{"id":19950,"date":"2023-09-16T23:34:24","date_gmt":"2023-09-16T23:34:24","guid":{"rendered":"https:\/\/microloannexus.com\/investing\/dumb-money-movie-thrusts-gamestop-saga-into-spotlight-but-dont-expect-a-meme-stock-spike\/"},"modified":"2023-09-16T23:34:25","modified_gmt":"2023-09-16T23:34:25","slug":"dumb-money-movie-thrusts-gamestop-saga-into-spotlight-but-dont-expect-a-meme-stock-spike","status":"publish","type":"post","link":"https:\/\/microloannexus.com\/?p=19950","title":{"rendered":"\u2018Dumb Money\u2019 movie thrusts GameStop saga into spotlight, but don\u2019t expect a meme stock spike"},"content":{"rendered":"
\n

The meme stock phenomenon that sent shares of GameStop Corp. skyrocketing to dizzying heights in 2021 is getting the Hollywood treatment in the new movie \u201cDumb Money,\u201d\u00a0which hits select theaters Friday, but don\u2019t expect any repeat of the events of 2021, says Dan Raju, CEO of cloud-based financial services provider Tradier.<\/p>\n

\u201c[The movie is] expected to create quite a bit of conversation, but as far as impacting any security or stock, there has been a graduation in the market, so I don\u2019t expect that,\u201d he told MarketWatch.<\/p>\n

\n

GameStop
\n GME,
\n -0.60%<\/bg-quote>,<\/span>
\n \u00a0like fellow meme stock darling AMC Entertainment Holdings Inc.\u00a0
\n AMC,
\n +2.70%<\/bg-quote>,<\/span>
\n \u00a0was a major beneficiary of the meme-stock buying frenzy in January 2021. Boosted by the WallStreetBets crowd on Reddit, the struggling video game retailer\u2019s shares were sent soaring. Between January and March 2021, GameStop\u2019s stock price\u00a0rose more than\u00a01,200% and the company\u2019s market cap surpassed $17 billion. GameStop\u2019s market cap is now $5.6 billon.<\/p>\n

Related: <\/strong>GameStop\u2019s meme-stock saga will get Hollywood treatment in \u2018Dumb Money\u2019 movie<\/p>\n

The meme stock buying frenzy of February 2021 had its roots in a fundamental reset of the market sparked by the Covid-19 pandemic, according to Raju. This phenomenon was fueled by people suddenly at home, spending less money, as well the influx of government stimulus checks. \u201cThere was an opportunity for them to engage \u2013 it created this echo chamber around WallStreetBets, Twitter, and Discord,\u201d Raju added.<\/p>\n

But the Tradier CEO notes that \u201cthe reality has changed,\u201d citing a \u201cgraduation effect\u201d on the part of retail investors. \u201cPeople have learned to work the market better than before,\u201d he said.<\/p>\n

For Raju, the golden age of the meme stock rally is clearly over. \u201cI had predicted that meme stock rallies will taper off,\u201d Raju added. \u201cIt will never be zero, because of the emergence of the new social trader, but those ideal hype chambers don\u2019t exist anymore.\u201d<\/p>\n

Related:<\/strong> Is the golden age of the meme stock rally over?<\/p>\n

\u201cDumb Money\u201d tells the story of fortunes won and lost overnight \u201cin the David-vs.-Goliath short squeeze that might have ended up changing Wall Street forever,\u201d says filmmaker Black Bear Pictures, on its\u00a0website.<\/p>\n

The Sony Pictures movie stars Nick Offerman as Citadel CEO\u00a0Ken Griffin\u00a0and Seth Rogen as Melvin Capital Founder\u00a0Gabe Plotkin. Mets owner and CEO of Point72 Asset Management\u00a0Steve Cohen\u00a0is played by Vincent D\u2019Onofrio. Meme-stock guru Keith Gill, aka Roaring Kitty, is played by Paul Dano. Shailene Woodley, America Ferrera, and Pete Davidson also star.<\/p>\n

The movie is directed by Craig Gillespie, who also directed \u201cI, Tonya,\u201d and \u201cCruella.\u201d<\/p>\n

Related:<\/strong> GameStop and AMC fundamental financials \u2018remain concerning,\u2019 analyst says<\/p>\n

Tradier\u2019s Raju told MarketWatch that there are a number of misconceptions about the meme stocks phenomenon of early 2021. \u201cThere\u2019s more to it than just institutions versus first-time investors,\u201d he said. For example, many of the people buying were older investors with experience in the markets. \u201cThe volatility that these short squeezes generate also attract the more sophisticated investor \u2026 the fuel on the fire was not the early stage investor, but the late stage investors.\u201d<\/p>\n

He also notes that a lot of options were traded during the major meme stock rallies. \u201cOptions are typically more advanced instruments of trading,\u201d Raju added.<\/p>\n

\u201cDumb Money\u201d is set for general release on Sept. 29.<\/p>\n<\/p><\/div>\n<\/div>\n

Read the full article here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

The meme stock phenomenon that sent shares of GameStop Corp. skyrocketing to dizzying heights in 2021 is getting the Hollywood treatment in the new movie \u201cDumb Money,\u201d\u00a0which hits select theaters Friday, but don\u2019t expect any repeat of the events of 2021, says Dan Raju, CEO of cloud-based financial services provider Tradier. \u201c[The movie is] expected<\/p>\n","protected":false},"author":1,"featured_media":19951,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[49],"tags":[],"class_list":{"0":"post-19950","1":"post","2":"type-post","3":"status-publish","4":"format-standard","5":"has-post-thumbnail","7":"category-investing"},"yoast_head":"\n\u2018Dumb Money\u2019 movie thrusts GameStop saga into spotlight, but don\u2019t expect a meme stock spike | Micro Loan Nexus<\/title>\n<meta name=\"description\" content=\"The meme stock phenomenon that sent shares of GameStop Corp. skyrocketing to 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