R-Rated True Story Netflix Comedy Turns Truth Into Hilarity
For anyone who hasn’t seen Dumb Money, whether you’re familiar with the GameStop Wall Street scandal or not, this movie is a must-see. It’s rich with information, well directed, and has fun and funny moments thanks to the cast of incredible actors. It’s a true story that comes to life in the best way.
The Real-Life Story Behind Dumb Money
I had very little knowledge about what was happening back in July of 2020, at the height of the global pandemic. All I knew was that some people made a bunch of money from GameStop stocks and others lost a bunch of money. As I’ve never been a day trader or interested in stock in any form, I figured it didn’t really affect me except that it was a story of “the little guy” winning.
It would be years before I heard of the scandal again, when Dumb Money came to theaters.
Keith’s Financial Insights
In Dumb Money, we meet Keith Gil (Paul Dano), a middle class man who is down on his luck, living with his wife Caroline (Shailene Woodley) and his child, all while struggling to make ends meet during the COVID-19 pandemic. We learn that Keith lost his sister to the virus six months prior, and that his brother, Kevin (Pete Davidson) is a bit of a loser who takes nothing seriously.
We also discover in an early scene that Keith is quite the financial prodigy. We see him having lunch with a slick trader friend who urges him to get back in the game.
Most Revolutions Start With Trolling
Instead, Keith takes to his basement and starts a revolution of sorts in Dumb Money. Keith has a Reddit account called Roaring Kitty, and he uses this profile on a stock market subreddit called r/WallStreetBets. He posts funny memes of cats, and he offers his opinion through his YouTube channel on various trade choices. He gains quite a following, and he’s apparently been telling his followers that he believes in the value of GameStop. In fact, he has bet his life savings that GameStop stock will turn around.
Lowering The Price Leads To Paying The Price
Meanwhile, we see that several prominent hedge funds, including Melvin Capital Management, founded by Gabe Plotkin (Seth Rogen), are betting that GameStop will fail by short selling the stock. By short selling the stock, these wealthy investors have temporarily lowered the price, allowing everyday traders to buy the stock and follow Keith’s advice. However, the more these average traders buy, the higher the stock rises, and the more they stand to gain.
A Small Win For The Average Joe
Dumb Money gives us a few personal examples of the day traders following Keith’s advice. We meet a single mom and nurse, Jenny (America Ferrera), a lesbian couple, Riri and Harmony (Myha’la Herrold and Talia Ryder), and even a GameStop employee, Marcos (Anthony Ramos). Each one continues to trust Keith as he holds strong on the GameStop stock, especially once he realizes what the hedge fund owners are trying to do.
A Hilarious Take On A Complex Situation
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This story becomes one of Wall Street’s overpowering control of the stock market when the subreddit thread is shut down for “inflammatory and vulgar content,” rendering the communication between Keith and his followers mute. When the commission-free stock trading website Robinhood puts a stop to all GameStop purchases, the U.S. government gets involved, and subpoenas are sent out.
It’s a wild ride, from beginning to end, and while Dumb Money can’t tell the whole story of a complex situation like this one, it does a good job of getting the important points across.
Dumb Money gets the utmost praise from me for great writing, directing, and acting, and for taking on an important story about everyday people. Stream it on Netflix now.
