Then I'mwatching the numbers

946
00:41:36,429 --> 00:41:39,965
and it just keeps,and I'm like,
huh.

947
00:41:40,000 --> 00:41:42,101
Maybe this is something.

948
00:41:42,135 --> 00:41:43,836
REPORTER: GameStop is knownas
the world's

949
00:41:43,870 --> 00:41:45,804
largest video game retailer.

950
00:41:45,839 --> 00:41:47,106
REPORTER:The stock is now at
the center

951
00:41:47,140 --> 00:41:49,108
of a Davidversus Goliath story.

952
00:41:49,109 --> 00:41:50,342
Shares have soared,

953
00:41:50,377 --> 00:41:53,645
driven by posts on theReddit
forum WallStreetBets.

954
00:41:53,680 --> 00:41:54,913
MATT KELLY:My wife and I

955
00:41:54,948 --> 00:41:57,316
are drivingto meet our realtor,

956
00:41:57,350 --> 00:41:58,951
and GameStop is moving.

957
00:41:58,985 --> 00:42:00,953
REPORTER:There are potentially
billions

958
00:42:01,054 --> 00:42:04,089
of dollars of investor
dollarson the line here.

959
00:42:04,124 --> 00:42:05,424
MATT KELLY: We're supposed tobe
looking at houses,

960
00:42:05,458 --> 00:42:07,926
and I'm like,I can't look at--

961
00:42:07,961 --> 00:42:09,595
I'm staring at my phone.She's
looking at--

962
00:42:09,629 --> 00:42:11,296
she's like, oh this is nice.

963
00:42:11,331 --> 00:42:14,533
I'm like staring.I'm like, oh,
that's great.

964
00:42:14,567 --> 00:42:16,702
This is a great house.Let's
just get this one.

965
00:42:16,736 --> 00:42:20,673
REPORTER: The company surgedas
much as 145% today.

966
00:42:20,707 --> 00:42:23,108
REPORTER: But this increasewill
not last.

967
00:42:23,143 --> 00:42:24,977
- It's just lunacy.

968
00:42:25,078 --> 00:42:26,345
[CHEERING]

969
00:42:26,379 --> 00:42:27,646
CHRIS GARCIA:This is the week,
right,

970
00:42:27,681 --> 00:42:30,883
where I'm high and mighty.I
feel great.

971
00:42:30,917 --> 00:42:32,985
I'm making what's
literallyalmost a year's worth

972
00:42:33,086 --> 00:42:35,554
of salary in a month.

973
00:42:35,588 --> 00:42:39,291
Everybody is, at this
point,just sell, Chris.

974
00:42:39,325 --> 00:42:42,695
You got $23,000.You have
$24,000 in there.

975
00:42:42,729 --> 00:42:44,096
But what if?

976
00:42:44,097 --> 00:42:48,000
What if the charts are
right,this $24,000 turns into

977
00:42:48,101 --> 00:42:51,970
$60,000, $70,000,$80,000,
$90,000.

978
00:42:52,005 --> 00:42:53,205
You never know.

979
00:42:53,239 --> 00:42:55,240
REPORTER:Hedge funds have lost
billions

980
00:42:55,275 --> 00:42:57,109
by betting against the stock.

981
00:42:57,110 --> 00:43:00,346
Some little guys standto make
millions.

982
00:43:00,380 --> 00:43:02,047
- Fuck. [LAUGHS]

983
00:43:02,048 --> 00:43:05,084
I missed it.The thesis was
right.

984
00:43:05,118 --> 00:43:08,687
The group was right.The apes
are winning.

985
00:43:08,722 --> 00:43:18,764
[ROARING]

986
00:43:18,765 --> 00:43:28,941
[ROARING]

987
00:43:28,975 --> 00:43:30,209
REPORTER:Some breaking news

988
00:43:30,243 --> 00:43:32,745
this morningon this GameStop
story.

989
00:43:32,779 --> 00:43:35,881
Gabe Plotkin saying thatMelvin
Capital has been out,

990
00:43:35,915 --> 00:43:37,850
closed out its position.

991
00:43:37,884 --> 00:43:40,853
- The numbers and whathe's down
is dramatic.

992
00:43:40,887 --> 00:43:42,287
So the questionwill become
there,

993
00:43:42,322 --> 00:43:44,123
what is the futureof that firm?

994
00:43:44,157 --> 00:43:45,391
Unclear.

995
00:43:45,425 --> 00:43:47,793
STOCK EXPERT: Around 10:30or 11
o'clock in the morning,

996
00:43:47,827 --> 00:43:52,464
it comes out that thisbig fund,
Melvin Capital,

997
00:43:52,499 --> 00:43:55,701
is short the stock andfeeling
the pain,

998
00:43:55,735 --> 00:43:59,371
and they are takingmassive
losses.

999
00:43:59,406 --> 00:44:03,075
This really emboldensthe
WallStreetBets crowd.

1000
00:44:03,109 --> 00:44:06,111
They justtook down a hedge
fund.

1001
00:44:06,146 --> 00:44:08,313
- Once people did find outthat
Melvin

1002
00:44:08,348 --> 00:44:11,150
was probably one ofthe larger
short parties,

1003
00:44:11,184 --> 00:44:12,484
there was a lot of hate

1004
00:44:12,519 --> 00:44:15,054
towards Melvin Capital,a lot of
hate.

1005
00:44:15,055 --> 00:44:19,425
[MUSIC PLAYING]

1006
00:44:19,459 --> 00:44:21,760
MAN: Once people realizedMelvin
was losing money,

1007
00:44:21,795 --> 00:44:24,163
that Citron was losing
money,this suddenly became

1008
00:44:24,197 --> 00:44:25,397
a whole movement.

1009
00:44:25,432 --> 00:44:28,434
MAN: We can change the
biggesteconomy of the planet

1010
00:44:28,468 --> 00:44:31,570
and break Wall Street.

1011
00:44:31,604 --> 00:44:34,273
WOMAN: The number ofthe
community keeps growing.

1012
00:44:34,307 --> 00:44:36,141
It's like 4 million people.

1013
00:44:36,176 --> 00:44:38,577
The next day it's like5 million
people.

1014
00:44:38,611 --> 00:44:40,779
Next day, 6 million people.

1015
00:44:40,814 --> 00:44:44,183
And the news cyclestarts taking
over.

1016
00:44:44,217 --> 00:44:46,418
REPORTER: The online armyof
average investors

1017
00:44:46,453 --> 00:44:47,686
dealt a blow today

1018
00:44:47,721 --> 00:44:48,987
in their fight againstthe Wall
Street--

1019
00:44:49,089 --> 00:44:50,155
[INTERPOSING VOICES]

1020
00:44:50,190 --> 00:44:52,091
REPORTER: Thousands, if
notmillions of them,

1021
00:44:52,092 --> 00:44:53,959
decided to buy up that
stockthat used to be cheap.

1022
00:44:53,993 --> 00:44:55,160
REPORTER: [SPEAKING SPANISH]

1023
00:44:55,195 --> 00:44:57,463
STOCK EXPERT:The media is
talking

1024
00:44:57,497 --> 00:45:00,666
about this WallStreetBets.The
forum is exploding.

1025
00:45:00,700 --> 00:45:02,034
Everybody wantsto get a piece
of

1026
00:45:02,068 --> 00:45:04,503
this thing.

1027
00:45:04,537 --> 00:45:06,538
CAMERON PERRI:The swings were
insane.

1028
00:45:06,573 --> 00:45:08,340
When it ran to the $150the
first time,

1029
00:45:08,375 --> 00:45:11,143
I watched my account runinto
the multimillion

1030
00:45:11,177 --> 00:45:12,444
period,

1031
00:45:12,479 --> 00:45:15,881
and then watchedit just
plummet.

1032
00:45:15,915 --> 00:45:18,784
And you cancall it paper hands,

1033
00:45:18,818 --> 00:45:21,053
but I sold a decent chunk.

1034
00:45:21,054 --> 00:45:23,222
KIRSTEN: I was alsolike kind of
unsure,

1035
00:45:23,256 --> 00:45:26,392
so I sold offabout half my
shares.

1036
00:45:26,426 --> 00:45:29,561
I remember, like,not sleeping
that entire week.

1037
00:45:29,596 --> 00:45:31,864
CAMERON PERRI:It was very, very
hard

1038
00:45:31,898 --> 00:45:37,069
to make decisionsat that point
in time.

1039
00:45:37,070 --> 00:45:38,871
STOCK EXPERT: You could seethe
risk in this name.

1040
00:45:38,905 --> 00:45:40,673
The stock wentfrom $10 to $150.

1041
00:45:40,707 --> 00:45:42,074
You know,then everyone thinks,
well,

1042
00:45:42,075 --> 00:45:43,242
it should go from $150

1043
00:45:43,276 --> 00:45:46,812
to $10,000, right?There is no
limit.

1044
00:45:46,846 --> 00:45:49,415
ALVAN CHOW: Who knowshow high
this could go?

1045
00:45:49,449 --> 00:45:53,252
If it goes to $1,000or $2,000.

1046
00:45:53,286 --> 00:45:55,220
You don't want to overreactor
try to steal

1047
00:45:55,255 --> 00:45:56,422
a ball

1048
00:45:56,456 --> 00:45:58,357
and risk a foulin the key
moments.

1049
00:45:58,391 --> 00:46:00,225
You want to beextremely
disciplined.

1050
00:46:00,260 --> 00:46:03,429
And everything that you
weretrained to do--

1051
00:46:03,463 --> 00:46:05,230
so I was training myself

1052
00:46:05,265 --> 00:46:09,335
to look for this momentof
euphoria.

1053
00:46:09,369 --> 00:46:14,073
And then rightbefore
after-hours,

1054
00:46:14,107 --> 00:46:17,509
Elon tweeted "Gamestonk!!"

1055
00:46:17,544 --> 00:46:28,220
REPORTER:The leader of this
revolution?

1056
00:46:28,254 --> 00:46:34,593
Many of these small guysare
pointing to Elon Musk.

1057
00:46:34,627 --> 00:46:39,064
MAN: The god, the king,the meme
master himself,

1058
00:46:39,065 --> 00:46:43,769
Elon Musk has tweeted
aboutGameStop and
WallStreetBets.

1059
00:46:43,803 --> 00:46:46,405
We are on his map.

1060
00:46:46,439 --> 00:46:59,318
[LAUNCH SOUNDS]

1061
00:46:59,352 --> 00:47:01,553
MAN: If you happento be on
social media

1062
00:47:01,588 --> 00:47:05,391
and you have a great reach,is
that not power?

1063
00:47:05,425 --> 00:47:11,463
Is that not influence?

1064
00:47:11,498 --> 00:47:12,931
- Diamond hands, baby.Diamond
hands.

1065
00:47:13,033 --> 00:47:19,471
Like, to the moon, boys.To the
moon. GameStop at $420.

1066
00:47:19,506 --> 00:47:20,906
It did hit $420.

1067
00:47:20,940 --> 00:47:25,344
Ladies and gentlemen, themagic
$420 has been achieved.

1068
00:47:25,378 --> 00:47:27,513
It has been
achieved.Congratulations.

1069
00:47:27,547 --> 00:47:29,348
You were here.

1070
00:47:29,382 --> 00:47:32,051
When-- oh, $420.69.Take a
screenshot.

1071
00:47:32,052 --> 00:47:33,519
Take a screenshot.

1072
00:47:33,553 --> 00:47:38,957
[MUSIC PLAYING]

1073
00:47:39,059 --> 00:47:41,427
SIR JACKALOT:The esteemed $420.

1074
00:47:41,461 --> 00:47:45,064
People were saying $1,000is not
a dream anymore.

1075
00:47:45,065 --> 00:47:48,100
$1,000 is not a meme.

1076
00:47:48,134 --> 00:47:50,436
It's been likethis fairy tale,
this myth.

1077
00:47:50,470 --> 00:47:54,073
The motherof all short
squeezes.

1078
00:47:54,074 --> 00:47:56,875
- Good evening,
newly-mintedReddit
millionaires.

1079
00:47:56,910 --> 00:47:58,877
I'm sure all of youare watching
this

1080
00:47:58,912 --> 00:48:02,014
from the marble bathtubson your
hovercraft.

1081
00:48:02,015 --> 00:48:04,016
- I didn't think I was oneto
get swept up

1082
00:48:04,017 --> 00:48:09,054
by the greed and the ego,but I
was.

1083
00:48:09,089 --> 00:48:11,390
Anyone who can stomach

1084
00:48:11,424 --> 00:48:15,527
$10 million swings in
theirportfolio is sort of
crazy.

1085
00:48:15,562 --> 00:48:18,797
- Has everybody been
followingthis crazy GameStop--

1086
00:48:18,832 --> 00:48:20,065
- GameStop.

1087
00:48:20,100 --> 00:48:21,734
- GameStop is a storeat a mall.

1088
00:48:21,768 --> 00:48:24,236
It's between the Claire'sand
the Orange Julius.

1089
00:48:24,270 --> 00:48:26,138
KIRSTEN: My parents hadcalled
me and asked me

1090
00:48:26,172 --> 00:48:28,307
if I was in GameStopand how
this was affecting me.

1091
00:48:28,341 --> 00:48:29,541
And I was like,

1092
00:48:29,576 --> 00:48:31,310
yeah, I'm making a shitton of
money this week.

1093
00:48:31,344 --> 00:48:32,878
That's what's happeningwith
GameStop.

1094
00:48:32,912 --> 00:48:34,179
I had made so much

1095
00:48:34,214 --> 00:48:38,717
money, I told my dad,let's go
to Florida.

1096
00:48:38,752 --> 00:48:48,927
- I'm seeing $200,000,$300,000
in my Roth IRA,

1097
00:48:48,962 --> 00:48:52,498
$300,000in my TD Ameritrade
account.

1098
00:48:52,532 --> 00:48:53,732
Like OK, we're taking

1099
00:48:53,767 --> 00:48:55,901
this money and buying cryptoand
buying--

1100
00:48:55,935 --> 00:48:59,438
you I started investingin wine
and stuff. [LAUGHS]

1101
00:48:59,472 --> 00:49:02,608
- You know, you're messingwith
your boys.

1102
00:49:02,642 --> 00:49:04,243
Hey, man, what color Ferrariswe
getting?

1103
00:49:04,277 --> 00:49:05,544
Like da, da, da.Because

1104
00:49:05,578 --> 00:49:06,845
I'm like,I'm not selling this.

1105
00:49:06,880 --> 00:49:11,917
I'm like, I want$15,000 a
share.

1106
00:49:12,018 --> 00:49:13,919
- Surprise. [LAUGHS]

1107
00:49:14,020 --> 00:49:15,788
GameStop's up about 5X

1108
00:49:15,822 --> 00:49:17,890
from when I uploadedthose
videos over the summer,

1109
00:49:17,924 --> 00:49:19,425
so that'sgreat to see.

1110
00:49:19,459 --> 00:49:22,027
When you have a thesisand, by
and large,

1111
00:49:22,028 --> 00:49:24,396
it unfolds as you hopedthat it
could, that's nice.

1112
00:49:24,431 --> 00:49:25,731
So it shouldn't

1113
00:49:25,765 --> 00:49:27,433
be taken for granted.It doesn't
always happen.

1114
00:49:27,467 --> 00:49:30,602
So just to clear upsome
potential misconceptions,

1115
00:49:30,637 --> 00:49:32,871
this was a true YOLO for me.

1116
00:49:32,906 --> 00:49:35,140
When I was buildingthis
position

1117
00:49:35,175 --> 00:49:38,477
last year, we had nowhereclose
to a million dollars.

1118
00:49:38,511 --> 00:49:40,412
I certainly do notdrive a
Lambo.

1119
00:49:40,447 --> 00:49:42,614
We rent this housethat you see.

1120
00:49:42,649 --> 00:49:47,319
So it's been a wild ridefor us
as a family.

1121
00:49:47,354 --> 00:49:51,156
And it has been just so muchfun
to experience

1122
00:49:51,191 --> 00:49:52,791
that with you overthe past
couple of months.

1123
00:49:52,826 --> 00:49:55,794
I hope you hadsome fun as well.

1124
00:49:55,829 --> 00:49:58,897
And yeah, that's all.Again,
thank you to everybody.

1125
00:49:58,932 --> 00:50:00,566
I hope you've had a fun time,

1126
00:50:00,600 --> 00:50:13,078
and I'll seeyou around.

1127
00:50:13,113 --> 00:50:21,020
- All right.

1128
00:50:21,054 --> 00:50:24,790
DIRECTOR:All right, can you
see?

1129
00:50:24,824 --> 00:50:28,027
- I can see.It's kind of
freaky.

1130
00:50:28,061 --> 00:50:29,628
I figured you guyswould like
the mushroom.

1131
00:50:29,662 --> 00:50:30,863
[LAUGHS]

1132
00:50:30,897 --> 00:50:32,498
This is a companyI invested
in--

1133
00:50:32,532 --> 00:50:34,333
well, notthe sweatshirt
company.

1134
00:50:34,367 --> 00:50:38,037
I was the first investorin
psychedelics.

1135
00:50:38,071 --> 00:50:41,040
Andit's a billion

1136
00:50:41,074 --> 00:50:43,442
and a half dollarcompany today,

1137
00:50:43,476 --> 00:50:45,678
maybe $2 billion.I don't
remember.

1138
00:50:45,712 --> 00:50:49,014
So gold, right,which is kind of

1139
00:50:49,049 --> 00:50:50,449
3,000 years old.

1140
00:50:50,483 --> 00:50:53,519
It's worth came from the
gods.The Aztecs,

1141
00:50:53,553 --> 00:50:56,855
the Incas, the Egyptian,all
that had value.

1142
00:50:56,890 --> 00:51:00,325
The total amount of goldon
earth today,

1143
00:51:00,360 --> 00:51:03,896
that's the total amount
that'sever been mined in
history,

1144
00:51:03,930 --> 00:51:06,498
could fit in a cube55 feet
across.

1145
00:51:06,533 --> 00:51:07,700
So think about it.

1146
00:51:07,734 --> 00:51:09,868
It could almost fitin this
room, right?

1147
00:51:09,903 --> 00:51:11,537
That's it.That's all the gold.

1148
00:51:11,571 --> 00:51:12,838
You could put itin Central
Park.

1149
00:51:12,872 --> 00:51:14,139
And people would be like,

1150
00:51:14,174 --> 00:51:16,141
that's all the gold in theworld
ever.

1151
00:51:16,176 --> 00:51:18,377
It's worth $10 trillion.

1152
00:51:18,411 --> 00:51:20,212
Now, how in the hellis that
worth $10 trillion?

1153
00:51:20,246 --> 00:51:24,149
It's a sculpture. I bought
aLeBron James rookie card

1154
00:51:24,184 --> 00:51:26,485
for a million dollars.It's now
worth $5 million.

1155
00:51:26,519 --> 00:51:28,687
My mom thought I was insane.

1156
00:51:28,722 --> 00:51:31,190
A million dollarson a
basketball card?

1157
00:51:31,224 --> 00:51:33,525
Frickin' Pokemon cards.

1158
00:51:33,560 --> 00:51:34,760
If you had aCharizard,

1159
00:51:34,794 --> 00:51:38,731
it's worth like $600,000.It's a
social construct.

1160
00:51:38,765 --> 00:51:41,433
It's got value becausewe say it
has value.

1161
00:51:41,468 --> 00:51:42,701
That's it.

1162
00:51:42,736 --> 00:51:44,436
So you look at someonelike Elon
Musk.

1163
00:51:44,471 --> 00:51:46,572
He's createda cult around him,

1164
00:51:46,606 --> 00:51:47,773
a religion around him.

1165
00:51:47,807 --> 00:51:50,542
And people, youcan't speak
sense to them.

1166
00:51:50,577 --> 00:51:51,744
They have their own model,

1167
00:51:51,778 --> 00:51:53,012
even if the modeldoesn't make
any sense.

1168
00:51:53,113 --> 00:51:56,115
They're goingto buy Elon stuff.

1169
00:51:56,116 --> 00:51:58,017
The thing withthe GameStop
story,

1170
00:51:58,118 --> 00:52:01,220
we had a bunch of young kidswho
were really savvy

1171
00:52:01,254 --> 00:52:03,222
who figured out, hm,

1172
00:52:03,256 --> 00:52:05,124
this stock's tradingfor very
little.

1173
00:52:05,158 --> 00:52:07,292
There's a lotof short interest.

1174
00:52:07,327 --> 00:52:10,262
We can buy optionsand drive it
up and squeeze

1175
00:52:10,296 --> 00:52:11,964
out the shorts.

1176
00:52:12,065 --> 00:52:15,634
Once it started going,it became
a social phenomenon.

1177
00:52:15,669 --> 00:52:18,103
It became an F-uto the system.

1178
00:52:18,138 --> 00:52:23,242
Like therewas a nihilism to it.

1179
00:52:23,276 --> 00:52:25,377
Some guys were
literallytweeting things like,

1180
00:52:25,412 --> 00:52:29,248
I don't care.I'm YOLO-ing my
life savings.

1181
00:52:29,282 --> 00:52:30,582
And almost like a badge

1182
00:52:30,617 --> 00:52:32,484
of honor that they wouldlose
their money.

1183
00:52:32,519 --> 00:52:36,488
I mean, there was a
craziness.It can't last.

1184
00:52:36,523 --> 00:52:40,125
It's not the way the
worldworks.

1185
00:52:40,160 --> 00:52:41,894
There's not a goodenough story,

1186
00:52:41,928 --> 00:52:44,730
not a good enough mytharound
GameStop

1187
00:52:44,764 --> 00:52:48,834
that it will be a
long-term,sustainable game.

1188
00:52:48,868 --> 00:52:54,106
And the original guys
probablysold and made a lot of
money.

1189
00:52:54,140 --> 00:52:56,975
What was so scary to me,
thebulk of the people

1190
00:52:57,010 --> 00:52:59,945
that are participating in
thisrevolution aren't
investors.

1191
00:53:00,046 --> 00:53:01,480
They're along for the ride

1192
00:53:01,514 --> 00:53:04,917
and they'relistening to their
friend.

1193
00:53:04,951 --> 00:53:10,856
In all likelihood,it will end
ugly.

1194
00:53:10,890 --> 00:53:12,257
MATT KELLY:I talked with my
wife

1195
00:53:12,292 --> 00:53:15,127
about like there's a
reallystrong feeling

1196
00:53:15,161 --> 00:53:17,429
that this can goto $1,000 a
share.

1197
00:53:17,464 --> 00:53:18,764
This whole thing,

1198
00:53:18,798 --> 00:53:20,165
we can go to $1,000 a share

1199
00:53:20,200 --> 00:53:22,801
and we'd havelike over $2
million.

1200
00:53:22,836 --> 00:53:24,203
$1 million doesn't seemenough
for me

1201
00:53:24,237 --> 00:53:25,404
anymore, right?

1202
00:53:25,438 --> 00:53:28,841
The psychological impactthat
this amount of money has,

1203
00:53:28,875 --> 00:53:31,076
you see moneyin a different
way.

1204
00:53:31,077 --> 00:53:34,947
So I hold. I set my

1205
00:53:34,981 --> 00:53:38,317
limit sellon all my accounts to
$800.

1206
00:53:38,351 --> 00:53:39,818
Wednesday nightis the first
night

1207
00:53:39,853 --> 00:53:41,120
I went to sleep inlike fucking
weeks.

1208
00:53:41,154 --> 00:53:42,388
I don't think

1209
00:53:42,422 --> 00:53:44,656
much is going to happenon
Thursday.

1210
00:53:44,691 --> 00:53:46,959
Fucking I was wrong.

1211
00:53:46,993 --> 00:53:53,198
[MUSIC PLAYING]

1212
00:53:53,233 --> 00:53:57,102
WOMAN: So I'm at the
gym,naturally-- all my stories.

1213
00:53:57,103 --> 00:53:59,371
And this is beforethe 9:30
market opens.

1214
00:53:59,406 --> 00:54:02,908
This is a Thursday.

1215
00:54:02,942 --> 00:54:05,077
And my portfolio is set.

1216
00:54:05,111 --> 00:54:07,312
It's cute.So I'm looking at it,

1217
00:54:07,347 --> 00:54:10,716
and every single numberis
popping, popping, popping.

1218
00:54:10,750 --> 00:54:12,518
And Isee GameStop hit--

1219
00:54:12,552 --> 00:54:17,656
I think it was like $467,$497,
something like that.

1220
00:54:17,691 --> 00:54:19,058
I'm going in there.

1221
00:54:19,092 --> 00:54:20,826
I'm like, oh, maybe I'llbuy one
more AMC.

1222
00:54:20,860 --> 00:54:22,094
It's like, I'm sorry.

1223
00:54:22,128 --> 00:54:24,363
You already have a
certainamount. You can't buy
more.

1224
00:54:24,397 --> 00:54:27,866
And all of asudden you see a
doom.

1225
00:54:27,901 --> 00:54:30,502
And I'm just like,what the
fuck?

1226
00:54:30,537 --> 00:54:32,171
- We're seeing reportsthat
Robinhood

1227
00:54:32,205 --> 00:54:34,506
is restricting purchasesof some
of these stocks,

1228
00:54:34,541 --> 00:54:36,175
including GameStop andAMC.

1229
00:54:36,209 --> 00:54:37,710
CHRIS GARCIA:I wake up that
morning, right?

1230
00:54:37,744 --> 00:54:41,880
One of my buddies hits me
up,and he goes, hey, man.

1231
00:54:41,915 --> 00:54:43,115
You can't buy.I'm like,

1232
00:54:43,149 --> 00:54:44,850
what do you meanyou can't buy?

1233
00:54:44,884 --> 00:54:47,086
He goes, go on to Robinhood.

1234
00:54:47,087 --> 00:54:48,354
- Kelly, Robinhoodstopped
trading.

1235
00:54:48,388 --> 00:54:49,888
Robinhood stopped trading.You
need to sell.

1236
00:54:49,923 --> 00:54:51,090
You need to take profits.

1237
00:54:51,091 --> 00:54:52,458
REPORTER:Robinhood and other
online

1238
00:54:52,492 --> 00:54:56,261
brokerages blocked usersfrom
buying shares of GameStop

1239
00:54:56,296 --> 00:54:58,397
and other shortedstocks.

1240
00:54:58,431 --> 00:55:02,368
- That morning, I woke up
tolike minus $10,000 or
$15,000.

1241
00:55:02,402 --> 00:55:04,136
And I was like, yeah, this
isthe toughest hit I've

1242
00:55:04,170 --> 00:55:05,404
ever had.

1243
00:55:05,438 --> 00:55:07,573
REPORTER: These sitessuddenly
allowed users

1244
00:55:07,607 --> 00:55:10,542
only to sell their
positions,not to get new ones.

1245
00:55:10,577 --> 00:55:11,877
REPORTER:Robinhood put out a
statement,

1246
00:55:11,911 --> 00:55:14,046
quote, "in lightof recent
volatility,

1247
00:55:14,080 --> 00:55:16,749
we are restrictingtransactions
for certain

1248
00:55:16,783 --> 00:55:19,752
securitiesto position closing
only,"

1249
00:55:19,786 --> 00:55:21,053
which meansyou can only sell
it.

1250
00:55:21,087 --> 00:55:23,288
- If you can only sell stocks,

1251
00:55:23,323 --> 00:55:26,925
then those stocksonly go down.

1252
00:55:26,960 --> 00:55:29,661
MATT KELLY: I go to work.And
I'm standing there.

1253
00:55:29,696 --> 00:55:33,632
I'm givinga presentation,
right?

1254
00:55:33,667 --> 00:55:37,636
I'm on a Zoom meetingwith 100
people.

1255
00:55:37,671 --> 00:55:40,906
And the price drops to about120
bucks a share.

1256
00:55:40,940 --> 00:55:43,075
I'm like in the middleof a
word.

1257
00:55:43,076 --> 00:55:44,309
And I look downand I see that

1258
00:55:44,344 --> 00:55:46,578
and I just went--I just freeze.

1259
00:55:46,613 --> 00:55:49,615
I stopped.I'm sick to my
stomach.

1260
00:55:49,649 --> 00:55:50,949
I don't knowwhat the fuck I'm
doing.

1261
00:55:50,984 --> 00:55:53,585
Like why?

1262
00:55:53,620 --> 00:55:55,154
A million dollarsis a million
dollars.

1263
00:55:55,188 --> 00:55:56,655
Like what is wrong with me?

1264
00:55:56,690 --> 00:55:58,090
REPORTER:After surging
yesterday,

1265
00:55:58,091 --> 00:56:00,259
the stock dropped 44%.

1266
00:56:00,293 --> 00:56:01,927
- Then it immediatelypops back
up.

1267
00:56:02,028 --> 00:56:06,165
REPORTER: It hit an
intradayhigh of $469.

1268
00:56:06,199 --> 00:56:08,100
- But the next thing you
know,it's tumbling down.

1269
00:56:08,134 --> 00:56:09,702
You couldn't stop itfast
enough.

1270
00:56:09,736 --> 00:56:11,704
You're watching it and it's
bylike the minute.

1271
00:56:11,738 --> 00:56:14,106
You're like, oh, my--dude. I
was like, oh.

1272
00:56:14,140 --> 00:56:17,142
REPORTER: The stock droppeda
whopping 44%.

1273
00:56:17,177 --> 00:56:19,178
- It was soincredibly
stressful.

1274
00:56:19,212 --> 00:56:20,846
REPORTER: Janet Yellen,Treasury
Secretary.

1275
00:56:20,880 --> 00:56:23,048
The SEC saidthey are watching.

1276
00:56:23,049 --> 00:56:25,217
- [NON-ENGLISH SPEECH]

1277
00:56:25,251 --> 00:56:27,820
- Dude, what the--- There it
is,

1278
00:56:27,854 --> 00:56:29,154
and it is nowstarting to fall.

1279
00:56:29,189 --> 00:56:30,389
- I have never seen
anythinglike this

1280
00:56:30,423 --> 00:56:31,724
in my three weeksof investing.

1281
00:56:31,758 --> 00:56:33,292
REPORTER: And GameStopgoes down
44% today

1282
00:56:33,326 --> 00:56:34,660
at the closing bell.

1283
00:56:34,694 --> 00:56:36,695
It shot back up duringafter
hours trading.

1284
00:56:36,730 --> 00:56:41,066
The pricenow stands at $312 per
share.

1285
00:56:41,101 --> 00:56:48,374
[POUNDING]

1286
00:56:48,408 --> 00:56:51,710
- Oh, my lord.

1287
00:56:51,745 --> 00:56:56,148
It was World War IIIat my home.

1288
00:56:56,182 --> 00:56:58,517
My fiancée was like,what is
going on?

1289
00:56:58,551 --> 00:57:00,519
I am screaming.

1290
00:57:00,553 --> 00:57:01,720
I'm literally

1291
00:57:01,755 --> 00:57:04,189
on the vergeof breaking stuff.

1292
00:57:04,224 --> 00:57:06,525
I'm about to drive to MenloPark
with big red paint

1293
00:57:06,559 --> 00:57:07,860
and just be like

1294
00:57:07,894 --> 00:57:09,395
"cheaters"right on their front
door.

1295
00:57:09,429 --> 00:57:11,530
Like, you guys arescrewing us
all over.

1296
00:57:11,564 --> 00:57:13,565
Like, Robinhoodis you take from
the

1297
00:57:13,600 --> 00:57:15,200
rich and give to the poor.

1298
00:57:15,235 --> 00:57:17,703
Now Robinhood's changingthe
rules of the game

1299
00:57:17,737 --> 00:57:18,937
so that they don't lose.

1300
00:57:19,039 --> 00:57:20,606
- The market will takecare of
this.

1301
00:57:20,640 --> 00:57:24,843
The market will show
thatGameStop is not a $500
stock

1302
00:57:24,878 --> 00:57:26,245
or a $1,000 stock.

1303
00:57:26,279 --> 00:57:27,446
It's a $5 stock.

1304
00:57:27,480 --> 00:57:30,749
- You'd see a slewof negative
articles

1305
00:57:30,784 --> 00:57:33,085
or an analyst downgrade.

1306
00:57:33,119 --> 00:57:35,354
- Last week wasn'ta free
market.

1307
00:57:35,388 --> 00:57:36,922
It was a free for all market.

1308
00:57:36,956 --> 00:57:39,124
- I think there is
somethingobviously wrong,

1309
00:57:39,159 --> 00:57:42,261
and it's the gamificationof
Wall Street.

1310
00:57:42,295 --> 00:57:44,229
- Jim Cramer,that dude from
CNBC,

1311
00:57:44,264 --> 00:57:47,800
he's like, you guys won.You
guys won. Take the money.

1312
00:57:47,834 --> 00:57:49,068
JIM CRAMER:Take the home run.

1313
00:57:49,102 --> 00:57:51,970
Don't go for the grand
slam.Take the home run.

1314
00:57:52,072 --> 00:57:53,305
You've already won.

1315
00:57:53,340 --> 00:57:54,807
- You're putting a
restrictionon a stock,

1316
00:57:54,841 --> 00:57:56,875
and it's causing that stockto
lose value.

1317
00:57:56,910 --> 00:57:58,610
And I can't do anything
aboutit.

1318
00:57:58,645 --> 00:58:00,245
Not only that,but the only
thing to save it

1319
00:58:00,280 --> 00:58:02,581
is to buy more stockto make
it--

1320
00:58:02,615 --> 00:58:03,782
to drive the pricethe other
way.

1321
00:58:03,817 --> 00:58:05,117
I can't do that.

1322
00:58:05,151 --> 00:58:08,320
- If they hadn't cutthe supply
of shares off

1323
00:58:08,355 --> 00:58:09,588
when they did,

1324
00:58:09,622 --> 00:58:11,790
the stock would have goneinto
the thousands,

1325
00:58:11,825 --> 00:58:15,027
multiple thousands.As you can
imagine,

1326
00:58:15,028 --> 00:58:22,034
that pisseda lot of people off.

1327
00:58:22,035 --> 00:58:23,168
- There's going to bea big fuck
you

1328
00:58:23,203 --> 00:58:24,503
that you can't stop this.

1329
00:58:24,537 --> 00:58:26,505
It's coming.They want 1,000%
worse.

1330
00:58:26,539 --> 00:58:27,740
[INTERPOSING VOICES]

1331
00:58:27,774 --> 00:58:29,441
- If you're interestedin
pursuing

1332
00:58:29,476 --> 00:58:35,114
a lawsuit against Robinhood,TD
Ameritrade.

1333
00:58:35,148 --> 00:58:39,151
[INTERPOSING VOICES]

1334
00:58:39,185 --> 00:58:43,188
I didn't hear one personon TV
complaining

1335
00:58:43,223 --> 00:58:45,924
about Wall Street tryingto
crush GameStop.

1336
00:58:45,959 --> 00:58:50,596
140% short.

1337
00:58:50,630 --> 00:58:51,964
MATT KELLY: My wife's like,

1338
00:58:52,065 --> 00:58:54,099
we should just sell beforeclose
of business on Friday.

1339
00:58:54,134 --> 00:58:56,769
We can always buy back inif it
drops.

1340
00:58:56,803 --> 00:58:59,304
The price is good right
now.It's still in the $300s.

1341
00:58:59,339 --> 00:59:01,206
We're still making outlike
insane,

1342
00:59:01,241 --> 00:59:02,441
more than we ever dreamed,

1343
00:59:02,475 --> 00:59:03,676
more than we ever imagined.

1344
00:59:03,710 --> 00:59:08,280
And I'm like, no, fuck them.I'm
holding my shares.

1345
00:59:08,314 --> 00:59:10,015
This is bullshit.They can't do
this shit.

1346
00:59:10,016 --> 00:59:11,283
They can't rig the game.

1347
00:59:11,317 --> 00:59:13,018
They can't change the gamein
the middle of it.

1348
00:59:13,019 --> 00:59:15,287
Like, are you kidding me?This
is insane.

1349
00:59:15,321 --> 00:59:17,022
I'm stubborn, right?

1350
00:59:17,023 --> 00:59:19,291
Because now it triggeredthis
other thing in me.

1351
00:59:19,325 --> 00:59:20,659
It's not about money anymore.

1352
00:59:20,694 --> 00:59:22,161
It's not just aboutthe money
anymore.

1353
00:59:22,195 --> 00:59:24,797
It's about therevolutionary
part of it,

1354
00:59:24,831 --> 00:59:30,235
the sticking it to the mantype
of idea, right?

1355
00:59:30,270 --> 00:59:31,737
This is about thetime when Wall
Street

1356
00:59:31,771 --> 00:59:33,038
starts postingall these
billboards

1357
00:59:33,039 --> 00:59:35,040
up in fucking New York,like
"GME Go Brrr,"

1358
00:59:35,041 --> 00:59:36,175
things like this.

1359
00:59:36,209 --> 00:59:39,712
And I am diamond-handingthe
fuck out of this.

1360
00:59:39,746 --> 00:59:41,914
That's my mentality.

1361
00:59:41,948 --> 00:59:49,688
[MUSIC PLAYING]

1362
00:59:49,723 --> 00:59:51,523
The writing was on the wallthat
the rich and powerful

1363
00:59:51,558 --> 00:59:53,158
will do whatever they couldto
prevent this from

1364
00:59:53,193 --> 00:59:58,063
happening.I'm not taking less
than $450.

1365
00:59:58,064 --> 00:59:59,531
KIRSTEN:So I wasn't taking any
losses.

1366
00:59:59,566 --> 01:00:03,369
I was going to hold any
stockfor as long as I could.

1367
01:00:03,403 --> 01:00:04,737
CHRIS GARCIA:We're not going
anywhere,

1368
01:00:04,771 --> 01:00:08,674
you know what I'm saying?We're
not going.

1369
01:00:08,708 --> 01:00:10,709
MATT KELLY:7, 8 million more
people

1370
01:00:10,744 --> 01:00:13,579
were joining the subreddit.

1371
01:00:13,613 --> 01:00:16,015
Psychologically,I'm jacked to
the tits.

1372
01:00:16,049 --> 01:00:17,349
CHRIS GARCIA:Millions of people

1373
01:00:17,384 --> 01:00:22,521
in that thread, man,we were
diamond hands.

1374
01:00:22,555 --> 01:00:24,690
And unfortunately, you know,it
was one of those

1375
01:00:24,724 --> 01:00:27,559
situations that whenthe stock
went down,

1376
01:00:27,594 --> 01:00:29,795
it kind of stayed down, right?

1377
01:00:29,829 --> 01:00:32,598
And literally,it was getting

1378
01:00:32,632 --> 01:00:33,899
so caught up in it

1379
01:00:33,933 --> 01:00:37,803
and then getting so stuck
inthat diamond hands mentality,

1380
01:00:37,837 --> 01:00:40,739
like don't sell anything.And
that's really

1381
01:00:40,774 --> 01:00:44,109
what was essentially almostlike
the beginning of the end,

1382
01:00:44,144 --> 01:00:54,186
I guess you could say -

1383
01:00:54,187 --> 01:01:04,196
I guess you could say -

1384
01:01:14,140 --> 01:01:26,552
[SHUFFLING]

1385
01:01:26,586 --> 01:01:36,829
[MUSIC PLAYING]

1386
01:01:36,863 --> 01:01:38,464
MATT KELLY:It was a Tuesday.

1387
01:01:38,498 --> 01:01:39,832
And I'm just watchingthe price,

1388
01:01:39,866 --> 01:01:44,169
and it's kind of justslowly
trickling downwards.

1389
01:01:44,204 --> 01:01:46,205
I'm holding,

1390
01:01:46,239 --> 01:01:47,806
but I'm startingto feel
nervous.

1391
01:01:47,841 --> 01:01:50,109
I'm starting to feelthis
anxiety.

1392
01:01:50,110 --> 01:01:52,911
I'm reading
WallStreetBetsreligiously.

1393
01:01:52,946 --> 01:01:54,646
I'm seeingall of these posts
about,

1394
01:01:54,681 --> 01:01:57,383
like, it's going to crash,you
know, all of these things.

1395
01:01:57,417 --> 01:01:58,751
And so it's gettingin my head.

1396
01:01:58,785 --> 01:02:00,052
The psychology

1397
01:02:00,053 --> 01:02:01,220
is really fucking with me.

1398
01:02:01,254 --> 01:02:02,588
That's whereWallStreetBets is
at.

1399
01:02:02,622 --> 01:02:03,822
So the sentiment has changed.

1400
01:02:03,857 --> 01:02:05,824
Now there's 8 millionpeople on
there,

1401
01:02:05,859 --> 01:02:09,328
and all this shit's
happening.And I'm like,

1402
01:02:09,362 --> 01:02:14,066
all right,is that the sentiment
now?

1403
01:02:14,067 --> 01:02:16,769
Is our people just thinkingthat
this is done?

1404
01:02:16,803 --> 01:02:19,204
It's over?

1405
01:02:19,239 --> 01:02:22,841
I felt like I fell into a

1406
01:02:22,876 --> 01:02:25,944
cult, right?That's what I felt
in my head.

1407
01:02:25,979 --> 01:02:31,617
All this stuff, I felt likeI
got this cult mentality.

1408
01:02:31,651 --> 01:02:32,851
It's like you've gotto be
careful

1409
01:02:32,886 --> 01:02:34,119
about confirmation bias.You've

1410
01:02:34,154 --> 01:02:35,354
got to be carefulabout these
things.

1411
01:02:35,388 --> 01:02:36,722
And I had beenpreaching that
for years.

1412
01:02:36,756 --> 01:02:37,923
I'm like, how did this happen

1413
01:02:37,957 --> 01:02:41,460
to me?That's what I felt in my
head.

1414
01:02:41,494 --> 01:02:42,895
I felt likeI had been lied to.

1415
01:02:42,929 --> 01:02:50,903
I felt like I bought
intosomething that wasn't true.

1416
01:02:50,937 --> 01:02:52,938
CHRIS GARCIA: Once we
startedlosing money, dude,

1417
01:02:52,972 --> 01:02:55,774
the margin calls werecoming in
almost daily.

1418
01:02:55,809 --> 01:02:57,443
And for a while,it was daily.

1419
01:02:57,477 --> 01:03:00,045
It was like, hey, you owe
us,like, $2,000.

1420
01:03:00,080 --> 01:03:02,781
Like, you need to clearthis up
now. Shit.

1421
01:03:02,816 --> 01:03:05,751
Let me sell x amount of stockof
this, right?

1422
01:03:05,785 --> 01:03:08,053
Because before all this,I was
just using my cash.

1423
01:03:08,088 --> 01:03:10,055
So granted, as soonas they
turned on margin,

1424
01:03:10,090 --> 01:03:11,290
I paid the 5

1425
01:03:11,324 --> 01:03:13,492
bucks a monthfor the Robinhood
gold.

1426
01:03:13,526 --> 01:03:14,927
Seriously,once I got to there,

1427
01:03:14,961 --> 01:03:16,395
it was like, oh my god,
dude.Like, they're

1428
01:03:16,429 --> 01:03:18,063
going to give me an extra,like,
8 grand

1429
01:03:18,064 --> 01:03:19,331
right now to play with?

1430
01:03:19,366 --> 01:03:21,767
I lost thousands uponthousands

1431
01:03:21,801 --> 01:03:25,504
over those next few days,and
that was like, whoa.

1432
01:03:25,538 --> 01:03:28,440
OK, well, there goes
Gigi'scrib.

1433
01:03:28,475 --> 01:03:30,175
There goes the carwe had
planned.

1434
01:03:30,210 --> 01:03:31,844
All right, like,those thoughts
are gone.

1435
01:03:31,878 --> 01:03:34,413
OK, don't worry about it.It
went

1436
01:03:34,447 --> 01:03:36,582
from, oh, I'm going to makeso
much money on this

1437
01:03:36,616 --> 01:03:41,186
to I got cheated out.I got
cheated.

1438
01:03:41,221 --> 01:03:43,355
- A lot of angry customersout
there

1439
01:03:43,390 --> 01:03:45,991
and a lot of questionsabout
what took place

1440
01:03:46,092 --> 01:03:47,693
and the decisions that youmade.

1441
01:03:47,727 --> 01:03:50,529
- Some of your customers,Vlad,
are enraged.

1442
01:03:50,563 --> 01:03:52,464
I mean, they say you're
sidingwith Wall Street,

1443
01:03:52,499 --> 01:03:53,766
that this is a crime.

1444
01:03:53,800 --> 01:03:55,534
CHRIS GARCIA:It felt dirty.

1445
01:03:55,568 --> 01:03:57,102
It felt un-American.

1446
01:03:57,137 --> 01:03:58,437
- I don't want to getdeep with
it,

1447
01:03:58,471 --> 01:04:02,174
but it feels very American.

1448
01:04:02,208 --> 01:04:04,476
- OK, Vlad, you knoweverybody
here

1449
01:04:04,511 --> 01:04:06,478
that's watching ushates your
guts, right?

1450
01:04:06,513 --> 01:04:08,614
- We were sold a narrativethat
isn't real.

1451
01:04:08,648 --> 01:04:11,450
Like here's a history bookthat
is not the truth.

1452
01:04:11,484 --> 01:04:12,785
So you're telling us, oh,

1453
01:04:12,819 --> 01:04:14,687
we want you to investin a free
market.

1454
01:04:14,721 --> 01:04:17,122
That's a fucking lie, too.

1455
01:04:17,157 --> 01:04:27,199
[MUSIC PLAYING]

1456
01:04:27,200 --> 01:04:34,573
[MUSIC PLAYING]

1457
01:04:34,607 --> 01:04:44,650
[CHEERING]

1458
01:04:44,651 --> 01:04:51,590
[CHEERING]

1459
01:04:51,624 --> 01:04:53,258
MIKE HAUPT: There's alwaysbeen
wealth inequality

1460
01:04:53,293 --> 01:04:56,895
in this country,but here is our
moment.

1461
01:04:56,930 --> 01:04:58,664
This is our momentthat we came

1462
01:04:58,698 --> 01:05:00,733
into the public spotlight.The
retail investor

1463
01:05:00,767 --> 01:05:02,668
has finally demonstratedtheir
strength.

1464
01:05:02,702 --> 01:05:04,370
We've got enough peopleinvolved
in the market

1465
01:05:04,404 --> 01:05:06,872
to be ableto make a huge play,

1466
01:05:06,906 --> 01:05:09,708
and for it to slapthat hard was
huge.

1467
01:05:09,743 --> 01:05:12,111
And then it gottaken away from
us.

1468
01:05:12,145 --> 01:05:18,050
And I felt cheatedon behalf of
my community.

1469
01:05:18,084 --> 01:05:21,353
My name is Mike Haupt.I'm from
Tampa, Florida.

1470
01:05:21,388 --> 01:05:23,856
And I make memeson
WallStreetBets.

1471
01:05:23,890 --> 01:05:25,290
I make GIF memes,

1472
01:05:25,325 --> 01:05:26,925
all kinds of memes.

1473
01:05:26,960 --> 01:05:29,361
It's like the Dr. Seuss
thing.I've made memes in the
train.

1474
01:05:29,396 --> 01:05:32,297
I've made memes in my car.

1475
01:05:32,332 --> 01:05:33,132
I just did one

1476
01:05:33,166 --> 01:05:35,934
from the showfrom HBO
"Chernobyl."

1477
01:05:35,969 --> 01:05:37,069
Where I mean, it's messed up,

1478
01:05:37,103 --> 01:05:38,137
but the guy that was suffering

1479
01:05:38,171 --> 01:05:39,605
from theradiation poisoning,

1480
01:05:39,639 --> 01:05:40,873
he's, like,slowly
deteriorating.

1481
01:05:40,907 --> 01:05:42,074
I'm like, this isa person's
account.

1482
01:05:42,108 --> 01:05:43,275
This is a perfect analogy

1483
01:05:43,309 --> 01:05:47,312
for like the
averageWallStreetBets user's
account.

1484
01:05:47,347 --> 01:05:49,081
And I feel likethe transient
relationship

1485
01:05:49,082 --> 01:05:52,751
that my generation haswith
money is not our fault,

1486
01:05:52,786 --> 01:05:54,153
to stick up for mypeople a
little bit

1487
01:05:54,187 --> 01:05:57,122
in my communityand my
generation.

1488
01:05:57,157 --> 01:05:58,824
We were born into the
worldwhere we were encouraged

1489
01:05:58,858 --> 01:06:00,059
not to save,

1490
01:06:00,093 --> 01:06:02,227
where we were encouragedto
think short-term.

1491
01:06:02,262 --> 01:06:04,029
My credit card rewards
pointsgive me more money

1492
01:06:04,030 --> 01:06:06,899
than my savings account.What
does that tell you to do?

1493
01:06:06,933 --> 01:06:08,901
The economy is telling youto
spend your money as fast

1494
01:06:08,935 --> 01:06:11,036
as you get it,and that's what
we're doing.

1495
01:06:11,037 --> 01:06:12,938
REPORTER:Who do you think has
the power

1496
01:06:13,039 --> 01:06:15,441
right now in society?

1497
01:06:15,475 --> 01:06:17,242
- Who do I thinkhas the power
in society?

1498
01:06:17,277 --> 01:06:18,444
REPORTER: Yeah.

1499
01:06:18,478 --> 01:06:19,678
- The rich.

1500
01:06:19,713 --> 01:06:20,913
REPORTER: Why so?

1501
01:06:20,947 --> 01:06:23,949
MAN: They have so muchinfluence
over the laws,

1502
01:06:24,050 --> 01:06:26,585
the regulationsthat they impose
upon us.

1503
01:06:26,619 --> 01:06:27,920
PROTESTOR:We're giving
billions,

1504
01:06:27,954 --> 01:06:29,288
and almost a trillionto Wall
Street,

1505
01:06:29,322 --> 01:06:33,058
just for bailouts.Something
needs to change.

1506
01:06:33,059 --> 01:06:36,695
MIKE HAUPT: The rich
haveinsulated themselves

1507
01:06:36,730 --> 01:06:39,598
from the consequencesof the
economic system

1508
01:06:39,632 --> 01:06:40,933
that they've helpedproduce.

1509
01:06:40,967 --> 01:06:43,268
- There's no excusefor thinking

1510
01:06:43,303 --> 01:06:45,204
there's somethingfree in life.

1511
01:06:45,238 --> 01:06:47,206
You've got to go outand earn
it,

1512
01:06:47,240 --> 01:06:52,845
and that's whatAmerica has
always been.

1513
01:06:52,879 --> 01:06:55,314
REPORTER: Markets just
openedand the GameStop surge

1514
01:06:55,348 --> 01:06:59,151
appears to be over,with the
stock now down 60%,

1515
01:06:59,185 --> 01:07:00,386
well, as ofyesterday.

1516
01:07:00,420 --> 01:07:02,021
But it is morethan just
numbers.

1517
01:07:02,022 --> 01:07:10,696
It is people's lives,their
savings, their 401(k)s.

1518
01:07:10,730 --> 01:07:15,034
MATT KELLY: It drops to
about100 bucks on Tuesday
evening.

1519
01:07:15,035 --> 01:07:17,836
Oh, Jesus.

1520
01:07:17,871 --> 01:07:19,138
I start to get sickto my
stomach

1521
01:07:19,172 --> 01:07:22,041
and I start to kind of
panic.I'm having a panic
attack.

1522
01:07:22,042 --> 01:07:23,575
I was like, we need to getout
of this.

1523
01:07:23,610 --> 01:07:25,844
This is fucking insane.We're
losing all our money.

1524
01:07:25,879 --> 01:07:28,514
Like, what is going on?So
Wednesday morning,

1525
01:07:28,548 --> 01:07:29,748
it sold.

1526
01:07:29,783 --> 01:07:31,517
February 3rd, I think.

1527
01:07:31,551 --> 01:07:37,923
I sold all my sharesat 120
bucks a share.

1528
01:07:37,957 --> 01:07:40,592
I watched a million dollarsgo
down the drain,

1529
01:07:40,627 --> 01:07:42,428
a million dollars, and
that'swhat's going through my
head,

1530
01:07:42,462 --> 01:07:43,662
a million dollars.

1531
01:07:43,697 --> 01:07:45,097
This is my family's future.This
is my future.

1532
01:07:45,131 --> 01:07:46,365
This is time with my kids

1533
01:07:46,399 --> 01:07:52,604
that I could have boughtback.

1534
01:07:52,639 --> 01:07:55,074
I didn't feel likeI gained
$350,000.

1535
01:07:55,075 --> 01:07:58,444
I felt like I lost a million.

1536
01:07:58,478 --> 01:08:08,520
[MUSIC PLAYING]

1537
01:08:08,521 --> 01:08:18,530
[MUSIC PLAYING]

1538
01:08:35,215 --> 01:08:37,116
REPORTER: The trading
frenzyaround GameStop

1539
01:08:37,150 --> 01:08:38,784
is the focuson Capitol Hill
today.

1540
01:08:38,818 --> 01:08:40,586
The House FinancialServices
Committee

1541
01:08:40,620 --> 01:08:44,123
will hold a virtual
meetingasking who wins and
loses

1542
01:08:44,157 --> 01:08:46,058
when short sellers,social
media,

1543
01:08:46,092 --> 01:08:47,526
and retail investorscollide.

1544
01:08:47,560 --> 01:08:48,761
REPORTER:In the hot seat,

1545
01:08:48,795 --> 01:08:51,096
Robinhood CEO Vlad
Tenev,Citadel CEO

1546
01:08:51,131 --> 01:08:53,265
Ken Griffin,Melvin Capital CEO

1547
01:08:53,299 --> 01:08:54,533
Gabe Plotkin, and

1548
01:08:54,567 --> 01:08:56,869
Roaring Kitty,the trader Keith
Gill.

1549
01:08:56,903 --> 01:08:58,537
REPORTER:No doubt lawmakers are
furious

1550
01:08:58,571 --> 01:09:00,572
and they want to havehearings
about this.

1551
01:09:00,607 --> 01:09:02,374
The problem is goingto most
likely

1552
01:09:02,409 --> 01:09:05,377
be that the systemis designed
terribly.

1553
01:09:05,412 --> 01:09:09,314
The system gets abused.And they
need to make changes.

1554
01:09:09,349 --> 01:09:10,582
- First of all, to me,

1555
01:09:10,617 --> 01:09:12,117
this was a whole dogand pony
show.

1556
01:09:12,152 --> 01:09:15,587
- First, Robinhood
Securitiesput the restrictions
in place

1557
01:09:15,622 --> 01:09:18,323
in an effort to meet
increasedregulatory deposit

1558
01:09:18,358 --> 01:09:20,893
requirements,not to help hedge
funds.

1559
01:09:20,927 --> 01:09:22,394
- You can read body
language.You can see the way

1560
01:09:22,429 --> 01:09:25,230
they're trying to weaselout of
something.

1561
01:09:25,265 --> 01:09:27,132
- I understand that partof the
focus of this hearing

1562
01:09:27,167 --> 01:09:29,034
is the decisionof stock trading
platforms

1563
01:09:29,035 --> 01:09:30,936
to limit tradingGameStop.

1564
01:09:31,037 --> 01:09:32,438
I want to make clearat the
outset

1565
01:09:32,472 --> 01:09:34,840
that Melvin Capitalplayed
absolutely no role

1566
01:09:34,874 --> 01:09:37,142
in those tradingplatform
decisions.

1567
01:09:37,177 --> 01:09:39,078
- They're not being honestand
truthful about this.

1568
01:09:39,112 --> 01:09:41,513
- I want to beperfectly clear.

1569
01:09:41,548 --> 01:09:46,318
Citadel Securities had no
rolein Robinhood's decision

1570
01:09:46,353 --> 01:09:48,153
to limit trading in GameStop.

1571
01:09:48,188 --> 01:09:50,055
- So Citadel is a
realconglomerate.

1572
01:09:50,056 --> 01:09:52,291
They have a hedge fund.They
have a broker.

1573
01:09:52,325 --> 01:09:53,592
And they have a marketmaker.

1574
01:09:53,626 --> 01:09:54,793
- Mr. Griffin,

1575
01:09:54,828 --> 01:09:56,628
why is this not
consideredmanipulating a stock

1576
01:09:56,663 --> 01:09:59,498
whenever you can shortsell to
140%?

1577
01:09:59,532 --> 01:10:00,766
Don't youthink there should be
a limit

1578
01:10:00,800 --> 01:10:03,302
on something like that?

1579
01:10:03,336 --> 01:10:05,204
KEN GRIFFIN:I'm not sure it's
worth us

1580
01:10:05,238 --> 01:10:07,373
delvinginto legislative
corrections

1581
01:10:07,407 --> 01:10:09,441
for a very unique situation,

1582
01:10:09,476 --> 01:10:12,444
in terms of the extremesize of
the short interest.

1583
01:10:12,479 --> 01:10:15,614
- Why is it that a stockcan be
shorted over 100%?

1584
01:10:15,648 --> 01:10:17,182
I don't even knowhow you're
allowed to do that.

1585
01:10:17,217 --> 01:10:18,384
CONGRESSMAN: Mr. Plotkin,

1586
01:10:18,418 --> 01:10:20,319
you made the commentin your
testimony a minute ago

1587
01:10:20,353 --> 01:10:23,322
that you were not tryingto
manipulate stock.

1588
01:10:23,356 --> 01:10:27,493
Yet if you're shortselling a
stock 140%,

1589
01:10:27,527 --> 01:10:30,462
explain to me why that'snot
manipulating the stock.

1590
01:10:30,497 --> 01:10:31,697
- Any time we short a stock,

1591
01:10:31,731 --> 01:10:34,366
our systems actually force usto
find a borrower.

1592
01:10:34,401 --> 01:10:36,635
So we alwaysshort stocks within

1593
01:10:36,670 --> 01:10:39,238
the context of all the rules.

1594
01:10:39,272 --> 01:10:41,040
- The fundamental reasonwhy
this happened

1595
01:10:41,074 --> 01:10:42,408
isn't because we wanteda
revolution

1596
01:10:42,442 --> 01:10:44,309
against hedge funds.It was

1597
01:10:44,344 --> 01:10:46,912
because there wasan opportunity
out there

1598
01:10:46,946 --> 01:10:50,082
to form a short squeezeon a
stock

1599
01:10:50,116 --> 01:10:51,550
and make some money off of it.

1600
01:10:51,584 --> 01:10:54,520
And until the rules changethat
you cannot short a stock

1601
01:10:54,554 --> 01:10:57,089
above 100% short interest,then
there's no reason why

1602
01:10:57,123 --> 01:10:59,024
there wouldn't beanother one of
these.

1603
01:10:59,059 --> 01:11:02,061
- I just want to getto what
happened

1604
01:11:02,062 --> 01:11:03,696
on that day in January.

1605
01:11:03,730 --> 01:11:06,065
So let's takea step back here.

1606
01:11:06,066 --> 01:11:07,599
That decision you made,

1607
01:11:07,634 --> 01:11:09,568
to restrict the buying

1608
01:11:09,602 --> 01:11:12,771
but not the sellingof GameStop,
was based--

1609
01:11:12,806 --> 01:11:16,342
was it based on pressurefrom
anyone

1610
01:11:16,376 --> 01:11:18,844
on the witness panelhere today?

1611
01:11:18,878 --> 01:11:20,079
VLAD TENEV:Not at all.

1612
01:11:20,113 --> 01:11:24,183
Zero pressure from anyone.It
was a collateral depository

1613
01:11:24,217 --> 01:11:27,086
requirement decision madeby a
Robinhood

1614
01:11:27,087 --> 01:11:28,687
securities president.

1615
01:11:28,722 --> 01:11:30,789
- Rather than sayingthat
Robinhood was nefarious

1616
01:11:30,824 --> 01:11:32,257
or had an evilintention here,

1617
01:11:32,292 --> 01:11:34,093
it was colluding with
somebodyelse,

1618
01:11:34,094 --> 01:11:36,228
they were probably negligentin
their capital

1619
01:11:36,262 --> 01:11:37,496
and risk controls.

1620
01:11:37,530 --> 01:11:40,799
- The decision to
restrictGameStop and other
securities

1621
01:11:40,834 --> 01:11:43,302
was driven purely by depositand
collateral

1622
01:11:43,336 --> 01:11:45,704
requirementsimposed by our
clearinghouses.

1623
01:11:45,739 --> 01:11:46,972
- Well, when it comes to it,

1624
01:11:47,007 --> 01:11:48,374
they just literallyran out of
money.

1625
01:11:48,408 --> 01:11:49,608
[LAUGHS]

1626
01:11:49,642 --> 01:11:51,110
If they knew that up front,you
know,

1627
01:11:51,144 --> 01:11:52,978
be transparent.

1628
01:11:53,013 --> 01:11:54,613
MAN:The irony of this entire
thing

1629
01:11:54,647 --> 01:11:56,815
is that Robinhoodprovided a
platform

1630
01:11:56,850 --> 01:11:58,317
for all these investorsto pour
into

1631
01:11:58,351 --> 01:11:59,551
the market,

1632
01:11:59,586 --> 01:12:02,154
and they added hundredsof
thousands of new accounts.

1633
01:12:02,188 --> 01:12:04,423
People wanted to attackWall
Street,

1634
01:12:04,457 --> 01:12:05,824
and thereality of the situation

1635
01:12:05,859 --> 01:12:09,962
is they broke Robin Hood.

1636
01:12:10,063 --> 01:12:12,564
Mr. Tenev, you took

1637
01:12:12,599 --> 01:12:16,635
from your customers in orderto
minimize the $3 billion

1638
01:12:16,670 --> 01:12:18,771
from being largerthan it
probably

1639
01:12:18,805 --> 01:12:20,606
would have been

1640
01:12:20,640 --> 01:12:25,477
because you wantedto protect
your position,

1641
01:12:25,512 --> 01:12:27,746
and that is very troubling.

1642
01:12:27,781 --> 01:12:29,448
- They had to sacrificesomebody
in order

1643
01:12:29,482 --> 01:12:30,649
to resolve this,

1644
01:12:30,684 --> 01:12:32,785
and they sacrificed the
peoplethat wanted to diamond

1645
01:12:32,819 --> 01:12:34,586
hands their GameStop.

1646
01:12:34,621 --> 01:12:36,422
And a lot of peoplelost a lot
of money.

1647
01:12:36,456 --> 01:12:37,656
ANDY BARR:So if anyone has a
problem

1648
01:12:37,691 --> 01:12:39,091
with your decisionto halt
trades,

1649
01:12:39,092 --> 01:12:40,993
it's fair to say thattheir
frustration should be

1650
01:12:41,094 --> 01:12:43,829
directed towardfederal
regulation.

1651
01:12:43,863 --> 01:12:45,097
VLAD TENEV:Congressman, you
know,

1652
01:12:45,098 --> 01:12:47,499
I'm not trying to throwanyone
under the bus

1653
01:12:47,534 --> 01:12:49,768
in direct frustrationanywhere.

1654
01:12:49,803 --> 01:12:51,804
All I cansay is Robinhood's
security

1655
01:12:51,838 --> 01:12:55,541
played this by the booksand
played it basically

1656
01:12:55,575 --> 01:12:57,109
the only waythat we could
remain in

1657
01:12:57,143 --> 01:12:59,678
compliancewith our deposit
requirements.

1658
01:12:59,713 --> 01:13:00,879
ANDY BARR:Mr. Tenev, I
appreciate--

1659
01:13:00,914 --> 01:13:02,114
CHRIS GARCIA:Wall Street's got
it

1660
01:13:02,148 --> 01:13:03,849
to where they have every card

1661
01:13:03,883 --> 01:13:06,051
and they knowevery rule of the
game

1662
01:13:06,052 --> 01:13:07,186
to where we're going to

1663
01:13:07,220 --> 01:13:10,856
bend and bend those
ruleswithout breaking them.

1664
01:13:10,890 --> 01:13:13,125
And the problemis what they do,

1665
01:13:13,159 --> 01:13:14,660
us typical little guys will

1666
01:13:14,694 --> 01:13:17,196
never be ableto do that stuff,
right?

1667
01:13:17,230 --> 01:13:18,497
MAXINE WATERS:Mr. Gill,

1668
01:13:18,531 --> 01:13:20,466
you are now recognizedfor five
minutes

1669
01:13:20,500 --> 01:13:22,801
to presentyour oral testimony.

1670
01:13:22,836 --> 01:13:24,570
CHRIS GARCIA: And then
lookwhat's happening, right?

1671
01:13:24,604 --> 01:13:27,973
You got Roaring Kitty out
herewho's getting called in
front

1672
01:13:28,074 --> 01:13:30,075
of anOversight Committee.

1673
01:13:30,110 --> 01:13:32,644
Hey, you did bad.

1674
01:13:32,679 --> 01:13:35,347
You led a group of peopleto do
this.

1675
01:13:35,382 --> 01:13:37,249
KEITH GILL: Thank
you,Chairwoman Waters,

1676
01:13:37,283 --> 01:13:39,385
members of the Committee.

1677
01:13:39,419 --> 01:13:41,387
I'm happy to discusswith the
committee

1678
01:13:41,421 --> 01:13:43,422
my purchases ofGameStop shares

1679
01:13:43,456 --> 01:13:46,592
and my discussions of theirfair
value on social media.

1680
01:13:46,626 --> 01:13:48,861
I also believe the currentprice
of the shares

1681
01:13:48,895 --> 01:13:52,398
demonstrates that I've
beenright about the company.

1682
01:13:52,432 --> 01:13:55,868
A few things I am not.I'm not a
cat.

1683
01:13:55,902 --> 01:13:58,103
I am notan institutional
investor.

1684
01:13:58,104 --> 01:13:59,538
And I do notprovide
personalized

1685
01:13:59,572 --> 01:14:02,608
investment advice for feesor
commissions.

1686
01:14:02,642 --> 01:14:05,210
The idea that I use socialmedia
to promote GameStop

1687
01:14:05,245 --> 01:14:07,179
stock tounwitting investors

1688
01:14:07,213 --> 01:14:10,249
and influencethe market is
preposterous.

1689
01:14:10,283 --> 01:14:12,217
I'm just an individualwhose
investment in

1690
01:14:12,252 --> 01:14:14,586
GameStop and postson social
media

1691
01:14:14,621 --> 01:14:18,624
were based upon my ownresearch
and analysis.

1692
01:14:18,658 --> 01:14:20,859
I want to say that I
supportretail investors'

1693
01:14:20,894 --> 01:14:23,929
right to invest in whatthey
want when they want

1694
01:14:23,963 --> 01:14:25,130
and to send amessage

1695
01:14:25,165 --> 01:14:27,232
based on how they invest.

1696
01:14:27,267 --> 01:14:28,600
As for what happenedin January,

1697
01:14:28,635 --> 01:14:30,636
others will haveto explain it.

1698
01:14:30,670 --> 01:14:32,071
It's alarminghow little we know

1699
01:14:32,072 --> 01:14:34,606
about the inner workingsof the
market.

1700
01:14:34,641 --> 01:14:38,811
As for me, I like the stock.

1701
01:14:38,845 --> 01:14:41,213
(DISTORTED LOW VOICE)I like the
stock.

1702
01:14:41,247 --> 01:14:42,648
- Keith Gill, the legendthat he
is,

1703
01:14:42,682 --> 01:14:44,083
says he likes the stock.

1704
01:14:44,084 --> 01:14:49,088
[ROARING]

1705
01:14:49,089 --> 01:14:50,489
The next day, sure enough,

1706
01:14:50,523 --> 01:14:53,659
he fucking doubled downon his
position.

1707
01:14:53,693 --> 01:14:58,097
And I'm like, Jen.I'm going
back in.

1708
01:14:58,098 --> 01:15:00,265
[MUSIC PLAYING]

1709
01:15:00,300 --> 01:15:10,743
(SINGING) 1, 2. 1, 2. 0, 2.1,
open. 3.

1710
01:15:10,777 --> 01:15:12,177
MATT KELLY:It was the end of
February.

1711
01:15:12,212 --> 01:15:13,679
I just told my jobI'm leaving.

1712
01:15:13,713 --> 01:15:15,114
We're goingand we're moving the
Texas.

1713
01:15:15,148 --> 01:15:16,348
We're buyinga new house.

1714
01:15:16,383 --> 01:15:19,685
And it shoots back up.

1715
01:15:19,719 --> 01:15:24,957
So literally, the same day,like
20 minutes before--

1716
01:15:25,058 --> 01:15:26,291
it starts going up from--

1717
01:15:26,326 --> 01:15:27,793
it starts going $40, $50,$60,
$70.

1718
01:15:27,827 --> 01:15:30,162
It goes up to like $180that
day.

1719
01:15:30,196 --> 01:15:31,797
I'm sitting therewatching the
ticker,

1720
01:15:31,831 --> 01:15:33,098
and I'm like,I need to do this
now.

1721
01:15:33,133 --> 01:15:34,433
I need tosell out,

1722
01:15:34,467 --> 01:15:35,968
because I was in other
stuff.And I was like,

1723
01:15:36,069 --> 01:15:38,537
I need to sell for a lossand
get back in right now.

1724
01:15:38,571 --> 01:15:40,839
And Ifucking do it.

1725
01:15:40,874 --> 01:15:47,079
And I'm holding 2,000
sharesagain of GameStop.

1726
01:15:47,080 --> 01:15:51,483
I'm not selling it for lessthan
what I think it's worth,

1727
01:15:51,518 --> 01:15:53,485
and whatI think it's worth is
way more

1728
01:15:53,520 --> 01:15:55,721
than what they wantto pay for
it.

1729
01:15:55,755 --> 01:15:59,892
So I'm holding fora million
dollars a share.

1730
01:15:59,926 --> 01:16:03,028
I'm holding for the MOASS,the
squeeze.

1731
01:16:03,029 --> 01:16:04,396
Nobody knowswhat it can go to.

1732
01:16:04,431 --> 01:16:05,631
This has neverhappened before,
and

1733
01:16:05,665 --> 01:16:07,800
it probably will neverhappen
again.

1734
01:16:07,834 --> 01:16:09,068
It could come now.

1735
01:16:09,102 --> 01:16:10,703
It could come infive years from
now.

1736
01:16:10,737 --> 01:16:14,073
It's turned into along-term
investment for me.

1737
01:16:14,107 --> 01:16:20,179
[EXPLOSION]

1738
01:16:20,213 --> 01:16:22,181
I'm hoping this is the
biggesttransfer of wealth

1739
01:16:22,215 --> 01:16:24,416
that's ever happenedin history.

1740
01:16:24,451 --> 01:16:27,419
(SINGING) 1, 2.

1741
01:16:27,454 --> 01:16:30,556
I'm still holding.[LAUGHS]

1742
01:16:30,590 --> 01:16:33,525
And then from there,it ran up
to $180.

1743
01:16:33,560 --> 01:16:37,096
It went up to $350.Back down to
$100.

1744
01:16:37,130 --> 01:16:41,667
Back, you know, because of
thefuckery that's happening

1745
01:16:41,701 --> 01:16:44,069
and the manipulationthat's
happening.

1746
01:16:44,070 --> 01:16:46,872
It's not followingany
tradition.

1747
01:16:46,906 --> 01:16:48,173
So in the lastthree months,

1748
01:16:48,208 --> 01:16:50,242
I've just been doing research,

1749
01:16:50,276 --> 01:16:52,077
learning abouthow the market
works,

1750
01:16:52,078 --> 01:16:53,846
how often are they doingthis?

1751
01:16:53,880 --> 01:16:55,414
And is GameStop specialin a way

1752
01:16:55,448 --> 01:16:57,282
that this is the first
timethey've ever done it?

1753
01:16:57,317 --> 01:16:58,550
Or is it specialin the way that

1754
01:16:58,585 --> 01:17:00,452
they've done this forever?So
people say,

1755
01:17:00,487 --> 01:17:02,254
oh, they haven't learnedfrom
the financial crisis.

1756
01:17:02,288 --> 01:17:04,189
They haven't learnedfrom 2008.
But they did learn.

1757
01:17:04,224 --> 01:17:05,724
They learned that there'sno
consequences

1758
01:17:05,759 --> 01:17:19,838
for their actions.

1759
01:17:19,873 --> 01:17:29,915
[NON-ENGLISH SPEECH][MUSIC
PLAYING]

1760
01:17:29,916 --> 01:17:39,925
[NON-ENGLISH SPEECH][MUSIC
PLAYING]

1761
01:18:20,834 --> 01:18:24,103
ALVAN CHOW:When Elon tweeted
after-hours,

1762
01:18:24,137 --> 01:18:25,371
I remember texting my dad.

1763
01:18:25,405 --> 01:18:28,540
I was like, OK,this is the top
for sure.

1764
01:18:28,575 --> 01:18:31,810
So I soldeverything after he
did that.

1765
01:18:31,845 --> 01:18:35,514
So by the skin of my teeth,I
escaped that.

1766
01:18:35,548 --> 01:18:38,851
I mean, this $8 millionis kind
of like--

1767
01:18:38,885 --> 01:18:42,354
I'mlike just eating scraps

1768
01:18:42,389 --> 01:18:44,690
that are left overfrom a
massive battle.

1769
01:18:44,724 --> 01:18:51,397
I think I'm a really smallfish
in a very crazy event.

1770
01:18:51,431 --> 01:18:55,367
I'm just opportunistic.

1771
01:18:55,402 --> 01:19:03,242
- I put $40,000 in and
walkedaway with over $1.6
million.

1772
01:19:03,276 --> 01:19:05,911
My last day at workwas on
Friday.

1773
01:19:06,012 --> 01:19:09,648
- OK, so after a few weeks,I
was just like, fuck it.

1774
01:19:09,683 --> 01:19:15,487
And I cashed out and I
wentstraight into crypto.

1775
01:19:15,522 --> 01:19:18,057
So that's all Ido now is
crypto.

1776
01:19:18,091 --> 01:19:20,426
- I lost money.

1777
01:19:20,460 --> 01:19:21,727
DIRECTOR: Say more. Say more.

1778
01:19:21,761 --> 01:19:23,028
- Nothing. I lost money.

1779
01:19:23,029 --> 01:19:24,229
There's nothingmore to be said.

1780
01:19:24,264 --> 01:19:27,700
It's a stock. You lose moneyand
you move on. That's it.

1781
01:19:27,734 --> 01:19:28,901
I didn't lose a child.

1782
01:19:28,935 --> 01:19:30,703
I didn't lose a wife.I lost
money.

1783
01:19:30,737 --> 01:19:31,904
If you want to do thisfor a
living,

1784
01:19:31,938 --> 01:19:33,172
you're going to losemoney.

1785
01:19:33,206 --> 01:19:35,074
You want to be a Kung Fufighter
and not get hit?

1786
01:19:35,108 --> 01:19:40,245
Don't be a Kung Fu fighter,or
go play on video games.

1787
01:19:40,280 --> 01:19:42,414
- Did you know that you
canstart making passive income

1788
01:19:42,449 --> 01:19:44,516
just for holdingsome of your
favorite stocks?

1789
01:19:44,551 --> 01:19:46,051
I start trading and don't
knowhow to start?

1790
01:19:46,086 --> 01:19:47,786
I got you. You're not going
toget rich overnight doing this

1791
01:19:47,821 --> 01:19:49,054
and the market's

1792
01:19:49,089 --> 01:19:50,356
not alwaysgoing to be nice to
you.

1793
01:19:50,390 --> 01:19:52,858
When I started all of this,I'd
never even had any idea

1794
01:19:52,892 --> 01:19:54,960
that, one,it would really be an
income.

1795
01:19:55,061 --> 01:19:56,261
Now I can be aninfluencer

1796
01:19:56,296 --> 01:19:58,263
and be a fin influencer.

1797
01:19:58,298 --> 01:20:00,933
The finance influencers isthe
new term people call it.

1798
01:20:00,967 --> 01:20:05,537
And that's where we'reat now.

1799
01:20:05,572 --> 01:20:07,306
MAN: The whole premiseof
WallStreetBets

1800
01:20:07,340 --> 01:20:09,541
is to make money quickly

1801
01:20:09,576 --> 01:20:12,644
and do it in a waythat's not
healthy.

1802
01:20:12,679 --> 01:20:14,046
And whenyou do make all that
money,

1803
01:20:14,080 --> 01:20:16,215
you don't even know whatto
fucking do with all of it.

1804
01:20:16,249 --> 01:20:19,985
Honestly, that's why I
likeyou'll YOLO'd it away.

1805
01:20:20,020 --> 01:20:22,988
Because I wasn'treally happier.

1806
01:20:23,023 --> 01:20:25,457
I wasn't happier at all.

1807
01:20:25,492 --> 01:20:32,231
[FIREWORKS]

1808
01:20:32,265 --> 01:20:33,432
CHRIS GARCIA:The one thing

1809
01:20:33,466 --> 01:20:34,733
that I've noticedfrom the
people

1810
01:20:34,768 --> 01:20:37,936
that have gotten rich quickis
they're never here a year

1811
01:20:37,971 --> 01:20:41,106
afterwards. You know,they'll
make the news today.

1812
01:20:41,141 --> 01:20:42,841
They might do some fun stuff.

1813
01:20:42,876 --> 01:20:45,344
But if you don't learn how
tomanage your money

1814
01:20:45,378 --> 01:20:49,982
or learn how to manage
wealth,you won't keep that
wealth.

1815
01:20:50,016 --> 01:20:52,818
Be Warren Buffett, dude.Make
your money in your 60s.

1816
01:20:52,852 --> 01:20:54,820
Who cares?Like age isn't a
thing,

1817
01:20:54,854 --> 01:20:56,422
and enjoy the 20years

1818
01:20:56,456 --> 01:20:58,457
it'll take you to becomean
overnight success

1819
01:20:58,491 --> 01:21:02,094
because when you'rean overnight
success,

1820
01:21:02,128 --> 01:21:06,799
what happensafter that?

1821
01:21:06,833 --> 01:21:12,705
- Mmm. This might soundreally,
really crazy,

1822
01:21:12,739 --> 01:21:14,773
but what I've donewith my
portfolio

1823
01:21:14,808 --> 01:21:18,310
in crypto these past
fivemonths,

1824
01:21:18,345 --> 01:21:25,351
I know I'm set for life.I just
have to hold. Dead ass.

1825
01:21:25,385 --> 01:21:27,286
SIR JACKALOT:Who says a stock
price

1826
01:21:27,320 --> 01:21:31,357
has to be calculatedbased off
cash flow?

1827
01:21:31,391 --> 01:21:33,325
I mean, it's just what
peopleare willing to pay

1828
01:21:33,360 --> 01:21:35,394
for it.

1829
01:21:35,428 --> 01:21:42,101
And again, what's morallyor
ethically wrong with that?

1830
01:21:42,102 --> 01:21:43,402
That's just the game.

1831
01:21:43,436 --> 01:21:45,337
[MUSIC PLAYING]

1832
01:21:45,372 --> 01:21:55,414
(SINGING)

1833
01:21:55,415 --> 01:22:05,424
(SINGING)

1834
01:22:21,641 --> 01:22:24,710
There once was a stockthat put
to sea.

1835
01:22:24,744 --> 01:22:27,179
The name of the stock was GME.

1836
01:22:27,213 --> 01:22:29,581
The price blew up and theshorts
dipped down.

1837
01:22:29,616 --> 01:22:30,916
Hold my bully boys, hold.

1838
01:22:30,950 --> 01:22:32,184
[GRUNTS]

1839
01:22:32,218 --> 01:22:34,086
Soon may the Tendieman

1840
01:22:34,087 --> 01:22:37,089
come to send a rocketinto the
sun.

1841
01:22:37,123 --> 01:22:39,258
One day whenthe trading is
done,

1842
01:22:39,292 --> 01:22:41,894
we'll take ourgains and go.

1843
01:22:41,928 --> 01:22:44,430
She had not beentwo weeks from
shore

1844
01:22:44,464 --> 01:22:47,132
when Ryan Cohenjoined the
board.

1845
01:22:47,167 --> 01:22:48,867
The captain called "allhands"

1846
01:22:48,902 --> 01:22:51,103
and swore he'd takehis shares
and hold.

1847
01:22:51,137 --> 01:22:52,304
[GRUNTS]

1848
01:22:52,339 --> 01:22:54,139
Soon may the Tendieman

1849
01:22:54,174 --> 01:22:57,276
come to send a rocketinto the
sun.

1850
01:22:57,310 --> 01:22:59,411
One day whenthe trading is
done,

1851
01:22:59,446 --> 01:23:02,147
we'll take ourgains and go.

1852
01:23:02,182 --> 01:23:04,750
Before the newshad hit the
market,

1853
01:23:04,784 --> 01:23:07,119
WallStreetBets came upand
bought it.

1854
01:23:07,153 --> 01:23:08,387
With diamond hands

1855
01:23:08,421 --> 01:23:11,123
they knew they'd profit,if they
could only hold.

1856
01:23:11,157 --> 01:23:12,391
[GRUNTS]

1857
01:23:12,425 --> 01:23:14,727
- Is there anything in
therethat could get me
canceled?

1858
01:23:14,761 --> 01:23:16,095
DIRECTOR: Huh?

1859
01:23:16,129 --> 01:23:17,896
- Is there anything in
therethat could get me canceled

1860
01:23:17,931 --> 01:23:19,264
or fired from my job?

1861
01:23:19,299 --> 01:23:29,341
[MUSIC PLAYING]

1862
01:23:29,342 --> 01:23:39,351
[MUSIC PLAYING]