You Should Watch Dumb Money

Few days ago I talked about watching the movie behind the Gamestop event, so I can understand what happened. Well, I am done with the movie and I am back to tell you that the movie was really great. The movie just showes you how the whales and the rich try to profit off retail traders, its a fair game when the rich is profiting off retail traders but its a crime when retail traders are profiting off them. Dumb money is about a young man, who has a wife and a daughter who is less than 1 year old, but he loves the stock market so much. He makes videos about the stock market on YouTube and reddit. He has been studying the GameStop stock for a while and realised that the stock has been undervalued for a long time. Why is it undervalued? Its undervalued because hedge funds short it because they think its not going to make money, they think the company is a failure and dont know what it is doing.

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Fortunately, the young reddit guy invested $53k into it, talked about it on reddit and people decided to buy it. It became a movement of the poor trying to eat the rich situation. When demand of a large group supersedes the demand of a heavy small group, the large group ends up winning. More people started buying making the price of GameStop increase, making the short position of the hedge funds run at loss. Robin hood, being a company that made stock buying easy, decided to stop the buying action of Gamestop stock to disallow investors from investing and making the price higher.thisis considered cheating and this is a very bad act, the community should always come first, restricting the community from buying the GameStock shares already made the community angry and they feel like robin hood neglected them and doesn’t have their best interest at heart.

Unfortunately for robin hood, after they IPOd, it is currently trading below all time high now, like 90% below. The reddit guy made over $30 Million from his $53k investment, lots of people made money from the GameStop movement, hedge funds stopped doubting the power and the movement of the community, and that changed the entire game. Hedge funds lost money and the commuinity won. If I am not mistaking I think that gave birth to shitcoin and memecoin run, making it possible for shitcoins and memecoins to make over 100X within a short time.

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