Essential. ABC News’ (53 minute) soup-to-nuts exposé of the “Gamestonk” story, tells you most of what you need to know about this cataclysmic moment in the history of Wall Street.
Dave Portnoy (Founder, Barstool Sports) calls Wall Street, “the world’s biggest casino.” The label seems apt for an economic arena controlled by crusty white dudes trying hard to keep anyone from crashing their party of riches.
Enter an avid GameStop Reddit community (wallstreetbets), equipped with a free stock trading app (Robinhood), to rally together to take down cynical Wall Street short-sellers by purchasing loads of GameStop stocks. Then, Elon Musk chimed in, and the GameStop rocket soared.
Leave it to ABC News to crank out a super-pro documentary, complete with repeated chyrons so you can always identify talking heads such as Vlad Tenev (Co-Founder & Co-CEO, Robinhood), Keith Gill (a.k.a. Roaring Kitty), and Danny Moses (Founder, Moses Ventures).
The doc is worth watching if only for GameStop stock-holder Jaydyn Carr’s (10 years-old) great explanation of “short-selling.” From the looks of this sea change moment, Wall Street is about to become a much more diverse playing field. Here comes the little people taking a place at the Wall Street table for real.
Not Rated. 53 mins.
Groupthink doesn't live here, critical thought does.
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