Just watched this on Netflix, it's another take on GME and Wall Street Bets.
Paul Dano as Keith Gill is pretty much perfect casting, and Seth Rogen as Gabe Plotkin definitely works. Pete Davidson is terrific as his brother.
Overall, it's a good dramatization of events, although this is the second movie that glosses over (or completely misses) the whole point of Gill's move. He wasn't trying to start a financial revolution or take down a hedge fund, he just saw an undervalued stock and made a significant bet on the market correcting itself and realizing its true value.
Gamestop had a ton of cash on its books, and he knew a stock buyback would push the value of the stock up; that was his value play. Michael Burry (The Big Short) also saw the same value and bought GME for the same reason.
One key element they ignored is he didn't buy $53k of GME stock, he spent $53k buying call options on GME. When he started buying options, GME was trading at $3.25 a share, he bought options for $5, $8, $10, and $15. The $15 options were LEAPs over a year out. When they had the infamous scene with him drinking champagne on YouTube, it was because GME was up to $12 a share and put his $8 calls comfortably in the money.
Another gripe: The scene with Jennifer at the gas station was completely unrealistic. Someone with $5k in stock isn't going to be able to obtain $91k in margin to buy call options.
One of the best lines in the movie comes from Marcos, when he asks "Yeah, but do any of them play video games?" about GME's corporate leadership. He highlights one of the biggest issues with the company right there.
You can see the liberal media bias in how they portrayed the Congressional hearing. I watched part of it, and the members of Congress asking questions were ****ing idiots. They completely glossed over their financial ignorance because they can't let Waters or AOC look bad.
Other than those issues, it is a pretty solid watch. The soundtrack is also pretty solid.
Paul Dano as Keith Gill is pretty much perfect casting, and Seth Rogen as Gabe Plotkin definitely works. Pete Davidson is terrific as his brother.
Overall, it's a good dramatization of events, although this is the second movie that glosses over (or completely misses) the whole point of Gill's move. He wasn't trying to start a financial revolution or take down a hedge fund, he just saw an undervalued stock and made a significant bet on the market correcting itself and realizing its true value.
Gamestop had a ton of cash on its books, and he knew a stock buyback would push the value of the stock up; that was his value play. Michael Burry (The Big Short) also saw the same value and bought GME for the same reason.
One key element they ignored is he didn't buy $53k of GME stock, he spent $53k buying call options on GME. When he started buying options, GME was trading at $3.25 a share, he bought options for $5, $8, $10, and $15. The $15 options were LEAPs over a year out. When they had the infamous scene with him drinking champagne on YouTube, it was because GME was up to $12 a share and put his $8 calls comfortably in the money.
Another gripe: The scene with Jennifer at the gas station was completely unrealistic. Someone with $5k in stock isn't going to be able to obtain $91k in margin to buy call options.
One of the best lines in the movie comes from Marcos, when he asks "Yeah, but do any of them play video games?" about GME's corporate leadership. He highlights one of the biggest issues with the company right there.
You can see the liberal media bias in how they portrayed the Congressional hearing. I watched part of it, and the members of Congress asking questions were ****ing idiots. They completely glossed over their financial ignorance because they can't let Waters or AOC look bad.
Other than those issues, it is a pretty solid watch. The soundtrack is also pretty solid.
