WEBVTT FILE

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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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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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got fedup with being told

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

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Frankly,that's just not
realistic

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for our generation.

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You know,it is really
frustrating.

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The boomers,they think we're
lazy.

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You know the whole term,

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pull up your bootstrapsand work
hard

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and you get the same lifethat
they had?

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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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I ain't got timeto wait for
retirement.

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You got to will itinto
existence.

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Life's just not fair.The world
is a harsh place

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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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it's making me sick.

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REPORTER: This is
populismcoming for capitalism.

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GameStop.

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GameStop.

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MATT KELLY: On surface,I can be
pretty scattered.

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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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and everything is quiet.

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You hear your bubbles.You hear
breathing.

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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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so looking forunderwater IEDs,

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things like that.

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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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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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School pictures,baseball
picture day,

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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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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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REPORTER:They are saying we are

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on the vergeof a medical
disaster.

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[CLANGING]

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REPORTER:Millions of Americans

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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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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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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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OK, like we need

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to figure out a wayto save some
money

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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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passed a $2 trillionstimulus
package that will--

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REPORTER: Biggest bailoutin
American history.

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REPORTER: Economic activity.

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REPORTER:Close their
businesses,

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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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it'll take its timebut I'll get
some winners.

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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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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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and have beautifulmoney babies?

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Do you haveinvestment accounts
you don't

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understand or pay attention

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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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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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MAN: In a small,exceptionally
unhelpful,

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and irreverent cornerof the
internet,

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therein lies a battalionof
nihilistic

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meme lords

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who discuss their positionsand
strategies,

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speculate and argueover the
markets moving,

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and provide sage advice

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to the humble stock trader

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who just so happens to
stumbleupon this fine
community.

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(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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and I would like to
stayanonymous.

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MATT KELLY:I started telling my
friends,

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I'm like, dude,this is a crazy
subreddit.

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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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over the last year.I was like
this sounds

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like my kind of place.

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CHRIS GARCIA: You would seethe
success stories of dudes

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who made a random call andthey
came out with 100 grand.

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- Nice. Well, he's goingto get
fucked on taxes.

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Have fun with that.

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[MUSIC PLAYING]

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WOMAN: A fucking bros'
club,which was kind of fun.

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- I said words on there thatI
would never say in public.

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- And I'm hearing about likeall
these different lingos

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that are kind of fun.

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I'm like, ooh, diamond hands,

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like paper hands.Like, I'm a
bro now.

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00:09:00.473 --> 00:09:03.108
- The whole joke is,
like,diamond hands.

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You just have to notreally
treat it like money.

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And that's when I took350K,

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and I just like YOLO'dthe fuck
out of it.

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SIR JACKALOT:If you're like me,

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you're watching every minuteof
your favorite stock

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during the day.You want to be
able to be

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with your people,

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all screaming in terrorif
something falls.

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The stocks are going to go up.

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They're also going to go down.

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The important thingis just hold
on.

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SIR JACKALOT:I got the memes.

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I'm, like,put in rocket emojis

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00:09:31.805 --> 00:09:34.039
when you thinkyou're going to
be rich.

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Ape alone, weak.

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Apetogether, strong.

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[LAUGHS]It's so true.

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MIKEYMILLIONS:The ape is

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00:09:42.949 --> 00:09:45.451
the unsophisticated
investor.You can go to
WallStreetBets,

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00:09:45.485 --> 00:09:46.952
tell them thatyou're going to
buy shares

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00:09:47.053 --> 00:09:48.153
of a dying company,

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00:09:48.188 --> 00:09:51.256
and you willreceive accolades.

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KIRSTEN:At this point, I really
still

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had not a single amountof
technical analysis

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or able to doanything like that

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in the stock market.

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But I knew, you know,buy low,
sell high.

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00:10:01.201 --> 00:10:05.104
My name is Kirsten,and I am
Stonk Queen.

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00:10:05.138 --> 00:10:07.673
WOMAN: So I'm learningall these
different things,

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00:10:07.707 --> 00:10:10.309
and it's like, buy AMC.Buy
BlackBerry.

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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]