Dumb Money’s True Story & Wall Street’s GameStop Crisis Explained

The upcoming feature film Dumb Money is based on the true story of the Reddit group of retail investors that challenged significant hedge fund managers by forcing a short squeeze with one particular stock, Gamestop. During the pandemic lockdowns, a popular group of self-described degenerates formed an allegiance against Melvin Capital, which was formerly a very powerful and influential asset management company that took an enormous short position on Gamestop in 2020. These Redditors, who consisted of more than 10 million subscribers on r/WallStreetBets, created a power squeeze that resulted in irreparable financial losses for Melvin.