The stock where ants united to take down Goliath ‘True story’

[Reporter Jang Hye-ryeong]

​Movie <Dumb Money> Still cut
ⓒ Green Narae Media Co., Ltd.

Something incredible happened in the United States in 2021. The ‘GameStop stock price skyrocketing incident’ occurred in which the unity of a small number overtook huge capital, and individual investors came together against the large-scale short-selling investment of a large hedge fund, causing the GameStop stock price to skyrocket. The title ‘Dumb Money’ is a phrase used on Wall Street to disparage individual investors. It marks the beginning of the never-ending battle between David and Goliath.

“I Tonya,” which tells the true story of figure skating athlete Tonya Harding, and “Craig Gillespie,” who directed Disney’s villain and young Cruella spinoff “Cruella.” The director’s spicy directing worked once again. Even alienated and hated characters become attractive through his hands. He is an excellent director at digging into complex inner thoughts and bringing out the multi-layered and human sides.

It attracts attention with its sharp perspective on the incident, humor, insight, and dramatic direction that provides lessons. All of Hollywood’s most talented actors showed up. The synchronization with real people is also significant.

The fight between Goliath and David in the 21st century

​Movie <Dumb Money> Steel
ⓒ Green Narae Media Co., Ltd.

In 2021, when the COVID-19 pandemic was in full swing, people needed something to rely on due to continued isolation and vague fear. At that time, the corner stock YouTuber ‘Roaring Cat (Paul Dano)’who appeared like a comet’started to argue for value investment in ‘GameStop’, an American offline retail store specializing in video games..

In his personal time, he is a YouTuber who dresses as a cat character and wears a red headband, but in his real life, he is an employee of the insurance company MassMutual and a father of one child, and he has a fandom. At the time, GameStop was recording consecutive losses and becoming prey to short selling on Wall Street. He gained great popularity by disclosing his GameStop investment profits and losses and portfolio on Wall Street Bets (WSB), a stock investment bulletin board in the American online community Reddit.

The analysis was reliable information for individual investors, and GameStop’s stock price soared more than 100% in a day and more than 1,600% in a year. As a result, the losses of hedge fund companies increase exponentially, leading to bankruptcy.
Let’s just survive! Unity of ants

​Movie <Dumb Money> Still cut
ⓒ Green Narae Media Co., Ltd.

The film shows the process of overthrowing an unfair capital system that was thought to never happen. As if to prove the saying that even earthworms squirm when stepped on. The ending is obvious with just a tap of your finger, but the charm of the story has led to it being made into a book (non-fiction) and a movie. After the situation in January and February 2021, work on the script began in April and was filmed in 31 days during the pandemic. It was a quick move that succeeded in making it into a movie three years later.

<The Wolf of Wall Street>, which focuses on finance and stocks, <Margin Call: 24 Hours, Fabricated Truth>, <Big Short>, <Last Home>, which covers the 2008 subprime financial crisis. If you enjoyed >, I recommend it. Difficult terms that finance-related movies struggle with are explained metaphorically by connecting them to real life as much as possible. The story is told easily and concisely so you can focus during the running time without getting bored.

The sensuous editing and music invited even audiences who were not familiar with stocks to participate in the thrilling true story. To give the charm of a true story, actual videos, photos, and memes were included. I filled my fictional imagination with each character’s narrative. The stock ‘I don’t know much’ is also a fun movie to watch, drawn in by the actors’ acting and an amazing story.

We cannot ignore the special luck of the pandemic. It was a time when everyone was stuck at home, getting information and meeting online, so there was ample opportunity to come together. The main factors were the emergence of Robinhood (app), which allows easy buying and selling of stocks, and proof shots and memes spreading through YouTube and TikTok. Above all, this incident cannot be discussed without mentioning ‘Keith Gill’. This is because trust was built up through the sincere words and actions of real people, which became fuel for the flames to burn brightly. The acting of Paul Dano, who is loved for his colorful characters, consistently helps increase concentration.

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