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This fall, moviegoers can expect the highly anticipated release of Dumb Money, an intriguing biographical comedy-drama set during the GameStop short squeeze events of January 2021. The film is slated for release on September 22, 2023.
The astonishing turn of events during the time captured widespread attention and was quickly translated into a non-fiction book, titled The Antisocial Network by Ben Mezrich in 2021, and a Netflix documentary, titled Eat the Rich: The GameStop Saga, in 2022.
Mezrich, known for his book The Accidental Billionaires, which served as the basis for Aaron Sorkin's film The Social Network, continues to enjoy his books being adapted into movies, the latest being Dumb Money. This film will undoubtedly contribute to the growing collection of movies based on extraordinary success stories and audacious financial ventures.
Dumb Money is about the GameStop stock market squeeze
Sony Pictures released the official red-band trailer for the movie on June 22, 2023. The trailer follows Keith Gill's journey as a YouTuber, while hedge fund managers set out to take him down. The official synopsis of the movie, via Sony, reads:
"Dumb Money is the ultimate David vs. Goliath tale, based on the insane true story of everyday people who flipped the script on Wall Street and got rich by turning GameStop, the mall videogame store, into the world's hottest company."
It further states:
"At the center of it all is regular guy Keith Gill (Paul Dano), who starts it all by investing his life savings into the stock and sharing about it online. As his social media posts gain traction, his life and the lives of those following him are transformed."
The trailer provides a glimpse into the perspectives of different characters involved in the GameStop short squeeze, from the amateur investors who caused the stock to soar to the billionaire hedge fund managers desperately trying to salvage their financial empires. It showcases the tension and chaos that ensued as the stock market was upended by a group of internet-driven investors.
During this time, GameStop's stock experienced a sudden surge in price, leading to significant losses for hedge funds and individual short sellers, including Melvin Capital. This short squeeze, driven by a Reddit community on the WallStreetBets subreddit, showcased how everyday people and internet users could take control of the stock market, creating an underdog story that captured the attention of social media and the news.
While the economic complexity may have been downplayed by meme culture, the GameStop events highlighted the power of online communities and their ability to influence stock prices. These events involved the sudden surge in GameStop stock prices, resulting in a shocking impact on Wall Street and substantial losses for hedge funds and individual short sellers, totaling nearly $6 billion.
The cast and crew of Dumb Money
Dumb Money features an ensemble cast including Paul Dano as Keith Gill, Seth Rogen as hedge fund CEO Gabe Plotkin, Sebastian Stan as Robinhood CEO Vlad Tenev, and Pete Davidson as Keith's brother, Kevin. Other notable actors playing key roles in the film include Shailene Woodley, Dane DeHaan, Anthony Ramos, America Ferrera, and Vincent D'Onofrio.
Craig Gillespie will be directing and producing the upcoming comedy-drama. His filmograpgy includes films such as Lars and the Real Girl, Fright Night, and the Oscar-nominated I, Tonya. Gillespie has also directed episodes of the TV show Pam & Tommy.
The journey to bring Dumb Money to the screen began as early as February 2021, when MGM Studios acquired the rights to Mezrich's book, which was still a work in progress back then.
After the film's theatrical and premium video on demand (PVOD) windows conclude, it will be available for streaming on Netflix, as part of a deal struck between Sony Pictures and the streaming platform in April 2021.
With its star-studded cast, talented production team, and a timely subject matter, the movie is set to captivate audiences with its perplexing narrative. The release date for Dumb Money is set for September 22, 2023, with Sony Pictures handling distribution.
