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Eat the Rich: The GameStop Saga: With Daniel Wilson, Diana Wilson, Peter Sasaki, Bob Sloan. A look at the layers of intrigue, from the supercharged power of digital communities to the gamification of trading.
- (4.3K)
- 2022-09-28
- Documentary
- 36
- Breaking down the meme stocks.
- How much do you know about the GameStop stock saga?
- Verdict
By Zaki Hasan
Updated: Oct 8, 2022 2:10 pm
Posted: Oct 5, 2022 6:00 pm
Eat the Rich: The GameStop Saga is now streaming on Netflix.
Eat the Rich: The GameStop Saga does an admirable job boiling down the events from early 2021, wherein a group of stuck-at-home day traders used the Robinhood app to buy up shares of the bottoming-out GameStop. This short-squeeze, as it’s called, drove up the price of the stocks while also putting in jeopardy several of the hedge funds that had bet on the company’s impending failure. At the time, it was a story that inspired a kind of car wreck fascination while various TV talking heads quickly labeled it a “David vs. Goliath” story.
Of course, once the fleeting fancy had passed and the media spotlight moved on, the stock eventually settled back to its level at or near the basement, a lot of retail investors lost a lot of money, and the hedge funds went right back on doing what they do –– shorting stocks and betting on other people’s economic misery. Cynical? Perhaps, but it’s a reality the new Netflix documentary series zeroes in on while trying to make a fairly complicated topic something the wider audience can get its arms around.
Know about it? I was buying shares!
I was fascinated while it was happening
I know the broad strokes of what went down
I know about it, but don't quite understand it
What?
In the age of social media, such wisdom from on high was no longer necessary, and with the arrival of Reddit forum wallstreetbets, we suddenly saw the rise of “meme stocks” which Redditors gleefully weaponized as a way to stick it to the fat cats. That’s obviously a reductive way to discuss what was and is a complicated, multi-pronged situation, with few clear cut “bad guys” and “good guys,” but social media has a way of boiling off the nuance from most discussions. And so you had TV personalities like Mad Money’s Jim Cramer –– who initially cheered on the Redditors driving up GameStop’s prices and encouraged them to cash out while they could –– being lampooned and belittled online, leading him to wonder aloud in the doc what he did wrong.
Theo Love’s Eat the Rich: The GameStop Saga is a breezy, easily digested summary of events recent enough to feel timely, but also just far enough in the past to require a recap of some of the messier details. It offers enough background to make the complicated subject matter something regular audiences will be able to follow, while still weaving in...
- Zaki Hasan
TRAILER. Watchlist. TRAILER. In Theaters At Home TV Shows. Advertise With Us. Millennial misfits band together online to rescue their beloved GameStop from the clutches of Wall Street bigwigs,...
- (8)
- September 28, 2022
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Parents need to know that Eat the Rich: The Gamestop Saga is a docu-series about the meteoric rise and fall of Gamestop's stock in 2021 that also touches on the 2008 housing crisis and Occupy Wall Street. There are upsetting stories of people being laid off and losing their homes, footage of protests, and….
This humorous documentary series follows a group of millennial misfits who banded together online to rescue their beloved GameStop from the clutches of Wall ...
- 2 min
- 256.6K
- Netflix
A community of amateur traders enacts a daring plan to get rich quick and wreak havoc on the stock market. But can they beat Wall Street at its own game? Watch trailers & learn more.
Watch Eat the Rich: The GameStop Saga with a subscription on Netflix. Millennial misfits band together online to rescue their beloved GameStop from the clutches of Wall Street bigwigs,...
