Titled Dumb Money, a new film by Craig Gillespie brings the bizarre story of Keith Gill and Gamestop stock to the big screen in a new blockbuster film.
With an impressive cast that includes Oscar nominated actors Paul Dano and Seth Rogen, Dumb Money will follow the tale of a group of small time investors that managed to bring hedge funds and Wall Street itself to a stand still and briefly thwarted them.
Seen as rebels amongst the public, Gill changed the world with his Reddit posts and YouTube channel and now his story will be put onto the big screen in 2023.
What is Dumb Money about
The film is based on the book The Antisocial Network by Ben Mezrich, or The Antisocial Network: The GameStop Short Squeeze and the Ragtag Group of Amateur Traders That Brought Wall Street to Its Knees to give it the full title, which was released in 2021.
The official film of the synopsis says: "Everyday people flip the script on Wall Street and get rich by turning GameStop into one of the world's hottest companies. In the middle of everything is Keith Gill, a regular guy who starts it all by sinking his life savings into the stock. When his social media posts start blowing up, so does his life and the lives of everyone following him. As a stock tip becomes a movement, everyone gets wealthy - until the billionaires fight back and both sides find their worlds turned upside down."
You can watch the trailer for the film here.
Dumb Money cast
Paul Dano (The Batman) will play the lead role of Keith Gill, the man who brings Wall Street to a standstill, with Pete Davidson (Bodies Bodies Bodies) stars as Kevin Gill, Keith's brother.
Elsewhere, Vincent D'Onofrio (Full Metal Jacket) stars as Steve Cohen, America Ferrera (Barbie) is Jennifer Campbell, a viewer of Keith's YouTube channel, while Seth Rogen (The Fabelmans) is Gabe Plotkin and Nick Offerman (Parks and Recreation) plays Kenneth C. Griffin.
There are also confirmed roles for Anthony Ramos as Marcus, a GameStop store clerk, Sebastian Stan as Vlad Tenev, Shailene Woodley as Caroline Gill, Keith's wife, Dane DeHaan as Marcus's boss, Myha'la Herrold as Riri, an investor with Marcus, Rushi Kota as Baiju Bhatt and Talia Ryder is Harmony, an investor with Marcus.
Is Dumb Money a true story, what did Keith Gill do what is GameStop
The film is indeed a true story and follows the fascinating tale of Keith Gill and his relationship to GameStop Corp. - an American video game, consumer electronics, and gaming merchandise retailer.
Gill, who is also known as under the Reddit username 'DeepF**kingValue (DFV)' and on YouTube and/or Twitter as 'Roaring Kitty' rose to fame when he began to analyse GameStop stock. Back in 2019, he posted screenshot on Reddit of a trade consisting of a roughly $53,000 long position in GameStop. He argued that through fundamental and technical analysis that the GameStop stock was undervalued. Shortly afterwards "a flood of retail cash" into the store and its valuation spiked.
In short, Gill's investment into the GameStop stock stock in June 2019 (which was $5 per share at the time) inspired others to invest, known as the GameStop Short Squeeze, which caused several hedge funds and other investors to suffer significant financial difficulty while retail investors gained large gains. Within seven months, Gill's investment had reached $48 million.
However, with Gill being a former employee of MassMutual - a Life Insurance & Financial Services company - an investigation began into whether he broke any company rules by investing in the GameStop stock, with accusations that he engaged in market manipulation, but he always maintained that he did not provide investment advice in exchange for money. While he told the House Financial Services Committee that he did "did not solicit anyone to buy or sell the stock for my own profit", MassMutual were fined $4 million for failing to supervise Gill's trading and online activity.
In October 2021, the Exchange Commission issue a large report which stated: "People may disagree about the prospects of GameStop and the other meme stocks" and did not indicate that any market manipulation had occurred in regards to Keith Gill.
Where is Keith Gill now
Allegedly far richer than he ever has been, Gill is living in relative obscurity. He is reported to have had gains of $35 Million in just 48 hours and losses of $13 Million in one day plus a $30 Million gain over two weeks, though it has never been confirmed whether he has cashed in on any of his shares.
He no longer works for MassMutual, though he has continued to invest in GameStop, according to reports, standing by his initial assessment that the company would turnaround.
His YouTube channel Roaring Kitty still has over half a million subscribers despite Gill not posting on the channel for two years.
When is Dumb Money released in UK cinemas, Dumb Money run time and age rating
The film is released across cinemas worldwide on September 22, with chains such as Cineworld and Odeon already taking bookings for the film.
It has a run time of one hour and 44 minutes, while the BBFC are yet to hand the film an age rating. The trailer is rated as a U.