1
00:01:12,323 --> 00:01:14,741
So, I'm here.
2
00:01:14,742 --> 00:01:18,911
- And, I do not see anything happening.
- Right.
3
00:01:18,912 --> 00:01:20,747
- Right.
- At all.
4
00:01:20,748 --> 00:01:21,831
Look, I'm very sorry, sir.
5
00:01:21,832 --> 00:01:25,043
Guess what I'm trying to understand is,
what is the reason for this delay exactly?
6
00:01:25,044 --> 00:01:27,253
- Yeah. Mr. Plotkin, I'm so sorry.
- Specifically.
7
00:01:27,254 --> 00:01:30,757
- But it's just that when we set out...
- Yeah, we closed in November.
8
00:01:30,758 --> 00:01:33,092
We had all the permit applications in
before the end of the year.
9
00:01:33,093 --> 00:01:34,844
Right. Once we get
the final stamp of approval.
10
00:01:34,845 --> 00:01:36,387
And we can't get the trucks here
a little early?
11
00:01:36,388 --> 00:01:38,264
- Just, you know, get 'em started.
- Miami Beach ordinances...
12
00:01:38,265 --> 00:01:39,682
- won't let me do that.
- Is anyone actually...
13
00:01:39,683 --> 00:01:41,768
- enforcing those regulations?
- Look, Mr. Plotkin,
14
00:01:41,769 --> 00:01:43,394
I know that you're eager to move in. Okay.
15
00:01:43,395 --> 00:01:45,104
- Once we get the final stamp of approval.
- No.
16
00:01:45,105 --> 00:01:46,564
- You're gonna be the first...
- One second.
17
00:01:46,565 --> 00:01:47,691
Sure.
18
00:01:48,192 --> 00:01:49,275
Hello?
19
00:01:50,861 --> 00:01:54,113
You see what's going on at GME?
20
00:01:54,114 --> 00:01:55,740
There's more of these idiots?
21
00:01:55,741 --> 00:01:58,701
The short sellers, now they're getting
creamed by the little guy...
22
00:01:58,702 --> 00:01:59,869
A lot more.
23
00:01:59,870 --> 00:02:01,412
They won't hold much longer.
24
00:02:01,413 --> 00:02:02,539
Go away.
25
00:02:03,415 --> 00:02:05,667
Oh Gabe, honey, they're holding.
26
00:02:06,668 --> 00:02:08,836
It just crossed a hundred.
27
00:02:08,837 --> 00:02:11,172
Gabe, where are you?
28
00:02:11,173 --> 00:02:12,340
Fuck!
29
00:02:12,341 --> 00:02:14,133
You should probably dial in.
30
00:02:14,134 --> 00:02:15,426
Yeah, be on in one sec.
31
00:02:17,096 --> 00:02:19,680
♪ There's some whores in this house ♪
32
00:02:19,681 --> 00:02:22,100
- ♪ I said, certified freak ♪
- ♪ Hold up! ♪
33
00:02:22,101 --> 00:02:24,018
♪ Seven days a week ♪
34
00:02:24,019 --> 00:02:27,355
♪ Wet-ass pussy
Make that pull-out game weak ♪
35
00:02:27,356 --> 00:02:30,108
- ♪ Whoo! Yeah, yeah ♪
- ♪ There's some whores in this house ♪
36
00:02:30,109 --> 00:02:32,485
♪ Yeah, you fucking
With some wet-ass pussy... ♪
37
00:02:32,486 --> 00:02:35,571
I will tell you I've never seen
anything like it. I'm concerned about it.
38
00:02:35,572 --> 00:02:37,532
I'm calling it the ultimate short squeeze.
39
00:02:37,533 --> 00:02:39,826
You can lose money to infinity.
40
00:02:39,827 --> 00:02:43,371
It's very different, more highly leveraged
game on the other side.
41
00:02:43,372 --> 00:02:44,664
♪ Put this pussy... ♪
42
00:02:44,665 --> 00:02:45,957
Holy fucking shit.
43
00:02:45,958 --> 00:02:47,041
♪ Like a credit card... ♪
44
00:02:47,042 --> 00:02:49,877
Right now we're gonna talk about GameStop.
Those shares...
45
00:02:49,878 --> 00:02:53,089
- are nonstop earning of about 130% today.
- Holy fucking shit!
46
00:02:53,090 --> 00:02:54,799
- Holy shit!
- What the...
47
00:02:54,800 --> 00:02:56,050
fuck!
48
00:02:56,051 --> 00:02:57,802
♪ Let's role play, I'll wear a disguise ♪
49
00:02:57,803 --> 00:03:00,555
♪ I want you to park that big Mack truck
Right in this little garage ♪
50
00:03:00,556 --> 00:03:01,722
Holy shit.
51
00:03:01,723 --> 00:03:03,474
- Yes. Hello?
- Great news, Mr. Plotkin.
52
00:03:03,475 --> 00:03:05,518
I think we'll be able to get you
into your new home
53
00:03:05,519 --> 00:03:06,894
a little sooner than I actually thought.
54
00:03:06,895 --> 00:03:09,105
I think we're having
some sort of miscommunication here.
55
00:03:09,106 --> 00:03:10,731
Because I'm not trying
to move into that house.
56
00:03:10,732 --> 00:03:13,443
I'm trying to tear that house down
so I can build a tennis court
57
00:03:13,444 --> 00:03:15,445
for me and my family to play
during the pandemic.
58
00:03:15,446 --> 00:03:16,946
- I see.
- I thought it would be very simple.
59
00:03:16,947 --> 00:03:18,906
Apparently, it isn't because
the pandemic is almost over
60
00:03:18,907 --> 00:03:20,533
- and there's no tennis court.
- Okay, Mr. Plotkin.
61
00:03:20,534 --> 00:03:21,951
Thank you for your time.
62
00:03:21,952 --> 00:03:23,703
Yes, what? Hello?
63
00:03:23,704 --> 00:03:26,540
Hi, it's Ken Griffin.
64
00:03:32,087 --> 00:03:34,089
Hi there, Ken, how are you?
Great to hear from you.
65
00:03:35,591 --> 00:03:36,674
Do you have a minute?
66
00:03:38,635 --> 00:03:39,803
I, uh...
67
00:03:40,471 --> 00:03:41,305
Um...
68
00:03:41,306 --> 00:03:43,891
I gotta call you right back.
If that's okay. I'm so sorry.
69
00:03:45,100 --> 00:03:46,435
- Sure.
- Okay, great.
70
00:03:47,978 --> 00:03:49,562
Hi. What's happening right now?
71
00:03:49,563 --> 00:03:52,064
It looks like there's one guy
driving all the buying.
72
00:03:52,065 --> 00:03:53,399
What... what... what guy?
73
00:03:54,485 --> 00:03:56,861
I believe his name is "Roaring Kitty."
74
00:03:56,862 --> 00:03:58,404
♪ There's some whores in this house ♪
75
00:03:58,405 --> 00:04:00,823
♪ Yeah, you fucking
With some wet-ass pussy... ♪
76
00:04:00,824 --> 00:04:02,158
Oh, wait, or...
77
00:04:02,159 --> 00:04:03,951
♪ This wet-ass pussy... ♪
78
00:04:03,952 --> 00:04:05,870
"Deep Fucking Value."
79
00:04:05,871 --> 00:04:08,499
"Roaring Kitty"
or "Deep Fucking Value." What?
80
00:04:09,458 --> 00:04:12,585
He's "Roaring Kitty" on YouTube
and "Deep Fucking Value" on Reddit.
81
00:04:12,586 --> 00:04:15,129
Both? He couldn't pick one name?
82
00:04:15,130 --> 00:04:16,881
I don't know. I love this guy.
83
00:04:16,882 --> 00:04:18,633
♪ That's some wet-ass pussy ♪
84
00:04:18,634 --> 00:04:20,468
♪ Macaroni in a pot ♪
85
00:04:20,469 --> 00:04:22,094
♪ That's some wet-ass pussy
86
00:04:22,095 --> 00:04:24,055
- ♪ Ha ♪
- ♪ There's some whores in this house... ♪
87
00:04:24,056 --> 00:04:25,431
Who is this schmuck?
88
00:04:25,432 --> 00:04:27,308
I don't know, but I think I just came.
89
00:05:33,000 --> 00:05:35,293
- Uh, Ruby... Ruby, right?
- Yeah.
90
00:05:35,294 --> 00:05:38,171
- Can I get a couple of Heinies, please?
- Uh, one. Sorry, uh...
91
00:05:38,755 --> 00:05:41,007
- I'm gonna have a...
- What? What's wrong with a Heinie?
92
00:05:41,008 --> 00:05:42,508
Drinking it since we were 17!
93
00:05:42,509 --> 00:05:44,594
Hey, drink what you like. No judgment.
94
00:05:44,595 --> 00:05:46,262
Uh, you have a Hamm's?
95
00:05:46,263 --> 00:05:48,848
- I'll have one of those.
- The fuck did you just order?
96
00:05:48,849 --> 00:05:51,726
Oh, it's a nice one outta Milwaukee.
Good quality.
97
00:05:51,727 --> 00:05:54,604
- Fifty cents a can before markup.
- C'mon, Kitty. Forget about price.
98
00:05:54,605 --> 00:05:55,896
Get him a Heineken, thank you.
99
00:05:55,897 --> 00:05:57,356
- It's on me.
- Thanks, man.
100
00:05:57,357 --> 00:06:00,067
Thank you, that's nice.
I'll have a Hamm's.
101
00:06:00,068 --> 00:06:01,694
So a Heineken and a Hamm's?
102
00:06:01,695 --> 00:06:02,820
Thank you.
103
00:06:02,821 --> 00:06:04,030
Please.
104
00:06:04,031 --> 00:06:05,364
Thank you, Ruby.
105
00:06:10,996 --> 00:06:11,996
How you been, man?
106
00:06:11,997 --> 00:06:14,123
The whole Sara thing.
107
00:06:14,124 --> 00:06:17,335
Oh, yeah. Okay, uh...
108
00:06:17,336 --> 00:06:18,795
Up and down.
109
00:06:19,379 --> 00:06:20,505
Yeah.
110
00:06:22,215 --> 00:06:23,799
- How's your asshole brother?
- Still an asshole.
111
00:06:23,800 --> 00:06:25,594
- Okay.
- Yeah.
112
00:06:26,178 --> 00:06:27,803
- Keeping busy at least?
- Uh...
113
00:06:27,804 --> 00:06:30,931
Got the day job at MassMutual.
Working on my portfolio.
114
00:06:30,932 --> 00:06:33,352
That's the last thing you should be
worrying about right now.
115
00:06:33,852 --> 00:06:35,811
Why? It's a... It's a good distraction.
116
00:06:35,812 --> 00:06:37,146
Lemme take that over for you.
117
00:06:37,147 --> 00:06:38,731
We got thousands of analysts at B of A
118
00:06:38,732 --> 00:06:41,192
- that do just this. C'mon, Kitty.
- All good, man. Thank you.
119
00:06:41,193 --> 00:06:42,735
You should be focused on your family
right now.
120
00:06:42,736 --> 00:06:44,236
Not fucking around with penny stocks.
121
00:06:44,237 --> 00:06:46,947
They're not all penny stocks.
GameStop isn't a penny stock.
122
00:06:46,948 --> 00:06:48,449
GameStop?
123
00:06:48,450 --> 00:06:49,909
- Dude...
- You used to love GameStop!
124
00:06:49,910 --> 00:06:53,080
- Yeah, then I grew up.
- Well, I think it's undervalued.
125
00:06:53,664 --> 00:06:55,665
I just sold off a bunch of other shit
to double down.
126
00:06:55,666 --> 00:06:57,625
How much are we talking? A grand?
127
00:06:57,626 --> 00:06:58,751
- Fifty.
- Bucks?
128
00:06:58,752 --> 00:06:59,877
Grand.
129
00:06:59,878 --> 00:07:01,003
53 grand.
130
00:07:01,004 --> 00:07:02,964
Yeah.
131
00:07:07,594 --> 00:07:08,594
Kitty...
132
00:07:10,389 --> 00:07:12,598
- Man, you don't even own a house.
- It's got a ton of short interest,
133
00:07:12,599 --> 00:07:14,433
- You got a one-year-old.
- Which is artificially pushing...
134
00:07:14,434 --> 00:07:15,851
- Jesus, bro.
- The price down.
135
00:07:15,852 --> 00:07:18,312
- You never bet against Wall Street!
- Wall Street gets it wrong all the time.
136
00:07:18,313 --> 00:07:19,855
- Look at '08.
- That was a one-off, Kitty.
137
00:07:19,856 --> 00:07:21,315
These guys, they have all the money
138
00:07:21,316 --> 00:07:23,442
and the fancy degrees
and the political juice in the world,
139
00:07:23,443 --> 00:07:25,653
- and they get it wrong all the time.
- Are you out of your fucking mind?
140
00:07:25,654 --> 00:07:28,448
They've got the advantage,
and they still get it wrong.
141
00:07:30,075 --> 00:07:32,618
No, gimme that, I'm drinking it.
Even if it's 50 cents.
142
00:07:32,619 --> 00:07:33,703
It's 4 bucks.
143
00:07:33,704 --> 00:07:35,788
Well, my man just spent 53K
on a penny stock.
144
00:07:35,789 --> 00:07:37,665
So, all he can afford is water.
145
00:07:37,666 --> 00:07:40,167
- You're a Wall Street guy?
- Very much no.
146
00:07:40,168 --> 00:07:41,711
I'm a Wall Street guy.
147
00:07:41,712 --> 00:07:43,213
What was the stock?
148
00:07:44,464 --> 00:07:45,549
GameStop.
149
00:07:46,925 --> 00:07:48,259
The video game store. At the mall.
150
00:07:48,260 --> 00:07:51,846
- You really bought $53,000 of it?
- Yeah, I don't believe it.
151
00:07:51,847 --> 00:07:54,014
I think he's fucking with us.
You're fucking with us, right?
152
00:07:54,015 --> 00:07:55,725
You don't even have 50 grand.
153
00:07:55,726 --> 00:07:56,893
Let's see.
154
00:07:59,312 --> 00:08:00,439
Oh, shit.
155
00:08:02,524 --> 00:08:04,442
How is she falling for this?
How are you falling for this?
156
00:08:04,443 --> 00:08:06,819
He won't spend 5 bucks for a beer,
157
00:08:06,820 --> 00:08:10,239
but he'll put 50k in a stock
that you think is a joke.
158
00:08:10,240 --> 00:08:11,825
And that's interesting to you?
159
00:08:12,701 --> 00:08:13,785
Yeah.
160
00:08:14,995 --> 00:08:16,121
It is.
161
00:08:22,085 --> 00:08:23,669
Drink your shitty beer.
162
00:08:33,054 --> 00:08:34,096
Hey!
163
00:08:34,097 --> 00:08:35,223
Hey!
164
00:08:37,642 --> 00:08:39,185
Bedtime's already done?
165
00:08:39,186 --> 00:08:42,564
Yeah, she was exhausted.
She skipped her nap.
166
00:08:44,357 --> 00:08:45,900
- How was Briggsy?
- Uh...
167
00:08:45,901 --> 00:08:47,360
Good. Yeah.
168
00:08:55,660 --> 00:08:57,412
You guys talk about Sara?
169
00:08:59,331 --> 00:09:00,331
Uh...
170
00:09:03,835 --> 00:09:05,503
Do you wanna sit down a minute?
171
00:09:05,504 --> 00:09:07,671
I'll feel better if I finish these first.
172
00:09:08,633 --> 00:09:10,884
No, you won't.
173
00:09:36,284 --> 00:09:37,284
Do you think I'm insane?
174
00:09:37,285 --> 00:09:38,620
Yeah.
175
00:09:39,913 --> 00:09:41,540
Sorry. About what?
176
00:09:42,707 --> 00:09:43,833
GameStop.
177
00:09:43,834 --> 00:09:46,586
The most compelling
asymmetric opportunity in the market?
178
00:09:48,713 --> 00:09:51,006
- What, did Briggsy make you jumpy?
- A little.
179
00:09:51,007 --> 00:09:53,133
- What was his argument?
- He didn't have one.
180
00:09:53,134 --> 00:09:55,719
- Well.
- He just said it was a reckless bet.
181
00:09:55,720 --> 00:09:58,097
He said "you're putting your money
in the next Blockbuster."
182
00:09:58,098 --> 00:09:59,015
Enough. Fuck Briggsy.
183
00:09:59,016 --> 00:10:02,394
Babe, you literally know more about
this damn company than you know about me.
184
00:10:02,853 --> 00:10:03,770
It's true.
185
00:10:03,771 --> 00:10:06,772
And because of you, I know more about
this company than I know about myself.
186
00:10:06,773 --> 00:10:10,569
But what if I'm missing something?
We can't afford to miss something.
187
00:10:11,903 --> 00:10:13,655
It's all our savings.
188
00:10:14,364 --> 00:10:15,532
Go do a video.
189
00:10:16,825 --> 00:10:18,659
I can finish these first. I'm happy to...
190
00:10:18,660 --> 00:10:20,786
Go see what the nerds have to say.
191
00:10:20,787 --> 00:10:23,455
Our Wall Street Bets people
aren't nerds, Caroline.
192
00:10:23,456 --> 00:10:25,958
They're gangsters.
You make a dumb case and post it,
193
00:10:25,959 --> 00:10:28,378
- they'll rip you apart.
- Well, then don't make a dumb case.
194
00:10:47,522 --> 00:10:49,024
Okay, let's see what's new.
195
00:10:51,985 --> 00:10:54,029
Oh, there's a share. Okay, here we go.
196
00:10:56,948 --> 00:10:58,241
Oh shit.
197
00:11:21,598 --> 00:11:23,058
All right...
198
00:11:23,850 --> 00:11:26,436
Just check on... See here.
199
00:11:36,738 --> 00:11:39,490
Yo, what up, everybody?
Roaring Kitty here.
200
00:11:39,491 --> 00:11:42,618
Uh, I've done a few of these now,
mostly on my investing methodology.
201
00:11:42,619 --> 00:11:45,454
Uh, but today I'm gonna try something
a little different.
202
00:11:45,455 --> 00:11:48,874
I appreciate the feedback
you guys have been leaving me by the way.
203
00:11:48,875 --> 00:11:52,544
Uh... Oh! More feedback comin' in hot.
204
00:11:52,545 --> 00:11:56,340
"Less cats." Okay. Great.
205
00:11:56,341 --> 00:11:59,969
Ah, like I was saying...
Uh, what was I saying?
206
00:11:59,970 --> 00:12:00,929
Ah, I'm gonna try...
207
00:12:00,930 --> 00:12:03,138
Oh, and here's one from Ballz.
208
00:12:03,139 --> 00:12:04,640
"Nerd."
209
00:12:04,641 --> 00:12:06,642
And nerd is in all capitals.
210
00:12:06,643 --> 00:12:10,688
Like, okay, that's kinda mean.
But okay, fair.
211
00:12:10,689 --> 00:12:11,772
Uh...
212
00:12:11,773 --> 00:12:13,774
"Nice shirt, Grandpa"?
213
00:12:13,775 --> 00:12:17,069
What? How old do you think I am?
214
00:12:17,070 --> 00:12:18,029
You know what?
215
00:12:18,030 --> 00:12:21,156
Thanks for the comments.
We're gonna come back to them at the end.
216
00:12:21,157 --> 00:12:22,450
Here's what I wanna talk about.
217
00:12:23,326 --> 00:12:26,578
Uh, I'm gonna pick a stock and
talk about why I think it's interesting.
218
00:12:26,579 --> 00:12:28,540
And that stock is...
219
00:12:29,958 --> 00:12:31,960
GameStop. Uh...
220
00:12:32,752 --> 00:12:34,128
I know it's a polarizing stock
221
00:12:34,129 --> 00:12:36,630
and some of you probably gonna
tune out of the stream right now
222
00:12:36,631 --> 00:12:39,133
when you hear I'm bullish on GameStop.
But I am.
223
00:12:39,134 --> 00:12:43,220
You can see it is now the biggest position
by far in the Roaring Kitty portfolio.
224
00:12:43,221 --> 00:12:44,139
So...
225
00:12:44,140 --> 00:12:47,182
yeah, I think everyone else is crazy,
and I think I'm right.
226
00:12:47,183 --> 00:12:51,729
But I've been wrong plenty of times
in the past. So, uh...
227
00:12:51,730 --> 00:12:55,274
So there are a lot of aspects to this
bold thesis, a lot of moving parts,
228
00:12:55,275 --> 00:12:57,776
but I boil it down
to what I consider the three overs:
229
00:12:57,777 --> 00:13:00,112
The digital risks seem to me
to be overblown,
230
00:13:00,113 --> 00:13:01,572
the negative sentiment is overdone,
231
00:13:01,573 --> 00:13:03,323
you can see it
with the huge short interest,
232
00:13:03,324 --> 00:13:05,242
and the value is overlooked.
233
00:13:05,243 --> 00:13:07,412
Wall Street just doesn't see it.
234
00:13:08,038 --> 00:13:09,204
Why?
235
00:13:09,205 --> 00:13:12,459
Mr. Market, why?
236
00:13:13,209 --> 00:13:15,961
The hedge funds are overlooking
the value in the company
237
00:13:15,962 --> 00:13:18,672
just like they overlook
the people who shop there.
238
00:13:18,673 --> 00:13:21,383
They assume most people download
games online now.
239
00:13:21,384 --> 00:13:25,721
But look, 25% of gamers
still buy new discs from GameStop,
240
00:13:25,722 --> 00:13:28,766
and 40% buy used games from the store.
241
00:13:28,767 --> 00:13:30,726
And the market's kinda forced
my hand here.
242
00:13:30,727 --> 00:13:33,687
What more can I say?
I just like the stock.
243
00:13:33,688 --> 00:13:34,773
Hey!
244
00:13:35,482 --> 00:13:36,900
Shit!
245
00:13:37,942 --> 00:13:39,610
- Did I wake you?
- Please stop.
246
00:13:39,611 --> 00:13:42,488
Mr. Donaldson, I need you in your bed.
247
00:13:42,489 --> 00:13:44,490
Kerin, can you please
make sure Mr. Donaldson...
248
00:13:44,491 --> 00:13:46,950
I don't need to go to bed.
I need a cup of coffee.
249
00:13:46,951 --> 00:13:49,828
We can get you a cup of coffee.
Kerin, coffee.
250
00:13:49,829 --> 00:13:50,997
Oh!
251
00:13:51,623 --> 00:13:52,791
Well, isn't that beautiful?
252
00:13:53,374 --> 00:13:54,500
Oh shit.
253
00:13:55,835 --> 00:14:00,714
"100% short GameStop stock"?
254
00:14:00,715 --> 00:14:02,091
It's an investment video.
255
00:14:02,092 --> 00:14:04,676
Hey, Jenny, for real,
256
00:14:04,677 --> 00:14:07,513
I wouldn't take investment advice
from a guy in a cat shirt.
257
00:14:07,514 --> 00:14:10,140
Oh, okay.
Who do you take investment advice from?
258
00:14:10,141 --> 00:14:16,814
I don't have investments. And if I did,
I'd listen to, like, a banker.
259
00:14:16,815 --> 00:14:18,315
Just the way they like it.
260
00:14:18,316 --> 00:14:22,277
"They." Oh boy. Here we go...
261
00:14:22,278 --> 00:14:23,445
Just never mind.
262
00:14:23,446 --> 00:14:24,905
No, no, no, please tell me.
263
00:14:24,906 --> 00:14:28,117
I'm dying to know what Luke Wilson
from The Royal Tenenbaums
264
00:14:28,118 --> 00:14:30,744
thinks we should do
with our $68,000 a year.
265
00:14:30,745 --> 00:14:31,870
Who from what?
266
00:14:31,871 --> 00:14:32,955
Ugly Björn Borg.
267
00:14:32,956 --> 00:14:34,123
Okay, fine.
268
00:14:34,124 --> 00:14:37,042
Wall Street is betting
that this company is gonna fail.
269
00:14:37,043 --> 00:14:38,627
It's called shorting.
270
00:14:38,628 --> 00:14:42,214
And if it fails, well,
then everybody loses their job,
271
00:14:42,215 --> 00:14:44,884
but these hedge fund assholes
make a shit ton of money.
272
00:14:45,468 --> 00:14:49,221
It's bullshit. It's a bullshit way
for rich people to get richer.
273
00:14:49,222 --> 00:14:50,889
How did you even find this guy?
274
00:14:50,890 --> 00:14:53,517
70,000 people have watched this video.
275
00:14:53,518 --> 00:14:55,936
He posts his balance sheets
and everything.
276
00:14:55,937 --> 00:14:57,771
Wall Street Bets is going crazy over this.
277
00:14:57,772 --> 00:14:59,898
- Who?
- It's an Internet forum.
278
00:14:59,899 --> 00:15:00,984
Uh-huh.
279
00:15:01,776 --> 00:15:03,026
- On Reddit.
- Now, see. No, no.
280
00:15:03,027 --> 00:15:05,404
I'm not gonna do this with you.
The last time you brought up Reddit,
281
00:15:05,405 --> 00:15:08,157
it was just all these oil paintings
of Donald Trump on horseback.
282
00:15:08,158 --> 00:15:09,950
- You liked it.
- Detestable.
283
00:15:09,951 --> 00:15:12,619
- Look.
- Okay, yeah. Let's take a look.
284
00:15:12,620 --> 00:15:14,204
Um...
285
00:15:14,205 --> 00:15:16,665
"Shit's not a pump-and-dump
286
00:15:16,666 --> 00:15:20,043
if it never dumps, you fuckheads..."
287
00:15:20,044 --> 00:15:24,173
"Feed me your tears,
I use it as anal lube on your wives."
288
00:15:24,174 --> 00:15:25,299
Why did you go to that one?
289
00:15:25,300 --> 00:15:28,844
Oh! Oh! Oh! "Strap on ur theta dildo"
290
00:15:28,845 --> 00:15:32,973
- "n start pounding."
- Okay. Yes, that shit exists on here.
291
00:15:32,974 --> 00:15:36,768
But I also learned the difference between
a delta squeeze and a gamma squeeze.
292
00:15:36,769 --> 00:15:38,770
And now everyone
is talking about call options.
293
00:15:38,771 --> 00:15:42,316
Jenny, baby,
you're never gonna find a man on there.
294
00:15:43,735 --> 00:15:45,986
And you're never gonna date Puff Daddy.
295
00:15:45,987 --> 00:15:48,405
First of all, no one has said Puff Daddy
since the '90s
296
00:15:48,406 --> 00:15:50,783
and second of all, this isn't Puff Daddy.
297
00:15:51,576 --> 00:15:52,744
This is Loop Daddy.
298
00:15:53,661 --> 00:15:57,539
Okay, well, whatever Daddy he's called,
he's weird looking.
299
00:15:57,540 --> 00:16:00,292
Hey, well, my guy has, what,
5 million TikTok followers.
300
00:16:00,293 --> 00:16:02,044
- How many does yours have?
- I don't know.
301
00:16:02,045 --> 00:16:04,796
Quick scroll. 412.
302
00:16:04,797 --> 00:16:07,132
- Who cares?
- The Internet at large.
303
00:16:07,133 --> 00:16:09,177
But hey. Least I aim high.
304
00:16:10,220 --> 00:16:12,096
I aim high.
305
00:16:20,939 --> 00:16:24,191
♪ 21 bands for the age of 21 ♪
306
00:16:24,192 --> 00:16:27,569
♪ I'mma flip the funds up
Then I cop the Chevy truck ♪
307
00:16:27,570 --> 00:16:30,948
♪ Buy her what she want
And you know she show me love ♪
308
00:16:30,949 --> 00:16:33,909
♪ Then I roll it up
Then I roll it up ♪
309
00:16:33,910 --> 00:16:37,120
♪ Motherfuckers wanna hate me
And shame me ♪
310
00:16:37,121 --> 00:16:40,332
♪ Motherfuckers wanna drain me
Cobain me ♪
311
00:16:40,333 --> 00:16:43,669
♪ All these bitches trying to chain me
And blame me ♪
312
00:16:43,670 --> 00:16:47,381
♪ Motherfuckers wanna change me
And hate me ♪
313
00:16:47,382 --> 00:16:49,967
What up, everybody? Roaring Kitty here.
314
00:16:49,968 --> 00:16:54,930
Yo! Yo! Yo! This price action,
gettin' kind of ridiculous, am I right?
315
00:16:54,931 --> 00:16:57,474
Let's see what happens.
See what happens at the end of the week.
316
00:16:57,475 --> 00:16:59,726
But it's all about
the trend staying intact.
317
00:16:59,727 --> 00:17:01,521
But this, this looks sick.
318
00:17:05,024 --> 00:17:06,150
Morning, Marcos!
319
00:17:06,651 --> 00:17:09,612
Shit... Yo, what's... Hey, Brad.
320
00:17:16,828 --> 00:17:20,665
Yo, um, I was wondering
if could I get an advance on my pay?
321
00:17:21,291 --> 00:17:22,791
I can run it up the chain,
322
00:17:22,792 --> 00:17:25,253
but with all the cutbacks,
that's unlikely.
323
00:17:26,337 --> 00:17:28,463
Oh, hey! You could do
the employee TikTok contest.
324
00:17:28,464 --> 00:17:30,924
You do a lip sync,
you can win 10 labor hours.
325
00:17:30,925 --> 00:17:32,635
Yeah, man, totally.
326
00:17:33,344 --> 00:17:36,306
That's dope. I was thinkin' "Savage."
327
00:17:37,682 --> 00:17:39,641
Yeah. Yeah, sure, I love it.
328
00:17:39,642 --> 00:17:42,103
Or yo, that Drake one with Lil Durk.
329
00:17:43,730 --> 00:17:44,938
That's a great one too.
330
00:17:44,939 --> 00:17:46,733
Because I know you love Lil Durk.
331
00:17:47,275 --> 00:17:48,192
C'mon.
332
00:17:48,193 --> 00:17:50,819
No, I'm gonna do Megan Thee Stallion.
For sure, for sure, for sure.
333
00:17:50,820 --> 00:17:51,863
♪ I'm a savage ♪
334
00:17:52,572 --> 00:17:54,865
♪ Classy, bougie, ratchet ♪
335
00:17:54,866 --> 00:17:57,576
♪ Sassy, moody, nasty ♪
336
00:17:57,577 --> 00:17:59,704
Okay, mask! Mask.
337
00:18:00,830 --> 00:18:02,122
Sorry.
338
00:18:02,123 --> 00:18:04,709
♪ Acting stupid, what was happening? ♪
339
00:18:05,293 --> 00:18:07,210
♪ What's happening? I'm a savage ♪
340
00:18:07,211 --> 00:18:10,422
Huh, A+ man. You're a shoo-in
with moves like that.
341
00:18:10,423 --> 00:18:12,342
Yo, you think so for real, though?
342
00:18:13,384 --> 00:18:14,385
That's sweet, real.
343
00:18:15,887 --> 00:18:17,055
Ten labor hours.
344
00:18:17,930 --> 00:18:19,410
Damn, it's like Christmas came early!
345
00:18:21,059 --> 00:18:22,559
I'm pullin' for ya!
346
00:18:22,560 --> 00:18:23,935
Thanks, man.
347
00:18:26,230 --> 00:18:27,356
♪ I'm that bitch ♪
348
00:18:27,357 --> 00:18:29,733
♪ I'm that bitch
Hey ♪
349
00:18:29,734 --> 00:18:32,903
♪ I'm the hood Mona Lisa
Break a nigga into pieces ♪
350
00:18:32,904 --> 00:18:35,864
♪ Had to X some cheesy niggas
Out my circle like a pizza ♪
351
00:18:35,865 --> 00:18:39,534
♪ I'm way too exclusive
I don't shop on Insta' boutiques... ♪
352
00:18:39,535 --> 00:18:41,870
♪ ...only fit fake booties ♪
353
00:18:41,871 --> 00:18:42,996
♪ Fuck cash shit ♪
354
00:18:42,997 --> 00:18:43,915
♪ Talking cash shit ♪
355
00:18:43,916 --> 00:18:46,083
♪ Pussy like water
I'm unbothered and relaxing ♪
356
00:18:46,084 --> 00:18:47,001
Mmm! Fries.
357
00:18:47,002 --> 00:18:49,669
♪ I would never trip on a nigga
if I had him ♪
358
00:18:49,670 --> 00:18:52,631
♪ Bitch, that's my trash, you the maid
So you bagged him ♪
359
00:18:52,632 --> 00:18:55,967
♪ I'm a savage
Classy, bougie, ratchet ♪
360
00:18:55,968 --> 00:18:57,135
No, fuck!
361
00:18:57,136 --> 00:18:58,929
♪ Sassy, moody, nasty... ♪
362
00:18:58,930 --> 00:18:59,930
God!
363
00:18:59,931 --> 00:19:02,099
Goddamn it! Fuck!
364
00:19:02,100 --> 00:19:05,060
But first, cheers! Cheers, everybody.
365
00:19:05,061 --> 00:19:08,188
I mean, look. I know we still got
a lot of bear takes out there.
366
00:19:08,189 --> 00:19:10,107
But as I dive deeper and deeper
into this thing,
367
00:19:10,108 --> 00:19:11,983
it's looking increasingly
compelling to me.
368
00:19:11,984 --> 00:19:15,195
And then you got the huge short interest.
Now, I'm not betting on a short squeeze.
369
00:19:15,196 --> 00:19:17,531
I've been saying that the whole time.
You guys have been talking about it.
370
00:19:17,532 --> 00:19:19,116
Thesis is grounded in fundamentals,
but I'm not...
371
00:19:19,117 --> 00:19:20,742
But to... I mean, today, I mean, I'm...
372
00:19:20,743 --> 00:19:22,452
I mean, it's starting to feel
a little squeezy, right?
373
00:19:22,453 --> 00:19:23,954
Starting to feel a little squeezy. Honk!
374
00:19:23,955 --> 00:19:25,497
I mean, hello. Okay!
375
00:19:25,498 --> 00:19:27,708
All right, all right. I need a drink.
I need a drink.
376
00:19:30,128 --> 00:19:33,547
Now. A lot of you are accusing me
of talking a big game.
377
00:19:33,548 --> 00:19:34,714
- Keith?
- But...
378
00:19:34,715 --> 00:19:37,760
- Babe, where are you?
- Oh... Coming!
379
00:19:38,594 --> 00:19:41,179
Duh... I'm on Daddy duty tonight.
I'll be right back.
380
00:19:42,682 --> 00:19:44,641
♪ Stack it, pack it
Stack it, pack it, trap it ♪
381
00:19:44,642 --> 00:19:47,644
♪ Send it to a rich nigga
Tell him work his magic ♪
382
00:19:47,645 --> 00:19:50,730
♪ Stack it, pack it
Stack it, pack it, trap it ♪
383
00:19:50,731 --> 00:19:53,733
♪ Send it to a rich nigga
Tell him make somethin' happen ♪
384
00:19:53,734 --> 00:19:55,485
♪ I ain't slowin' down for no clown ♪
385
00:19:56,405 --> 00:19:59,448
♪ Tell him hit the next route
I'm the best out ♪
386
00:19:59,449 --> 00:20:02,159
♪ Work on my confidence
Now my chest out ♪
387
00:20:02,160 --> 00:20:05,829
♪ Pop it and I'm blessed now
They only love you when you down ♪
388
00:20:05,830 --> 00:20:10,125
♪ I'mma stack it, pack it
Stack it, pack it, trap it... ♪
389
00:20:10,126 --> 00:20:12,712
Okay. There you go.
390
00:20:13,963 --> 00:20:16,423
Ooh! Sorry.
391
00:20:16,424 --> 00:20:17,967
Quick tendie break.
392
00:20:18,468 --> 00:20:19,385
Mmm!
393
00:20:19,386 --> 00:20:20,719
Gotta love those ten dies.
394
00:20:20,720 --> 00:20:22,096
Sweet, sweet ten dies.
395
00:20:23,055 --> 00:20:24,474
Speaking of ten dies.
396
00:20:25,683 --> 00:20:28,478
Look at this. Look at this chart.
397
00:20:29,729 --> 00:20:33,441
We go from four, to six, to seven. Now...
398
00:20:33,983 --> 00:20:34,983
ten.
399
00:20:35,526 --> 00:20:38,195
Wall Street must be seeing this, right?
400
00:20:38,196 --> 00:20:40,697
Or are we just screaming into the void?
401
00:20:40,698 --> 00:20:44,159
Hello, Mr. Market. We got ten dies too.
402
00:20:44,160 --> 00:20:46,579
We got ten dies too.
403
00:20:48,372 --> 00:20:49,332
Maybe we are.
404
00:20:49,333 --> 00:20:54,753
They never saw the, like, 9 billion
resumes I sent from 2016 to 2019.
405
00:20:54,754 --> 00:20:57,255
Or in 2009,
right after I graduated college.
406
00:20:57,256 --> 00:21:00,842
I guess they were busy
with that whole "market crash" thing then.
407
00:21:03,888 --> 00:21:05,555
♪ Send it to a rich nigga... ♪
408
00:21:05,556 --> 00:21:07,516
Fuck!
409
00:21:07,517 --> 00:21:08,642
♪ Stack it... ♪
410
00:21:16,567 --> 00:21:17,859
Kevin, you son of a bitch!
411
00:21:17,860 --> 00:21:19,986
You can't run with a baby.
You can't run with a baby!
412
00:21:19,987 --> 00:21:22,906
- Don't take my car, man!
- I fucked up your seat!
413
00:21:22,907 --> 00:21:24,534
There's no gas left.
414
00:21:25,326 --> 00:21:27,452
I know.
415
00:21:28,829 --> 00:21:31,581
- ♪ You in the zone ♪
- ♪ I can be a better man... ♪
416
00:21:38,089 --> 00:21:39,715
How did that taste?
417
00:21:42,009 --> 00:21:44,052
Hey-oh, can I put my pants back on?
418
00:21:44,053 --> 00:21:45,136
No!
419
00:21:45,137 --> 00:21:50,559
"Choose a player and put your hand
down their panties for a whole minute."
420
00:21:50,560 --> 00:21:52,102
Panties, who's got panties?
421
00:21:52,103 --> 00:21:53,603
"Two shots if they refuse."
422
00:21:53,604 --> 00:21:56,022
I mean, I got some panties.
423
00:21:56,023 --> 00:21:57,649
Ew!
424
00:21:57,650 --> 00:22:00,736
Bro.
425
00:22:01,904 --> 00:22:04,156
- Hello.
- All right.
426
00:22:05,199 --> 00:22:06,992
- All right.
- Hey, girl.
427
00:22:06,993 --> 00:22:08,493
You said two shots, right?
428
00:22:08,494 --> 00:22:10,036
Oh, c'mon.
429
00:22:11,747 --> 00:22:13,290
Fuck, all good.
430
00:22:13,291 --> 00:22:15,709
- Can someone start the timer?
- I got you. I got you.
431
00:22:15,710 --> 00:22:18,211
- Should I just...? Okay.
- Get in there.
432
00:22:18,212 --> 00:22:19,589
- You sure?
- Yeah.
433
00:22:20,339 --> 00:22:22,383
Whoa.
434
00:22:23,092 --> 00:22:24,427
Okay...
435
00:22:25,094 --> 00:22:27,305
Hi.
436
00:22:29,557 --> 00:22:31,975
How are you?
437
00:22:31,976 --> 00:22:33,476
Can you shut the fuck up?
438
00:22:33,477 --> 00:22:36,187
Fuck off!
439
00:22:36,188 --> 00:22:37,772
So what'd you do today?
440
00:22:37,773 --> 00:22:41,443
Well, I attended a Zoom seminar
441
00:22:41,444 --> 00:22:45,281
during which I watched
two hours of TikTok.
442
00:22:47,116 --> 00:22:48,408
Oh!
443
00:22:48,409 --> 00:22:51,495
I, um, purchased three shares of stock.
444
00:22:52,455 --> 00:22:53,913
Okay, what stock?
445
00:22:53,914 --> 00:22:56,666
- GameStop.
- Yo, Roaring Kitty!
446
00:22:56,667 --> 00:22:58,418
C'mon. Yes, James.
447
00:22:58,419 --> 00:23:01,171
Can I please put some pants back on?
448
00:23:01,172 --> 00:23:02,255
- No!
- Sit down.
449
00:23:02,256 --> 00:23:05,550
I'm three days into that shit. Look it.
That's just, that's only from today.
450
00:23:05,551 --> 00:23:07,969
I don't care.
I don't know what the fuck I'm doing.
451
00:23:07,970 --> 00:23:09,220
I just know I'm making money.
452
00:23:09,221 --> 00:23:10,764
I'm not sold on that.
453
00:23:10,765 --> 00:23:12,557
It's doubled since summer.
454
00:23:12,558 --> 00:23:15,018
And the more people who buy in,
the higher it'll go.
455
00:23:15,019 --> 00:23:17,563
That sounds like the literal definition
of a pyramid scheme.
456
00:23:18,356 --> 00:23:19,982
- That's time.
- Bravo!
457
00:23:24,278 --> 00:23:26,739
♪ You make me wanna
You make me wanna ♪
458
00:23:29,158 --> 00:23:32,452
♪ You make me wanna
You make me wanna ♪
459
00:23:32,453 --> 00:23:34,413
♪ You make me wanna ♪
460
00:23:36,457 --> 00:23:40,627
♪ You make me wanna
You make me wanna ♪
461
00:23:40,628 --> 00:23:42,296
♪ You make me wanna... ♪
462
00:23:43,339 --> 00:23:47,175
Sorry, I have terrible allergies.
And a killer headache.
463
00:23:47,176 --> 00:23:49,427
Could just be the music coming
from next door though.
464
00:23:49,428 --> 00:23:53,264
You see your buddy Ken's up to
57 billion in short positions?
465
00:23:53,265 --> 00:23:55,267
Yeah, smart. The economy's in free fall.
466
00:23:56,268 --> 00:23:57,770
Mmm.
467
00:23:59,480 --> 00:24:01,856
I honestly can't tell
if that was you or Romeo.
468
00:24:01,857 --> 00:24:03,483
Very funny.
469
00:24:03,484 --> 00:24:06,570
I'm telling you. This is when
they drag out the guillotines.
470
00:24:07,154 --> 00:24:09,280
- You're obsessed with him.
- The man is an asshole.
471
00:24:09,281 --> 00:24:13,327
He stole five analysts from me.
All mediocre by the way.
472
00:24:14,120 --> 00:24:15,328
Oh, and two paintings.
473
00:24:15,329 --> 00:24:17,622
- What paintings?
- A Picasso and a de Kooning.
474
00:24:17,623 --> 00:24:19,124
He overpaid 500 million.
475
00:24:19,125 --> 00:24:21,334
That is my entire nut from last year.
476
00:24:21,335 --> 00:24:23,128
The man is an asshole. Just admit it.
477
00:24:23,129 --> 00:24:25,547
You're just bitter
he stole those analysts.
478
00:24:25,548 --> 00:24:27,590
You seen Citadel's projected revenue?
479
00:24:27,591 --> 00:24:29,801
$7 billion.
480
00:24:29,802 --> 00:24:32,429
That's, uh, double last year.
481
00:24:32,430 --> 00:24:34,556
Hoovering up all the stimulus checks.
482
00:24:34,557 --> 00:24:36,641
- They go straight from the retail traders
- Thank you.
483
00:24:36,642 --> 00:24:38,435
Right into Kenny boy's pockets.
484
00:24:38,436 --> 00:24:42,606
The man just gets away with murder.
Look at what I just sent you.
485
00:24:50,281 --> 00:24:53,867
Is this a video of a man drinking
his own urine because a stock went up?
486
00:24:53,868 --> 00:24:55,118
#1 post on the site.
487
00:24:55,119 --> 00:24:56,745
Where did you get this?
488
00:24:56,746 --> 00:24:58,705
My analysts sent it to me.
489
00:24:58,706 --> 00:25:03,877
They call themselves apes and r-words.
Retard, can they say that?
490
00:25:03,878 --> 00:25:08,006
Remarkably self-aware. They've hooked
into GameStop for whatever reason.
491
00:25:08,007 --> 00:25:09,758
They think it's funny, it seems.
492
00:25:09,759 --> 00:25:11,134
I think it's funny.
493
00:25:11,135 --> 00:25:12,844
I think they think it's a good investment.
494
00:25:12,845 --> 00:25:15,222
Retail traders always lose.
495
00:25:17,057 --> 00:25:19,184
We've actually been short GameStop
since 2014.
496
00:25:19,185 --> 00:25:24,231
The company is a complete disaster.
They've had six CEOs in two years.
497
00:25:25,232 --> 00:25:27,734
Guess these guys are ignoring
obvious secular market trends.
498
00:25:27,735 --> 00:25:30,862
Or they're...
the stupidest people on earth.
499
00:25:30,863 --> 00:25:33,323
You're shorting more right now,
aren't you?
500
00:25:33,324 --> 00:25:35,826
600,000 shares, maybe.
501
00:25:36,410 --> 00:25:38,036
Dumb money, man.
502
00:25:38,037 --> 00:25:39,537
I'm happy to take it.
503
00:25:43,542 --> 00:25:46,420
Mmm! Mmm-mmm-mmm!
504
00:25:47,046 --> 00:25:48,755
Mmm-mmm-mmm!
505
00:25:48,756 --> 00:25:50,715
Listen up, retards,
506
00:25:50,716 --> 00:25:55,720
Melvin Capital has declared war on GME
by shorting the stock even more.
507
00:25:55,721 --> 00:25:59,808
This is our call to activate
diamond hands, my fellow warriors.
508
00:25:59,809 --> 00:26:04,813
We will not let the gay bears defeat us.
We are on a mission to the fucking moon.
509
00:26:04,814 --> 00:26:07,857
This is one that is bigger
than your personal gains.
510
00:26:07,858 --> 00:26:10,485
More than just ten dies for a new Lambo.
511
00:26:10,486 --> 00:26:14,656
This is our chance to rise up together.
To stick it to the big man.
512
00:26:14,657 --> 00:26:16,908
Squeezing Melvin by the fucking balls
513
00:26:16,909 --> 00:26:19,829
with the collective power
of diamond handing autists.
514
00:26:20,412 --> 00:26:23,832
Wall Street Bets I thought were a bunch
of idiots just throwing money at a stock
515
00:26:23,833 --> 00:26:25,542
because they thought it was funny.
516
00:26:25,543 --> 00:26:26,876
I was wrong.
517
00:26:26,877 --> 00:26:29,420
Now I see what Wall Street Bets really is.
518
00:26:29,421 --> 00:26:32,465
- It is a revolution.
- This is one of those rare moments
519
00:26:32,466 --> 00:26:34,592
where Wall Street are the ones
getting screwed over.
520
00:26:34,593 --> 00:26:36,302
And when we decide we're hungry,
521
00:26:36,303 --> 00:26:38,763
there is very little
the rich can do to stop us
522
00:26:38,764 --> 00:26:40,932
- from beating them.
- It's a GameStop to stop the game.
523
00:26:40,933 --> 00:26:43,101
- Power to the people.
- I'm jerking off right now.
524
00:26:43,102 --> 00:26:44,143
Jerking off right now.
525
00:26:44,144 --> 00:26:46,771
So welcome aboard, grab your peanuts,
526
00:26:46,772 --> 00:26:48,731
and get the fuck in, retard.
527
00:26:48,732 --> 00:26:50,900
Ho, ho, ho!
528
00:26:50,901 --> 00:26:56,322
What up, everybody? Merry Christmas,
Happy New Year's, happy holidays. Uh...
529
00:26:56,323 --> 00:26:58,741
2020... See ya.
530
00:26:58,742 --> 00:27:01,870
2020 has been a very rough year
for my family too.
531
00:27:01,871 --> 00:27:04,956
So this GameStop news
has been a bit of a bright spot.
532
00:27:04,957 --> 00:27:07,542
Uh, look at this, I mean, where it's at.
533
00:27:07,543 --> 00:27:11,254
It's a five bagger
from where it was over the summer.
534
00:27:11,255 --> 00:27:15,258
You don't often see a thesis
play out like this.
535
00:27:15,259 --> 00:27:16,342
So we gotta...
536
00:27:16,343 --> 00:27:18,971
We can't take it for granted, right?
We gotta appreciate it.
537
00:27:19,889 --> 00:27:22,308
Thank you, Santa. Right.
538
00:27:23,058 --> 00:27:26,853
Uh, I wanted to say cheers all of you.
539
00:27:26,854 --> 00:27:29,106
You're why I'm here in the first place.
540
00:27:29,773 --> 00:27:32,859
Uh, it's fun to talk about.
I mean, I figure,
541
00:27:32,860 --> 00:27:35,445
if I worked at a hedge fund,
I'd compare notes with my colleagues.
542
00:27:35,446 --> 00:27:38,031
But I don't.
I'm stuck at home like you guys. So...
543
00:27:38,032 --> 00:27:40,408
Uh, I believe in this stock.
544
00:27:40,409 --> 00:27:42,745
And I believe in this community.
545
00:27:43,412 --> 00:27:44,621
Um...
546
00:27:44,622 --> 00:27:49,501
I'll be honest, uh,
it's been kind of a shitty year.
547
00:27:50,753 --> 00:27:55,506
Uh, for a lot of people. Lotta people
lost people the past 12 months. I did too.
548
00:27:55,507 --> 00:27:57,759
Uh, my sister, Sara.
549
00:27:57,760 --> 00:27:58,843
Uh...
550
00:28:06,810 --> 00:28:08,687
I don't talk about it much.
551
00:28:10,481 --> 00:28:12,440
But it felt right to tell you.
552
00:28:12,441 --> 00:28:14,776
Uh, we've been through so much together.
553
00:28:14,777 --> 00:28:17,905
You've made me feel a part of something,
something big.
554
00:28:18,864 --> 00:28:21,700
So, uh, Merry Christmas. Cheers.
555
00:28:55,567 --> 00:28:56,694
I like your car.
556
00:28:59,196 --> 00:29:00,405
It's a classic.
557
00:29:00,406 --> 00:29:02,073
- '95.
- Yes!
558
00:29:02,074 --> 00:29:03,950
Sadly, it's a gas-guzzler.
559
00:29:03,951 --> 00:29:06,453
Yeah, yup, this one too.
560
00:29:07,413 --> 00:29:11,457
But she's such a beauty
I couldn't stand to trade her.
561
00:29:11,458 --> 00:29:13,126
'96 Honda Accord?
562
00:29:13,127 --> 00:29:16,547
Uh, 2003. Not quite a classic.
563
00:29:24,930 --> 00:29:29,017
It's kinda weird to talk to someone
and see their whole face. Right?
564
00:29:29,018 --> 00:29:30,561
It's been so long.
565
00:29:31,395 --> 00:29:35,148
I... I work at a hospital,
you could probably tell.
566
00:29:35,149 --> 00:29:36,400
Essential worker.
567
00:29:36,984 --> 00:29:38,401
Thank you for everything you do.
568
00:29:38,402 --> 00:29:39,695
Oh, you're very welcome.
569
00:29:51,165 --> 00:29:52,583
Hey, uh...
570
00:29:53,709 --> 00:29:55,127
Have a good night.
571
00:29:56,045 --> 00:29:57,171
Cool.
572
00:29:57,963 --> 00:29:59,465
Safe travels.
573
00:30:16,148 --> 00:30:18,316
Remember when
you were just making fun of me
574
00:30:18,317 --> 00:30:21,736
- and now you're literally obsessed.
- No, I don't recall.
575
00:30:21,737 --> 00:30:24,697
- How much are you up?
- 948.
576
00:30:24,698 --> 00:30:27,909
Stock dipped a little,
it was like 2,000 before Christmas.
577
00:30:27,910 --> 00:30:29,536
Maybe you should sell.
578
00:30:31,705 --> 00:30:33,831
No. It's not about the money.
579
00:30:33,832 --> 00:30:35,833
The stock market is not about the money?
580
00:30:35,834 --> 00:30:38,420
No. You just gotta read
some of the stuff on here.
581
00:30:39,004 --> 00:30:42,715
Never understood why my dad
was so pissed off about this whole thing,
582
00:30:42,716 --> 00:30:43,842
but now I do.
583
00:30:45,427 --> 00:30:46,928
I told you about his store, right?
584
00:30:46,929 --> 00:30:48,388
Costco?
585
00:30:49,056 --> 00:30:50,556
Shopko.
586
00:30:50,557 --> 00:30:52,226
It was like, this like...
587
00:30:53,060 --> 00:30:54,853
big chain in our area.
588
00:30:55,687 --> 00:30:59,566
My dad, he worked his way all the way up
from bag boy to general manager.
589
00:31:00,317 --> 00:31:03,027
Then one of these Wall Street funds
came in, bought it,
590
00:31:03,028 --> 00:31:07,490
and vampire-sucked all the money out of it
and then declared bankruptcy.
591
00:31:07,491 --> 00:31:08,659
Fuck.
592
00:31:09,785 --> 00:31:10,869
Yeah.
593
00:31:12,579 --> 00:31:15,624
He lost his pension. Everything.
594
00:31:16,959 --> 00:31:19,836
It's why he had to work at
Pick 'n fuckin' Save till the day he died.
595
00:31:19,837 --> 00:31:22,297
And now that's why
I'm up to my ass in debt.
596
00:31:23,632 --> 00:31:26,301
And these fuckers are trying to do
the same thing to GameStop.
597
00:31:27,761 --> 00:31:28,929
Fuck 'em.
598
00:31:30,556 --> 00:31:31,890
Fuck 'em all.
599
00:31:53,537 --> 00:31:55,413
- Wait, look.
- Hm?
600
00:31:55,414 --> 00:31:56,831
Look at this.
601
00:31:56,832 --> 00:31:59,709
- This guy wants to CashApp me $100
- Shut the fuck up.
602
00:31:59,710 --> 00:32:03,754
To send him a selfie. Or 500
if I live chat him from a bubble bath.
603
00:32:03,755 --> 00:32:05,673
Yes! Yes, we should do it.
604
00:32:05,674 --> 00:32:07,884
- What?
- Yes, we do it.
605
00:32:07,885 --> 00:32:10,345
And then put the money into GameStop.
606
00:32:10,888 --> 00:32:14,640
- Who am I talking to right now?
- C'mon, bitch, let's go get a tub.
607
00:32:16,351 --> 00:32:18,811
♪ We got this motherfucker lit
On some money shit ♪
608
00:32:18,812 --> 00:32:21,814
♪ Yeah, everybody's shit
Everybody's shit, yeah ♪
609
00:32:21,815 --> 00:32:24,358
♪ We got this motherfucker lit
On some money shit ♪
610
00:32:24,359 --> 00:32:27,028
♪ Everybody's shit
Everybody's shit ♪
611
00:32:27,029 --> 00:32:28,362
♪ Unh, please don't pretend... ♪
612
00:32:28,363 --> 00:32:29,530
Your entire business
613
00:32:29,531 --> 00:32:31,657
is kids spending their lunch money
on random stocks.
614
00:32:31,658 --> 00:32:33,492
They come to you because it's free.
615
00:32:33,493 --> 00:32:37,580
But if you don't charge a commission
on their trades,
616
00:32:37,581 --> 00:32:39,498
how do you make money?
617
00:32:40,460 --> 00:32:46,130
The idea for Robinhood really came out
of the Occupy Wall Street movement.
618
00:32:46,131 --> 00:32:47,840
All those people
with no way of getting in.
619
00:32:47,841 --> 00:32:50,176
Is that what Occupy was about?
620
00:32:50,177 --> 00:32:52,970
I mean, were they trying to get in or...
621
00:32:52,971 --> 00:32:55,181
So we said, it's not enough to occupy.
622
00:32:55,182 --> 00:32:58,142
- We need to democratize Wall Street.
- Nat, I'm not sure you know this,
623
00:32:58,143 --> 00:32:59,644
but Baiju and I are both immigrants.
624
00:32:59,645 --> 00:33:01,437
I was born in Bulgaria,
625
00:33:01,438 --> 00:33:04,107
and Baiju's parents immigrated from India
to the Deep South.
626
00:33:04,983 --> 00:33:08,653
Can you imagine growing up
in rural Virginia with a name like
627
00:33:08,654 --> 00:33:11,697
Baiju Prafulkumar Bhatt?
628
00:33:11,698 --> 00:33:15,034
We created commission-free trading
so that anyone can get in the game.
629
00:33:15,035 --> 00:33:18,579
You don't even need a bank account.
People have really responded.
630
00:33:18,580 --> 00:33:22,541
We've added 5 million users,
uh, in the last six months,
631
00:33:22,542 --> 00:33:25,378
- for a total of, um...
- Close to 20 at this point. Million.
632
00:33:25,379 --> 00:33:27,213
So, you're one of these tech companies
633
00:33:27,214 --> 00:33:29,548
that's exploded growth-wise,
but doesn't make any money.
634
00:33:29,549 --> 00:33:31,384
- We make money.
- But how?
635
00:33:31,385 --> 00:33:34,387
- If you don't charge commission then...
- From interest on people's accounts.
636
00:33:34,388 --> 00:33:35,972
But your users are mostly young.
637
00:33:35,973 --> 00:33:38,766
So, how much money can they
really be keeping in their account?
638
00:33:38,767 --> 00:33:40,393
There's also payment for order flow.
639
00:33:40,394 --> 00:33:41,311
What's that?
640
00:33:41,312 --> 00:33:44,188
We prefer the term "stock order routing."
641
00:33:44,189 --> 00:33:46,148
When you buy or sell a stock on our app,
642
00:33:46,149 --> 00:33:48,943
we send your order to market makers,
who process the order.
643
00:33:48,944 --> 00:33:51,320
They pay us a tiny rebate on every trade.
644
00:33:51,321 --> 00:33:53,114
- Tiny.
- But it adds up.
645
00:33:53,115 --> 00:33:55,449
We should really get back to how we...
started our company.
646
00:33:55,450 --> 00:33:56,951
What market maker do you work with?
647
00:33:56,952 --> 00:33:59,245
A few. Citadel Securities mostly.
648
00:33:59,246 --> 00:34:01,622
Ken Griffin's firm?
Isn't that a hedge fund?
649
00:34:01,623 --> 00:34:05,209
Well, Ken Griffin's hedge fund
is called Citadel.
650
00:34:05,210 --> 00:34:07,878
But Citadel Securities
is a completely different company.
651
00:34:07,879 --> 00:34:09,673
Also owned by Ken Griffin?
652
00:34:11,091 --> 00:34:12,175
All right,
653
00:34:12,843 --> 00:34:15,512
we weren't gonna do this,
but we'll give you a scoop.
654
00:34:16,179 --> 00:34:18,015
Off the record for now.
655
00:34:18,682 --> 00:34:19,725
Okay.
656
00:34:21,059 --> 00:34:22,978
We're looking to IPO soon.
657
00:34:24,855 --> 00:34:27,357
Damn. Okay.
658
00:34:28,483 --> 00:34:29,483
That's big.
659
00:34:30,819 --> 00:34:33,779
♪ Girl, I can buy your ass the world
With my paystub ♪
660
00:34:33,780 --> 00:34:37,158
♪ Ooh, that pussy good
Won't you sit it on my taste bloods? ♪
661
00:34:37,159 --> 00:34:40,453
♪ I get way too petty
Once you let me do the extras ♪
662
00:34:40,454 --> 00:34:43,414
♪ Pull up on your block then break it down
We playin' Tetris ♪
663
00:34:43,415 --> 00:34:46,625
♪ AM to the PM, PM to the AM, funk ♪
664
00:34:46,626 --> 00:34:49,837
♪ Piss out your per diem
You just gotta hate 'em, funk ♪
665
00:34:49,838 --> 00:34:51,297
♪ If I quit your BM ♪
666
00:34:51,298 --> 00:34:53,507
♪ Hold up
Sit down, lil bitch ♪
667
00:34:53,508 --> 00:34:55,426
♪ Be humble, lil bitch... ♪
668
00:34:55,427 --> 00:34:56,802
Okay, don't say the bad word.
669
00:34:56,803 --> 00:34:58,054
♪ Be humble ♪
670
00:34:58,055 --> 00:34:59,722
♪ Sit down ♪
671
00:34:59,723 --> 00:35:01,307
♪ ...be humble... ♪
672
00:35:01,308 --> 00:35:03,977
♪ Sit down, be humble ♪
673
00:35:04,603 --> 00:35:05,895
- ♪ Sit down ♪
- ♪ Sit down ♪
674
00:35:05,896 --> 00:35:07,813
- ♪ ...be humble ♪
- ♪ Hold up, lil bitch ♪
675
00:35:07,814 --> 00:35:10,566
- ♪ Sit down, be humble ♪
- ♪ Sit down, lil bitch ♪
676
00:35:10,567 --> 00:35:12,693
- ♪ Bitch, sit down ♪
- ♪ Hold up... ♪
677
00:35:12,694 --> 00:35:14,945
♪ Be humble, sit down, lil bitch ♪
678
00:35:14,946 --> 00:35:17,198
Kev, please.
Your father needs to concentrate.
679
00:35:17,199 --> 00:35:18,407
♪ Well, sit down, lil bitch ♪
680
00:35:18,408 --> 00:35:21,285
Drove long-haul for forty years.
I don't need to concentrate.
681
00:35:21,286 --> 00:35:23,704
Fine. I need to concentrate.
682
00:35:23,705 --> 00:35:25,956
What do you need to concentrate about?
683
00:35:25,957 --> 00:35:27,124
What?
684
00:35:27,125 --> 00:35:29,335
I thought they were veering over
into our lane.
685
00:35:29,336 --> 00:35:31,922
Nobody was veering, Elaine.
It's okay.
686
00:35:35,884 --> 00:35:37,927
You talk to any of the girls
at the clinic?
687
00:35:37,928 --> 00:35:39,638
A few of them have called.
688
00:35:42,933 --> 00:35:44,350
I miss it.
689
00:35:44,351 --> 00:35:46,186
Boys, never retire.
690
00:35:46,853 --> 00:35:48,522
Keith, never retire.
691
00:35:49,189 --> 00:35:51,190
Kevin, if you ever get a job,
never retire.
692
00:35:51,191 --> 00:35:52,274
I have a job!
693
00:35:52,275 --> 00:35:54,568
Yet you still live with Ma and Dad.
694
00:35:54,569 --> 00:35:58,197
Oh, you're some big professional now
cuz you're fucking king dork on YouTube?
695
00:35:58,198 --> 00:35:59,532
Just one of many dorks.
696
00:35:59,533 --> 00:36:01,867
This asshole
thinks he's Jimmy Buffett now.
697
00:36:01,868 --> 00:36:03,452
- C'mon.
- Warren Buffett.
698
00:36:03,453 --> 00:36:05,496
- Warren Buffett.
- See?
699
00:36:05,497 --> 00:36:08,500
You're not either of the Buffetts, Kitty!
700
00:36:11,753 --> 00:36:13,004
You're Ballz?
701
00:36:16,299 --> 00:36:18,008
- Hey!
- Ah, good Christ.
702
00:36:18,009 --> 00:36:18,927
- Fellas.
- Ma.
703
00:36:18,928 --> 00:36:21,388
Drop! Stop it!
704
00:36:25,851 --> 00:36:27,018
Door Dash is not a job.
705
00:36:28,186 --> 00:36:29,228
MassMutual's a job.
706
00:36:29,229 --> 00:36:31,480
- A job's got business cards.
- Door Dash is a job.
707
00:36:31,481 --> 00:36:32,773
Okay, I'm a first responder.
708
00:36:32,774 --> 00:36:35,569
And second of all, Ma,
nobody uses business cards anymore.
709
00:36:37,320 --> 00:36:39,239
We're proud of you, honey.
710
00:36:40,282 --> 00:36:41,532
Get a room.
711
00:37:01,428 --> 00:37:04,431
Take your time. I'll be in the car.
712
00:37:16,610 --> 00:37:17,944
Yeah.
713
00:37:26,536 --> 00:37:27,829
Love you.
714
00:37:51,895 --> 00:37:53,479
It has been dragging on.
715
00:37:53,480 --> 00:37:55,773
Honestly, I don't know
when we'll be able to start demo
716
00:37:55,774 --> 00:37:57,608
because local ordinances are a nightmare.
717
00:37:57,609 --> 00:38:00,861
My heart bleeds for you.
Having to borrow a tennis court.
718
00:38:00,862 --> 00:38:02,655
"Borrower is slave to the lender."
719
00:38:02,656 --> 00:38:03,697
Is that Buffett?
720
00:38:03,698 --> 00:38:06,909
It's the Bible. Uh, Proverbs.
My Grandpa Melvin used to say it.
721
00:38:06,910 --> 00:38:08,619
When he was starting
his convenience store,
722
00:38:08,620 --> 00:38:09,954
he refused to borrow one dollar.
723
00:38:09,955 --> 00:38:10,996
It was a point of pride.
724
00:38:10,997 --> 00:38:12,790
Ah, yes, your humble beginnings.
725
00:38:12,791 --> 00:38:16,920
"Grandpa Melvin" Capital,
now with 16 billion under management.
726
00:38:17,504 --> 00:38:20,172
Better than "Citadel."
You sound like you're preparing for war.
727
00:38:20,173 --> 00:38:21,298
I'm a man of the people.
728
00:38:21,299 --> 00:38:22,508
You rented out a resort,
729
00:38:22,509 --> 00:38:25,928
and relocated your entire firm here
so you could stay open during lockdown.
730
00:38:25,929 --> 00:38:29,181
Says the man who flew his whole firm
down private just for a party.
731
00:38:29,182 --> 00:38:31,100
And anyway,
what kind of company shuts down
732
00:38:31,101 --> 00:38:32,977
just because the government tells them to?
733
00:38:32,978 --> 00:38:35,187
All the ones in your short portfolio.
734
00:38:35,188 --> 00:38:37,147
- And yours.
- Ah!
735
00:38:37,148 --> 00:38:39,775
- All except for one actually.
- Which one?
736
00:38:39,776 --> 00:38:41,735
- GameStop.
- How?
737
00:38:41,736 --> 00:38:44,405
They sell computer mouses. Mice?
738
00:38:44,406 --> 00:38:46,574
They claim it makes them
an essential business.
739
00:38:46,575 --> 00:38:49,159
That is the smartest dumbest thing
I've ever heard.
740
00:38:49,160 --> 00:38:51,954
I know, it's actually a fun one.
The revenue's in the toilet.
741
00:38:51,955 --> 00:38:54,748
632 million net loss last year.
742
00:38:54,749 --> 00:38:57,793
They'd be better off just burning
the whole company down.
743
00:38:57,794 --> 00:39:00,963
The stock though, it has been volatile.
It's been up.
744
00:39:00,964 --> 00:39:03,549
- Buybacks?
- Retail traders.
745
00:39:03,550 --> 00:39:05,759
Bro. I don't have it, bro.
746
00:39:05,760 --> 00:39:06,885
- Damn, brother.
- Sorry, man.
747
00:39:06,886 --> 00:39:08,345
- Yeah, yeah, yeah.
- Have a good one, bro.
748
00:39:08,346 --> 00:39:10,765
- Yo, stay up though! Aight, bro. Aight.
- Yeah.
749
00:39:16,438 --> 00:39:18,063
I'm gonna put these back real quick.
750
00:39:25,572 --> 00:39:26,740
Hey, Marcos.
751
00:39:27,699 --> 00:39:28,867
Yes, Bradley?
752
00:39:30,160 --> 00:39:32,703
Uh, I... I love how you engaged
with that customer,
753
00:39:32,704 --> 00:39:34,997
but we really wanna close
those pre-owned sales.
754
00:39:34,998 --> 00:39:36,373
The margin's more than double.
755
00:39:36,374 --> 00:39:37,875
Oh shit, double.
756
00:39:37,876 --> 00:39:39,835
Yeah, you didn't do
any of the five prongs, dude:
757
00:39:39,836 --> 00:39:43,297
Pre-orders. Reward-card subscriptions.
Used sales. New sales. Trade-ins.
758
00:39:43,298 --> 00:39:45,090
Yeah, I mean,
when I was a 16-year old gamer,
759
00:39:45,091 --> 00:39:47,092
all I wanted was a reward-card
subscription.
760
00:39:47,093 --> 00:39:50,430
$5 cash back monthly,
20 points for every dollar spent...
761
00:39:51,014 --> 00:39:51,848
Don't get me started.
762
00:39:51,849 --> 00:39:54,433
A lot of really smart people in corporate
put this plan together.
763
00:39:54,434 --> 00:39:56,852
Yeah, but any of them
ever played a video game?
764
00:39:56,853 --> 00:39:59,813
Uh, it doesn't matter, Marcos,
because they own our asses.
765
00:39:59,814 --> 00:40:02,984
Yo, they don't own my ass, so.
766
00:40:03,526 --> 00:40:04,610
They do,
767
00:40:04,611 --> 00:40:06,071
and they always will.
768
00:40:09,157 --> 00:40:10,200
Mask.
769
00:40:12,118 --> 00:40:13,370
Hey, Bradley.
770
00:40:16,498 --> 00:40:18,583
You ever heard of a short squeeze?
771
00:40:26,341 --> 00:40:28,134
Is that a sexual thing?
772
00:40:29,969 --> 00:40:31,346
No.
773
00:40:32,806 --> 00:40:34,181
Oh, yeah!
774
00:40:34,182 --> 00:40:36,809
Here's what's going on.
Late last year,
775
00:40:36,810 --> 00:40:41,480
hedge funds started shorting stock
in the retail store GameStop.
776
00:40:41,481 --> 00:40:45,067
Meaning they had bet against it
and needed it to drop in price
777
00:40:45,068 --> 00:40:48,862
for their investments to be successful.
Now unfortunately for the hedge funds,
778
00:40:48,863 --> 00:40:54,410
small investors started buying the stock
led by something called Wall Street Bets,
779
00:40:54,411 --> 00:40:58,080
a popular, juvenile,
foul-mouthed Reddit page.
780
00:40:58,081 --> 00:40:59,915
And when Wall Street Bets noticed
781
00:40:59,916 --> 00:41:03,752
that hedge funds had taken
a large short position in GameStop stock,
782
00:41:03,753 --> 00:41:06,422
they decided to punish
the Wall Street big boys
783
00:41:06,423 --> 00:41:09,259
and launched a coordinated buying spree.
784
00:41:09,884 --> 00:41:12,886
The revolutionaries on Reddit
are spanking Wall Street's ass.
785
00:41:12,887 --> 00:41:18,976
GameStop shares absolutely going nuts.
I think it was up over 70% at one point.
786
00:41:18,977 --> 00:41:20,936
- Massive short squeeze,
- Show me...
787
00:41:20,937 --> 00:41:23,689
- closing there, with a gain of 51%
- the tendiesss!
788
00:41:23,690 --> 00:41:25,649
After traders on message boards...
789
00:41:29,070 --> 00:41:30,487
What?
790
00:41:30,488 --> 00:41:35,492
Happy Wednesday! Happy hump day!
Gee... look at this!
791
00:41:35,493 --> 00:41:36,910
Look at this shit!
792
00:41:36,911 --> 00:41:40,122
A 90% increase in one day?
In one fucking day!
793
00:41:40,123 --> 00:41:43,500
We're goin' to the mooooon.
794
00:41:43,501 --> 00:41:46,670
Whoa-ho-ho-ho!
795
00:41:46,671 --> 00:41:49,298
Okay, now, if you've been watching
this price action,
796
00:41:49,299 --> 00:41:50,466
this is what I'm talking about.
797
00:41:50,467 --> 00:41:52,551
Yeah, but you can really feel that panic
from Wall Street, right.
798
00:41:52,552 --> 00:41:54,928
When they... we're starting to feel
a little squeeze. Starting to feel it.
799
00:41:54,929 --> 00:41:56,472
You're starting to really feel
a little squeeze.
800
00:41:56,473 --> 00:41:59,266
I need a drink. I need a drink.
I know we all drinking tonight.
801
00:41:59,267 --> 00:42:00,809
We fucking did it!
802
00:42:00,810 --> 00:42:03,604
We started from the bottom
and now we're here!
803
00:42:03,605 --> 00:42:06,982
Let's raise a glass
804
00:42:06,983 --> 00:42:10,904
to a great company
that's undervalued, cheers.
805
00:42:11,488 --> 00:42:15,115
Soon may the tendiemen come...
Show me the ten dies. Show me the ten dies.
806
00:42:15,116 --> 00:42:16,366
I got 'em right here.
807
00:42:16,367 --> 00:42:19,745
Show me the ten dies. I just gotta...
I just gotta dip.
808
00:42:19,746 --> 00:42:22,457
I just gotta... I just gotta dip. Ah!
809
00:42:23,875 --> 00:42:24,709
Mmm.
810
00:42:24,710 --> 00:42:27,544
♪ No way
And I would do... ♪
811
00:42:27,545 --> 00:42:30,380
Mmm-mmm-mmm.
812
00:42:30,381 --> 00:42:32,090
11 fucking million dollars?
813
00:42:32,091 --> 00:42:33,051
What the fuck!
814
00:42:33,052 --> 00:42:35,803
- Oh, language. The baby's here.
- What are you gonna do?
815
00:42:35,804 --> 00:42:38,096
Get a Ferrari? A Lambo?
816
00:42:38,097 --> 00:42:39,848
Caroline, you're gonna ask for
a big diamond, right?
817
00:42:39,849 --> 00:42:41,225
I have a diamond.
818
00:42:41,226 --> 00:42:43,685
Keith, you get a fucking diamond!
If I were you, I'd look like
819
00:42:43,686 --> 00:42:46,271
- DJ Khaled right now.
- Kev! It's not real.
820
00:42:46,272 --> 00:42:47,898
I mean, it's real, but it's just paper.
821
00:42:47,899 --> 00:42:50,984
Just on paper! You're gonna sell, right?
822
00:42:50,985 --> 00:42:52,278
- No!
- Maybe.
823
00:42:52,821 --> 00:42:55,531
I mean, I don't know. Uh...
824
00:42:55,532 --> 00:42:59,034
- We... we haven't talked about it.
- What the fuck is wrong with you?
825
00:42:59,035 --> 00:43:02,287
I'm riding Mom's bike every day
to Dorchester to drop off cheeseburgers
826
00:43:02,288 --> 00:43:03,747
because you won't let me use
your fucking car.
827
00:43:03,748 --> 00:43:05,916
And you're mister "I won't sell
and take millions of dollars."
828
00:43:05,917 --> 00:43:08,252
And, well, what you do with your life
is your choice.
829
00:43:08,253 --> 00:43:11,171
You think I wanted to get laid off
from Dick's during a global pandemic?
830
00:43:11,172 --> 00:43:14,383
I love those sneakers, man.
I loved that store. I love Dick's.
831
00:43:14,384 --> 00:43:17,469
- Mom's bike doesn't even have gears.
- We don't know if it's reached the top.
832
00:43:17,470 --> 00:43:20,389
The stock jumped like 23% yesterday.
833
00:43:20,390 --> 00:43:22,266
- Double from Friday's close.
- But he's right.
834
00:43:22,267 --> 00:43:24,643
I mean, 11 million dollars
is a lot of fucking dough.
835
00:43:24,644 --> 00:43:25,894
- Thank you!
- Okay, yes,
836
00:43:25,895 --> 00:43:29,022
but since Ryan Cohen
joined the board, the...
837
00:43:29,023 --> 00:43:30,357
This fucking guy.
838
00:43:30,358 --> 00:43:32,776
Got a 2 billion market cap.
I mean, could it go pff? Yeah.
839
00:43:32,777 --> 00:43:35,738
But that's not what I'm seeing.
That's not what I'm seeing, Kev.
840
00:43:36,823 --> 00:43:38,575
Kev? You there?
841
00:43:41,202 --> 00:43:42,328
Did he hang up?
842
00:43:43,037 --> 00:43:44,372
Yeah.
843
00:43:54,883 --> 00:43:56,758
Fuck, I think hold.
844
00:44:00,054 --> 00:44:02,764
- Girl, you gotta sell.
- I'm not selling.
845
00:44:02,765 --> 00:44:03,974
How much are you up?
846
00:44:03,975 --> 00:44:05,976
58,000 and some change.
847
00:44:08,438 --> 00:44:10,856
Baby girl, what the fuck?
848
00:44:10,857 --> 00:44:12,983
You need to get out while you can.
849
00:44:12,984 --> 00:44:15,652
- Don't be an idiot.
- You remember red headband guy.
850
00:44:15,653 --> 00:44:19,156
He's worth 11 million dollars.
And he's not selling.
851
00:44:19,157 --> 00:44:21,199
- No fucking way.
- Yes fucking way.
852
00:44:21,200 --> 00:44:23,828
This is what I'm telling you.
Diamond hands.
853
00:44:24,996 --> 00:44:28,540
Diamond hands. You hold the line
no matter what the market does.
854
00:44:28,541 --> 00:44:29,958
No matter what Wall Street says.
855
00:44:29,959 --> 00:44:32,002
What happens
when everyone else sells first,
856
00:44:32,003 --> 00:44:34,755
and before you get out
you've lost all your money?
857
00:44:34,756 --> 00:44:36,506
Are there any volunteers?
858
00:44:36,507 --> 00:44:38,383
- I'm...
- Anyone?
859
00:44:38,384 --> 00:44:40,594
- We're gonna hold the line.
- C'mon.
860
00:44:40,595 --> 00:44:42,722
- Someone has to go first.
- Okay, yeah. I'll do it.
861
00:44:48,102 --> 00:44:49,645
Here we go everyone.
862
00:44:49,646 --> 00:44:52,648
The first Covid vaccine
at Pittsburgh Presbyterian.
863
00:44:52,649 --> 00:44:54,107
Ah!
864
00:44:54,108 --> 00:44:55,567
Fuck! Fuck!
865
00:44:55,568 --> 00:44:59,572
Fuck! Guys, we need your help.
What should we do?
866
00:45:00,823 --> 00:45:04,660
So listen, my girl bought in under 20
and now it is over 60.
867
00:45:04,661 --> 00:45:06,578
So like, should she sell?
868
00:45:06,579 --> 00:45:08,873
On the one hand, she has principles.
869
00:45:09,916 --> 00:45:13,293
On the other,
she has 100k in student debt. So...
870
00:45:13,294 --> 00:45:16,046
One way you could think
about the comparison between
871
00:45:16,047 --> 00:45:18,674
Marxism and Utilitarian tradition
872
00:45:18,675 --> 00:45:22,386
is that they both have a micro story
and a macro story.
873
00:45:22,387 --> 00:45:24,763
When you think of Utilitarian tradition...
874
00:45:24,764 --> 00:45:29,185
The only thing that would convince her
to sell is if Roaring Kitty sold.
875
00:45:30,395 --> 00:45:32,813
So... Where my pussy at?
876
00:45:32,814 --> 00:45:35,899
You have the micro story
for the Pareto principle
877
00:45:35,900 --> 00:45:38,653
for how each individual action will go.
878
00:45:39,487 --> 00:45:40,737
But you also have a macro story.
879
00:45:40,738 --> 00:45:42,864
Where my pussy at? Where my pussy at?
880
00:45:42,865 --> 00:45:45,033
- Where my pussy at?!
- Sorry.
881
00:45:45,034 --> 00:45:48,286
Where my pussy aaaaatttt?!
882
00:45:48,287 --> 00:45:49,830
I'm so sorry.
883
00:45:49,831 --> 00:45:53,208
Hey, hey, where my pussy at? Ha!
884
00:45:53,209 --> 00:45:56,087
- Where is my pussy at?
- It's not in here.
885
00:46:17,025 --> 00:46:18,775
Whoa,
886
00:46:18,776 --> 00:46:21,362
wait, listen, hold on.
887
00:46:22,697 --> 00:46:26,366
"Future generations will look back
and say 'Good men stood here,
888
00:46:26,367 --> 00:46:29,077
good men fought,
and died on this ground...
889
00:46:29,078 --> 00:46:33,750
as they point to a TradingView daily chart
of GME zoomed in on January.'
890
00:46:34,417 --> 00:46:36,084
Since the spawn of the stonkmarket,
891
00:46:36,085 --> 00:46:38,712
"two classes of people
have been pitted against each other..."
892
00:46:38,713 --> 00:46:43,300
"Eternal enemies, forever forced and
fated to combat: lions and hyenas."
893
00:46:43,301 --> 00:46:47,095
"These lions...
these Wall Street hedge funds have it all.
894
00:46:47,096 --> 00:46:48,263
Billions of dollars,
895
00:46:48,264 --> 00:46:53,226
bail outs for reckless trades,
these dirty fucking criminal bastards."
896
00:46:53,227 --> 00:46:57,981
Yup, these fucking motherfuckers.
897
00:46:57,982 --> 00:46:59,566
"And then there's us."
898
00:46:59,567 --> 00:47:04,238
The working man, the average Joe.
What do we have?
899
00:47:04,822 --> 00:47:07,616
What the fuck do we have?
900
00:47:07,617 --> 00:47:09,701
"They literally call us 'dumb money.'"
901
00:47:09,702 --> 00:47:11,536
"These lions, these hedge fund guys,"
902
00:47:11,537 --> 00:47:13,538
were born with silver spoons
in their mouths.
903
00:47:13,539 --> 00:47:15,165
The top 1% of the 1%.
904
00:47:15,166 --> 00:47:18,835
"They have massive bank accounts,
eat medium rare Grade A Wagyu steak."
905
00:47:18,836 --> 00:47:21,213
What the fuck is that?
That sounds delicious.
906
00:47:21,214 --> 00:47:23,632
"With truffle shavings for lunch."
That's fuck!
907
00:47:23,633 --> 00:47:25,467
"They frequent the finest strip clubs.
908
00:47:25,468 --> 00:47:27,636
They have blow and escorts
on their yacht parties."
909
00:47:27,637 --> 00:47:29,554
Why do we hate these guys?
910
00:47:29,555 --> 00:47:31,598
"Then you know what
they will tell these escorts?"
911
00:47:31,599 --> 00:47:33,767
- What's an escort?
- Stop listening!
912
00:47:33,768 --> 00:47:38,064
"When the smoking hot blonde asks them,
'Like, how do you have so much money?'"
913
00:47:38,981 --> 00:47:43,820
"You know what they say? They say
'Ha, dumb money, babe. Dumb money.'"
914
00:47:46,030 --> 00:47:48,782
Something's burning.
915
00:47:48,783 --> 00:47:51,326
Oh... damn it.
916
00:47:51,327 --> 00:47:53,162
- Shit!
- You said "shit".
917
00:48:02,004 --> 00:48:06,092
"Last, the GME trade is about
class warfare. Plain and simple."
918
00:48:06,801 --> 00:48:10,053
We may be hyenas, yes. But guess what?
919
00:48:10,054 --> 00:48:13,391
"You put enough of us together,
and we can destroy a lion."
920
00:48:14,559 --> 00:48:17,394
It's on, motherfuckers!
921
00:48:19,564 --> 00:48:21,898
Aw, we coming for y'all.
922
00:48:21,899 --> 00:48:23,817
Y'all better get ready.
923
00:48:23,818 --> 00:48:25,068
We fucking coming for you.
924
00:48:25,069 --> 00:48:27,780
That is some nerdy shit, man.
925
00:48:28,447 --> 00:48:31,117
My brother is a fucking nerd.
926
00:48:37,456 --> 00:48:39,500
Fuck!
927
00:48:45,089 --> 00:48:47,883
Counting down from 5
and then I'm coming back in there.
928
00:48:47,884 --> 00:48:49,926
I don't think you want that.
929
00:48:51,470 --> 00:48:52,470
5.
930
00:48:53,055 --> 00:48:54,806
- 4.
- 3.
931
00:48:54,807 --> 00:48:56,057
2.
932
00:48:57,268 --> 00:48:58,643
Thank you.
933
00:48:58,644 --> 00:49:00,478
- How was your day?
- Long.
934
00:49:00,479 --> 00:49:05,067
It's so hard to keep them focused
on Zoom school. They're just not into it.
935
00:49:05,943 --> 00:49:07,569
How was your day?
936
00:49:07,570 --> 00:49:08,738
Good.
937
00:49:11,032 --> 00:49:13,491
You're not worried
about the short squeeze thing?
938
00:49:13,492 --> 00:49:15,577
The dam'll break next week.
939
00:49:15,578 --> 00:49:18,163
A few of them will decide it's gone
high enough, they'll cash out,
940
00:49:18,164 --> 00:49:21,249
the rest will follow,
whole thing will come crashing down.
941
00:49:21,250 --> 00:49:24,420
I can't think of the last short squeeze
that actually worked.
942
00:49:25,379 --> 00:49:26,714
Ackman and Herbalife.
943
00:49:27,298 --> 00:49:29,299
Before that... Piggly Wiggly?
944
00:49:29,300 --> 00:49:30,634
Piggly Wiggly.
945
00:49:30,635 --> 00:49:35,305
Yeah. 1923, a bear cartel was shorting
the Piggly Wiggly grocery store.
946
00:49:35,306 --> 00:49:40,352
The founder, he takes out a loan
for what would be $150 million today.
947
00:49:40,353 --> 00:49:42,812
He buys back almost all the stock,
like 99% of the stock.
948
00:49:42,813 --> 00:49:45,148
The price of the stock goes up 50%.
949
00:49:45,149 --> 00:49:47,400
- How much is GameStop up?
- Then, the exchange,
950
00:49:47,401 --> 00:49:49,277
they halt trading on the stock
951
00:49:49,278 --> 00:49:52,113
so the short sellers
can cover their positions.
952
00:49:52,114 --> 00:49:53,782
Is that legal?
953
00:49:53,783 --> 00:49:56,535
The founder had to
declare bankruptcy. So...
954
00:49:57,411 --> 00:49:58,912
it was all fine in the end.
955
00:49:58,913 --> 00:50:01,457
And you knew all that or you looked it up?
956
00:50:02,750 --> 00:50:04,710
Every fund manager knows that story.
957
00:50:08,798 --> 00:50:10,174
You looked it up.
958
00:50:12,009 --> 00:50:13,886
Double checked some numbers maybe.
959
00:50:23,271 --> 00:50:26,189
Oh, do you see what's going on at GME?
960
00:50:26,190 --> 00:50:28,483
- There's more of these idiots.
- A lot more.
961
00:50:28,484 --> 00:50:32,404
- They won't hold much longer.
- Oh, Gabe, honey, they're holding.
962
00:50:32,405 --> 00:50:34,489
It just crossed a hundred.
963
00:50:36,784 --> 00:50:38,368
Gabe?
964
00:50:38,369 --> 00:50:39,870
Where are you?
965
00:50:44,292 --> 00:50:46,293
You should probably dial in.
966
00:50:46,294 --> 00:50:47,919
Yeah, be on in one sec.
967
00:50:47,920 --> 00:50:50,630
GameStop, extraordinary volatility today.
968
00:50:50,631 --> 00:50:52,882
You know, we might want
to make this the stock of the day.
969
00:50:52,883 --> 00:50:56,219
Now that it's gaining 103%.
That is volatility.
970
00:50:56,220 --> 00:50:58,221
I will tell you,
I've never seen anything like it.
971
00:50:58,222 --> 00:51:00,807
Um, I'm concerned about it deeply.
972
00:51:00,808 --> 00:51:03,101
I'm calling it the ultimate short squeeze.
973
00:51:03,102 --> 00:51:05,770
- How much money is being made...
- Holy fucking shit.
974
00:51:05,771 --> 00:51:08,106
Now we're gonna talk about GameStop.
Those shares...
975
00:51:08,107 --> 00:51:11,234
- nonstop earning about of 130% today.
- Holy fucking shit!
976
00:51:11,235 --> 00:51:13,320
As bullish retail traders
frenetically buy shares.
977
00:51:13,321 --> 00:51:14,238
Holy fucking shit!
978
00:51:14,239 --> 00:51:15,614
Yo, holy shit!
979
00:51:16,198 --> 00:51:17,991
- Shit balls.
- Holy shit!
980
00:51:17,992 --> 00:51:19,701
You look at the chart for the month.
981
00:51:19,702 --> 00:51:22,330
- It's up 220%.
- Oh, fuck!
982
00:51:22,913 --> 00:51:24,622
- Look there... It's crazy.
- Everything okay?
983
00:51:24,623 --> 00:51:26,374
Holy fucking shit!
984
00:51:26,375 --> 00:51:27,584
Holy fucking shit!
985
00:51:27,585 --> 00:51:31,254
If you go short in some of these
elaborate options trades,
986
00:51:31,255 --> 00:51:33,465
you can lose money to infinity.
987
00:51:33,466 --> 00:51:37,135
GameStop now at 123
and change, another record high.
988
00:51:37,136 --> 00:51:38,136
Holy fucking shit!
989
00:51:38,137 --> 00:51:40,430
Completely disconnected
from the fundamentals.
990
00:51:40,431 --> 00:51:43,516
And this is very much being driven
by retail investors.
991
00:51:43,517 --> 00:51:45,310
Many of them trading on Robinhood.
992
00:51:45,311 --> 00:51:48,188
When the music stops,
somebody is gonna be left without a seat.
993
00:51:48,189 --> 00:51:49,898
This for casino money only.
994
00:51:49,899 --> 00:51:51,941
They're literally putting the game
in GameStop.
995
00:51:51,942 --> 00:51:53,985
Is the craziest I think I've ever seen.
996
00:51:53,986 --> 00:51:57,822
True investors never heard of Reddit
a few years ago.
997
00:51:57,823 --> 00:51:59,699
But for that to drive a short squeeze...
998
00:51:59,700 --> 00:52:01,159
It is Wall Street Bets.
999
00:52:01,160 --> 00:52:03,912
It's worth going to the site
because it is incredibly compelling.
1000
00:52:03,913 --> 00:52:06,748
You may think it's froth,
but they are using arguments
1001
00:52:06,749 --> 00:52:08,792
that they think hold up under scrutiny.
1002
00:52:08,793 --> 00:52:11,294
- I just like the stock!
- I can't look.
1003
00:52:11,295 --> 00:52:13,505
- I can't look. I can't look.
- It's up another 4%.
1004
00:52:13,506 --> 00:52:15,882
I'm gonna have a fucking heart attack.
Should we sell?
1005
00:52:15,883 --> 00:52:17,759
And betray your boyfriend?
Absolutely not. No.
1006
00:52:17,760 --> 00:52:19,761
- The stock is up 581%.
- Maybe.
1007
00:52:19,762 --> 00:52:21,930
They are being very specific:
1008
00:52:21,931 --> 00:52:23,223
- To break the shorts.
- Yes.
1009
00:52:23,224 --> 00:52:25,350
I mean, what's going on
in GameStop right now
1010
00:52:25,351 --> 00:52:27,185
conceivably could take
a couple of firms out.
1011
00:52:27,186 --> 00:52:30,021
Hedge funds if they were
stupid enough to be short.
1012
00:52:30,022 --> 00:52:32,066
Babe, how much did we make today?
1013
00:52:33,526 --> 00:52:34,526
5 million.
1014
00:52:34,985 --> 00:52:36,486
And yesterday?
1015
00:52:36,487 --> 00:52:37,655
4 million.
1016
00:52:40,199 --> 00:52:41,199
Babe...
1017
00:52:41,742 --> 00:52:42,785
Yeah?
1018
00:52:43,744 --> 00:52:46,454
We're, like, really fucking rich.
1019
00:52:53,129 --> 00:52:54,880
How much did we lose today?
1020
00:52:57,425 --> 00:52:58,425
A billion.
1021
00:53:00,928 --> 00:53:01,928
And yesterday?
1022
00:53:03,472 --> 00:53:04,473
A billion.
1023
00:53:09,354 --> 00:53:12,147
Some news to bring you right now
is that Melvin Capital Management,
1024
00:53:12,148 --> 00:53:16,276
this is the hedge fund
that had shorted this company,
1025
00:53:16,277 --> 00:53:21,948
that had effectively been attacked
by an army of investors trying to push up
1026
00:53:21,949 --> 00:53:24,784
and press up the stock of GameStop.
1027
00:53:24,785 --> 00:53:27,370
They've taken a rather huge loss...
1028
00:53:27,371 --> 00:53:30,291
Sorry, if you could just
put your head up for a sec?
1029
00:53:30,958 --> 00:53:31,958
Thanks.
1030
00:53:32,376 --> 00:53:33,794
How long've you been down here?
1031
00:53:34,295 --> 00:53:35,295
A few months.
1032
00:53:36,589 --> 00:53:37,923
You like the weather?
1033
00:53:40,092 --> 00:53:43,553
Heat is nice. The humidity not as much.
1034
00:53:43,554 --> 00:53:45,388
I can see that.
1035
00:53:45,389 --> 00:53:48,976
- Hm.
- All right, I think you're good to go.
1036
00:54:14,668 --> 00:54:16,586
- Hey!
- Hey, man.
1037
00:54:16,587 --> 00:54:18,421
- Hi.
- It's good to connect.
1038
00:54:18,422 --> 00:54:19,631
You too. Great to be here.
1039
00:54:19,632 --> 00:54:20,798
- Excited.
- I'm glad you are.
1040
00:54:20,799 --> 00:54:22,592
Listen, I want to get right to it.
1041
00:54:22,593 --> 00:54:25,471
From what I'm hearing,
you guys are bankrupt.
1042
00:54:27,223 --> 00:54:28,723
No! What? No.
1043
00:54:28,724 --> 00:54:31,809
'Cause the word on the street
is that you're drowning.
1044
00:54:31,810 --> 00:54:34,062
No, that's... That's crazy.
1045
00:54:34,063 --> 00:54:36,565
- We're doing great.
- You're on the record with that?
1046
00:54:37,149 --> 00:54:38,025
Obviously.
1047
00:54:38,026 --> 00:54:41,277
All right, man. Well, then, we're gonna
get the live feed up right now,
1048
00:54:41,278 --> 00:54:43,947
and then we're gonna get to you
right after this next advertising break.
1049
00:54:43,948 --> 00:54:45,783
Perfect, great. Yes, can't wait.
1050
00:54:50,120 --> 00:54:52,121
All right, one more spot
and then you're gonna be up.
1051
00:54:52,122 --> 00:54:55,208
I really do think this is the right time
for you to communicate.
1052
00:54:55,209 --> 00:54:57,293
- Great, yes. Agreed.
- Great. We're gonna do it.
1053
00:54:57,294 --> 00:54:59,797
Address it all head on.
It's gonna be good.
1054
00:55:01,882 --> 00:55:04,050
- No.
- What? Gabe, we're on in 10 seconds.
1055
00:55:04,051 --> 00:55:05,343
I can't do this. I'm sorry.
1056
00:55:05,344 --> 00:55:06,262
Gabe, seriously.
1057
00:55:06,263 --> 00:55:08,012
- Bye, I'm terribly sorry.
- Seriously, c'mon.
1058
00:55:08,013 --> 00:55:10,653
- Good to see you. The pleasure's here.
- We're going on right now.
1059
00:55:16,605 --> 00:55:17,605
Babe,
1060
00:55:18,607 --> 00:55:19,775
what's the damage?
1061
00:55:52,099 --> 00:55:53,391
Let me guess, you need cash.
1062
00:55:53,392 --> 00:55:55,435
Didn't call Ken first, did you?
1063
00:55:55,436 --> 00:55:57,104
He had Phillips reach out.
1064
00:55:57,605 --> 00:55:58,981
How much did he offer?
1065
00:56:00,482 --> 00:56:01,941
I haven't called him back yet.
1066
00:56:01,942 --> 00:56:03,401
Well, how much do you need?
1067
00:56:03,402 --> 00:56:05,820
You know what? Don't answer that.
The number doesn't matter.
1068
00:56:05,821 --> 00:56:07,405
Whatever it is, I'd love to buy in.
1069
00:56:07,406 --> 00:56:09,490
Tell Ken to fill in the rest.
1070
00:56:09,491 --> 00:56:10,701
Prick.
1071
00:56:16,749 --> 00:56:17,790
- Hey, Ken.
- Hey.
1072
00:56:17,791 --> 00:56:20,919
Hi, um... So, I might need...
1073
00:56:21,837 --> 00:56:22,837
Uh...
1074
00:56:23,672 --> 00:56:24,672
A new investor.
1075
00:56:24,673 --> 00:56:25,965
Consider it done.
1076
00:56:25,966 --> 00:56:27,967
Just keep moving forward.
1077
00:56:27,968 --> 00:56:30,595
Don't think about
what Grandpa Melvin used to say.
1078
00:56:30,596 --> 00:56:31,930
Prick.
1079
00:56:33,807 --> 00:56:35,767
- Thank you.
- Both Citadel
1080
00:56:35,768 --> 00:56:39,479
- and Point72 have infused
- Poor guy.
1081
00:56:39,480 --> 00:56:42,982
$3 billion into Melvin Capital
1082
00:56:42,983 --> 00:56:45,860
- to try to shore up...
- Another goddamn bailout.
1083
00:56:45,861 --> 00:56:47,570
Can you believe this crap?
1084
00:56:47,571 --> 00:56:48,780
Nobody bailed me out
1085
00:56:48,781 --> 00:56:51,783
when Richard left me alone
with two toddlers, a mortgage,
1086
00:56:51,784 --> 00:56:53,076
a shit car that never works.
1087
00:56:53,077 --> 00:56:54,827
You can say "shit" but we can't?
1088
00:56:54,828 --> 00:56:56,871
It's just so damn unfair and you know it.
1089
00:56:56,872 --> 00:57:00,875
All we've done for the last year
is work our asses off helping people,
1090
00:57:00,876 --> 00:57:03,586
and all we've gotten is one $600 check.
1091
00:57:03,587 --> 00:57:06,631
This idiot effs up just about as bad
as anyone could eff,
1092
00:57:06,632 --> 00:57:09,676
and his friends come running in
with $3 billion.
1093
00:57:09,677 --> 00:57:11,928
That's why I keep telling you:
you're never gonna win.
1094
00:57:11,929 --> 00:57:14,514
Just take the money and do something nice.
Pay off your mortgage.
1095
00:57:14,515 --> 00:57:16,058
Get that one braces.
1096
00:57:16,642 --> 00:57:18,143
Look who's still holding.
1097
00:57:19,603 --> 00:57:21,604
If he's in, I'm in.
1098
00:57:21,605 --> 00:57:23,564
Yeah, he's still gonna need braces.
1099
00:57:23,565 --> 00:57:24,649
Your teeth are perfect.
1100
00:57:24,650 --> 00:57:27,902
So what? The stock's up $150.
How much higher is it gonna go?
1101
00:57:27,903 --> 00:57:30,196
We control the price now. Not Wall Street.
1102
00:57:30,197 --> 00:57:31,698
And no one on there is selling.
1103
00:57:31,699 --> 00:57:32,740
Shoes.
1104
00:57:32,741 --> 00:57:34,951
- Ugh. You're all so delusional.
- Maybe.
1105
00:57:34,952 --> 00:57:37,370
But look at what we managed to do
with these hedge funds.
1106
00:57:37,371 --> 00:57:38,996
If we keep driving up the price,
1107
00:57:38,997 --> 00:57:42,166
maybe we'll scare more of these guys
into closing out their shorts,
1108
00:57:42,167 --> 00:57:44,252
and then all of that bailout money...
1109
00:57:44,253 --> 00:57:45,670
- Wait...
- becomes ours.
1110
00:57:45,671 --> 00:57:46,671
Your screen name...
1111
00:57:47,381 --> 00:57:48,924
is Stonkmom?
1112
00:57:53,345 --> 00:57:54,345
- Hey!
- Help your mother.
1113
00:57:54,346 --> 00:57:56,848
- Why me and not Keith?
- Just shut up and do it, okay?
1114
00:57:56,849 --> 00:57:59,058
- Kev, take the potatoes.
- 'Cause you're rich now?
1115
00:57:59,059 --> 00:58:01,144
Mr. 23 million on paper but I won't sell.
1116
00:58:01,145 --> 00:58:03,397
- Kevin.
- Loser says what?
1117
00:58:04,398 --> 00:58:06,859
- What?
- Kevin, let Keith tell them.
1118
00:58:10,070 --> 00:58:11,070
Tell us what?
1119
00:58:12,573 --> 00:58:15,283
Oh, uh...
I was waiting to tell you in person.
1120
00:58:15,284 --> 00:58:18,411
But the, uh, stock we bet on,
GameStop, is up.
1121
00:58:18,412 --> 00:58:19,580
Ah, good.
1122
00:58:20,706 --> 00:58:23,167
- How much up?
- He's up 23 million, Pop.
1123
00:58:23,751 --> 00:58:24,751
You're an asshole.
1124
00:58:24,752 --> 00:58:27,295
- Don't kid us.
- Uh, it's real.
1125
00:58:27,296 --> 00:58:29,965
Yeah, it's real.
And he's refusing to sell.
1126
00:58:31,842 --> 00:58:32,885
What is going on?
1127
00:58:33,927 --> 00:58:35,261
- You're pulling our leg.
- No.
1128
00:58:35,262 --> 00:58:37,180
Your son's a huge Internet celebrity now.
1129
00:58:37,181 --> 00:58:40,016
Millions of people including "Stonkmom"
thinks he's some like,
1130
00:58:40,017 --> 00:58:42,185
- I don't know, investment genius.
- No, he is a genius.
1131
00:58:42,186 --> 00:58:43,394
No, he's not.
1132
00:58:43,395 --> 00:58:45,147
You're up 23 million?
1133
00:58:46,148 --> 00:58:47,566
And you're not selling.
1134
00:58:49,193 --> 00:58:50,526
Jesus, Mary and Joseph.
1135
00:58:50,527 --> 00:58:52,028
What the fuck is wrong with you?
1136
00:58:52,029 --> 00:58:54,363
Do you even know
how much $23 million is?
1137
00:58:54,364 --> 00:58:56,657
And you're just gonna let it ride?
What's the matter with you?
1138
00:58:56,658 --> 00:58:58,868
- I know what I'm doing, Dad.
- But why aren't you selling?
1139
00:58:58,869 --> 00:59:00,787
What, wait! Is this illegal?
Are you in trouble?
1140
00:59:00,788 --> 00:59:01,954
No. No, he's not in trouble.
1141
00:59:01,955 --> 00:59:03,039
- It's totally legal.
- Yeah.
1142
00:59:03,040 --> 00:59:04,832
He's posting his balance sheet
on the Internet.
1143
00:59:04,833 --> 00:59:06,000
- What?
- Hedge fund managers,
1144
00:59:06,001 --> 00:59:08,461
they go on CNBC all the time
to pump up the stock.
1145
00:59:08,462 --> 00:59:10,922
All I do is post my balance sheet
on Wall Street Bets
1146
00:59:10,923 --> 00:59:14,175
- after market close.
- You post your balance sheet?
1147
00:59:14,176 --> 00:59:15,343
Yeah, the same idiot
1148
00:59:15,344 --> 00:59:18,137
who left a fresh pair of Nikes out on
the bleachers for just anyone to take.
1149
00:59:18,138 --> 00:59:19,305
So you admit they were stolen!
1150
00:59:19,306 --> 00:59:20,932
- We gotta talk about this.
- You're a fuckin' moron.
1151
00:59:20,933 --> 00:59:22,391
- Least I won.
- What's the point of winning
1152
00:59:22,392 --> 00:59:23,726
if you let some dipshit steal the prize?
1153
00:59:23,727 --> 00:59:25,269
You would've broke a four
if you had the Zooms.
1154
00:59:25,270 --> 00:59:26,771
A four minute mile
isn't everything, Kevin.
1155
00:59:26,772 --> 00:59:28,648
Maybe we should get in touch
with Briggsy.
1156
00:59:28,649 --> 00:59:30,650
- You know, he works in finance.
- Yes.
1157
00:59:30,651 --> 00:59:32,860
You think Briggsy knows
more about this than Keith does?
1158
00:59:32,861 --> 00:59:34,904
Well, can you talk about why
you're putting your stocks
1159
00:59:34,905 --> 00:59:37,156
- in the Wall Street Journal?
- Wall Street Bets.
1160
00:59:37,157 --> 00:59:38,741
What if someone tries to rob you?
Kidnap the baby?
1161
00:59:38,742 --> 00:59:39,992
No one's gonna kidnap the baby.
1162
00:59:39,993 --> 00:59:41,869
- Nobody wants that baby, Mom.
- I'm just saying,
1163
00:59:41,870 --> 00:59:43,162
that if we're gonna talk to somebody,
1164
00:59:43,163 --> 00:59:44,872
- you need to talk to Briggsy.
- Yes, honey.
1165
00:59:44,873 --> 00:59:46,458
- This is the point...
- Enough!
1166
00:59:47,543 --> 00:59:49,126
You guys, Keith has literally
1167
00:59:49,127 --> 00:59:51,420
poured his heart and his soul
into this for the past year.
1168
00:59:51,421 --> 00:59:52,798
He knows what he's doing.
1169
00:59:58,554 --> 01:00:01,056
I know it's been a tough time, Elaine.
1170
01:00:08,981 --> 01:00:10,065
You should still sell.
1171
01:00:12,484 --> 01:00:13,652
Think you should sell.
1172
01:00:17,489 --> 01:00:19,782
And just fuck the principle
of the whole thing?
1173
01:00:19,783 --> 01:00:21,742
I don't like it any more than you do.
1174
01:00:37,092 --> 01:00:38,551
You really don't think
that he's fucking selling?
1175
01:00:38,552 --> 01:00:39,552
No!
1176
01:00:39,970 --> 01:00:40,970
Ladies.
1177
01:00:42,347 --> 01:00:43,347
Masks.
1178
01:00:46,727 --> 01:00:50,104
Kids are with their father for a few days.
So, I'm going to Florida.
1179
01:00:50,105 --> 01:00:52,857
You finally fucking sold.
Hallefuckin-lujah.
1180
01:00:52,858 --> 01:00:54,984
No, I'm putting it on my Visa.
1181
01:00:54,985 --> 01:00:56,068
You shitting me?
1182
01:00:56,069 --> 01:00:58,237
You're worth hundreds of thousands
of dollars in stock,
1183
01:00:58,238 --> 01:00:59,864
and you're amassing credit card debt.
1184
01:00:59,865 --> 01:01:01,866
You really are out of your mind.
1185
01:01:01,867 --> 01:01:05,870
No, babe, I'm all in. Diamond hand.
1186
01:01:05,871 --> 01:01:07,955
Did you know that Gabe Plotkin
gave an interview?
1187
01:01:07,956 --> 01:01:10,499
He's been getting death threats,
anti-Semitic messages
1188
01:01:10,500 --> 01:01:12,835
- from these WSB guys.
- It was ten comments.
1189
01:01:12,836 --> 01:01:15,755
There's always bad apples.
And the moderators deleted it right away.
1190
01:01:15,756 --> 01:01:17,840
You're just gonna ride this thing
till zero?
1191
01:01:17,841 --> 01:01:20,051
No. I'm buying call options.
1192
01:01:20,052 --> 01:01:23,597
- That could go to 600 by tomorrow.
- Your kid is never getting braces.
1193
01:01:31,605 --> 01:01:34,148
There's 8 million people in there
and they're all holding.
1194
01:01:34,149 --> 01:01:35,274
It's only going to go up.
1195
01:01:35,275 --> 01:01:36,817
It's a joke, Marcos.
1196
01:01:36,818 --> 01:01:38,862
But you're treating it
like it's real life.
1197
01:01:39,738 --> 01:01:40,738
Pops.
1198
01:01:42,783 --> 01:01:43,783
Look.
1199
01:01:44,660 --> 01:01:47,078
- This is real. Hold it. Look.
- Hey.
1200
01:01:47,079 --> 01:01:48,079
Aw, man.
1201
01:01:49,706 --> 01:01:51,415
8 million people is real.
1202
01:01:51,416 --> 01:01:53,085
H-O-D-L.
1203
01:01:53,794 --> 01:01:57,254
8 million don't even know
how to spell "hold."
1204
01:01:57,255 --> 01:01:58,173
It's a joke.
1205
01:01:58,174 --> 01:02:01,014
- A corny joke.
- It's not funny.
1206
01:02:04,721 --> 01:02:05,721
Mom,
1207
01:02:06,890 --> 01:02:07,932
look.
1208
01:02:07,933 --> 01:02:10,559
I got $175,000 in stock right now.
1209
01:02:10,560 --> 01:02:11,727
What?
1210
01:02:11,728 --> 01:02:12,688
Like serious money,
1211
01:02:12,689 --> 01:02:15,773
like I could get you a house
and get you up out of here, kind of money.
1212
01:02:15,774 --> 01:02:16,941
Baby.
1213
01:02:16,942 --> 01:02:19,360
Where did you get the money to buy this?
1214
01:02:19,361 --> 01:02:20,444
Uh-huh.
1215
01:02:20,445 --> 01:02:23,322
I bought call options, for cheap.
1216
01:02:23,323 --> 01:02:26,409
- And they hit.
- So now you're gonna sell?
1217
01:02:26,410 --> 01:02:27,828
Nah. No, I buy more.
1218
01:02:28,662 --> 01:02:30,496
At this price!?
1219
01:02:30,497 --> 01:02:32,540
When they hit,
I'm gonna buy you a mansion.
1220
01:02:32,541 --> 01:02:33,624
It's gonna be crazy.
1221
01:02:33,625 --> 01:02:36,420
My son, I don't need a mansion.
1222
01:02:38,338 --> 01:02:39,715
Papi.
1223
01:02:40,090 --> 01:02:41,258
Be careful.
1224
01:02:41,758 --> 01:02:44,135
Don't get addicted to this, my son.
1225
01:02:44,136 --> 01:02:45,846
This can be like a drug.
1226
01:02:51,893 --> 01:02:56,647
Some breaking news right now
on what has turned into the soap opera
1227
01:02:56,648 --> 01:03:00,985
and, uh, saga of the markets right now.
And that is the story of GameStop.
1228
01:03:00,986 --> 01:03:03,779
A month ago today, it was trading
at about 20 bucks per share.
1229
01:03:03,780 --> 01:03:05,948
Two days ago, it was under $80.
1230
01:03:05,949 --> 01:03:09,368
Today, nearly $350 a share.
1231
01:03:09,369 --> 01:03:13,414
The GameStop stock frenzy even now
has the attention of the White House.
1232
01:03:13,415 --> 01:03:15,833
Our economic team
including Secretary Yellen and others
1233
01:03:15,834 --> 01:03:17,501
are monitoring the situation.
1234
01:03:17,502 --> 01:03:19,920
You're witnessing
the French Revolution of finance.
1235
01:03:19,921 --> 01:03:21,338
There is a rebellion aspect to it.
1236
01:03:21,339 --> 01:03:23,424
There is
an anti-establishment aspect to it.
1237
01:03:23,425 --> 01:03:25,634
I don't know if Wall Street's ever seen it
like this before.
1238
01:03:25,635 --> 01:03:27,219
- No. It's generational.
- We never have.
1239
01:03:27,220 --> 01:03:28,929
It's like generational injustices.
1240
01:03:28,930 --> 01:03:32,391
This is like
little poor guys vs. Rich guys.
1241
01:03:32,392 --> 01:03:35,269
And poor guys are winning right now.
1242
01:03:35,270 --> 01:03:37,688
Fucking hold! If you're new here
and you're trying to make a profit,
1243
01:03:37,689 --> 01:03:39,690
- fuck off!
- Stop what you're doing, and listen up.
1244
01:03:39,691 --> 01:03:42,068
I own GameStop on Robinhood
and I am not selling.
1245
01:03:42,069 --> 01:03:45,780
Hold. All you need to do is hold.
Keep fucking holding.
1246
01:03:45,781 --> 01:03:49,492
Soon the Tendieman comes
to send our rocket to the sun.
1247
01:03:49,493 --> 01:03:52,745
See this right here is the human being
who's largely responsible
1248
01:03:52,746 --> 01:03:54,622
for all this GameStop stuff.
1249
01:03:54,623 --> 01:04:01,003
Just a pure specimen.
A God-like undefeatable creature.
1250
01:04:01,004 --> 01:04:04,632
This is what excellence looks like.
1251
01:04:04,633 --> 01:04:05,758
I just like the stock.
1252
01:04:05,759 --> 01:04:09,387
Yesterday he posted this,
that he's in profit, wait for it...
1253
01:04:10,388 --> 01:04:12,933
47 million.
1254
01:04:14,267 --> 01:04:16,644
What the fuck is happening?
1255
01:04:16,645 --> 01:04:20,189
What the fuck?
1256
01:04:20,190 --> 01:04:21,732
Hey, did you try a different browser?
1257
01:04:21,733 --> 01:04:24,027
- I plugged the browser.
- Shit, we're fucked.
1258
01:04:25,195 --> 01:04:26,362
Bro, what the fuck?
1259
01:04:26,363 --> 01:04:28,563
- What the fuck, dude?
- I told you this shit is rigged.
1260
01:04:29,908 --> 01:04:31,034
What the fuck is going on?
1261
01:04:33,578 --> 01:04:34,788
I can't get it to load.
1262
01:04:41,253 --> 01:04:42,253
Fuck!
1263
01:04:46,466 --> 01:04:47,466
What?
1264
01:04:50,470 --> 01:04:52,264
They shut down Wall Street Bets.
1265
01:04:52,764 --> 01:04:55,766
- What?
- "Hateful and discriminatory content."
1266
01:04:55,767 --> 01:04:57,477
That stuff has always been on there.
1267
01:05:02,983 --> 01:05:04,316
That's weird.
1268
01:05:04,317 --> 01:05:05,318
No?
1269
01:05:06,361 --> 01:05:09,697
I mean, it's like they're trying
to stop people from talking to each other.
1270
01:05:17,038 --> 01:05:18,205
Babe, are you gonna get that?
1271
01:05:18,206 --> 01:05:19,124
Yes.
1272
01:05:19,124 --> 01:05:20,124
Oh.
1273
01:05:22,169 --> 01:05:23,169
Hello?
1274
01:05:24,671 --> 01:05:27,632
Ah, yes, I am...
1275
01:05:28,133 --> 01:05:31,386
I am the Roaring Kitty
and Deep F-ing Value.
1276
01:05:33,180 --> 01:05:36,600
Ah, no, but nobody ever asked me.
1277
01:05:38,685 --> 01:05:40,019
Oh, okay.
1278
01:05:40,020 --> 01:05:42,813
Sir, I just want to say
how grateful I am for this job
1279
01:05:42,814 --> 01:05:44,732
and how much it means
to me and my family.
1280
01:05:44,733 --> 01:05:47,152
I would never let a hobby jeopardize...
1281
01:05:48,862 --> 01:05:50,822
Okay. I understand.
1282
01:05:56,786 --> 01:05:59,246
- Yeah?
- It's MassMutual. They're...
1283
01:05:59,247 --> 01:06:02,666
getting calls from reporters "concerned"
about my "outside activities."
1284
01:06:02,667 --> 01:06:04,543
Was all this against the rules?
1285
01:06:04,544 --> 01:06:07,463
I wasn't...? Maybe now it is...
1286
01:06:07,464 --> 01:06:08,464
Okay.
1287
01:06:11,426 --> 01:06:12,969
Well, what was that call?
1288
01:06:14,596 --> 01:06:16,055
- Keith?
- It's okay.
1289
01:06:16,056 --> 01:06:17,264
What, are you going to lose your job?
1290
01:06:17,265 --> 01:06:18,265
- What?
- It's fine.
1291
01:06:19,309 --> 01:06:21,143
- They gave me a choice.
- Between what?
1292
01:06:21,144 --> 01:06:22,937
Between your job and Roaring Kitty?
1293
01:06:22,938 --> 01:06:24,855
Uh...
1294
01:06:24,856 --> 01:06:27,733
- Resign or I'm fired.
- That's what he just said?
1295
01:06:29,027 --> 01:06:30,027
I got it.
1296
01:06:32,239 --> 01:06:33,364
Fuck it, Wall Street Bets is down,
1297
01:06:33,365 --> 01:06:34,282
I can't see Roaring Kitty's balance sheet.
1298
01:06:34,282 --> 01:06:35,200
Oh fuck.
1299
01:06:35,201 --> 01:06:36,451
I don't know what to do.
1300
01:06:36,952 --> 01:06:38,035
This could be the sell-off.
1301
01:06:38,036 --> 01:06:40,079
I really don't wanna do that.
1302
01:06:40,080 --> 01:06:43,250
Well, me neither.
But you can't let it go to zero.
1303
01:06:44,125 --> 01:06:46,460
It's 150 grand. You need that money.
1304
01:06:46,461 --> 01:06:48,922
And nobody is gonna hold
if they can't see what he's doing.
1305
01:06:51,633 --> 01:06:53,093
Close your eyes and count to three.
1306
01:06:53,802 --> 01:06:54,802
One.
1307
01:06:56,638 --> 01:06:57,638
- Two.
- Two.
1308
01:06:58,765 --> 01:06:59,766
- Three.
- Three.
1309
01:07:03,436 --> 01:07:05,479
Your phone's ringing.
1310
01:07:05,480 --> 01:07:07,690
This is the sound of the world.
1311
01:07:07,691 --> 01:07:09,400
Your phone is ringing!
1312
01:07:09,401 --> 01:07:13,530
Oh, Robinhood. Yeah. It's an app.
1313
01:07:14,114 --> 01:07:15,406
It's on the phone.
1314
01:07:15,407 --> 01:07:17,784
- Yeah, no, your phone is ringing.
- Oh.
1315
01:07:18,827 --> 01:07:21,120
Yes...
1316
01:07:21,121 --> 01:07:23,998
♪ I'm a boss in a fucking dress... ♪
1317
01:07:23,999 --> 01:07:25,917
Slow down, Norm, what did you say?
1318
01:07:26,418 --> 01:07:30,838
The NSCC just sent us a file,
they want a deposit of 3 billion
1319
01:07:30,839 --> 01:07:32,549
to clear all the trades coming in.
1320
01:07:33,258 --> 01:07:34,550
Sorry.
1321
01:07:34,551 --> 01:07:35,634
Wait, who?
1322
01:07:35,635 --> 01:07:41,181
They're a subsidiary of the DTCC.
And they're requesting 3 billion.
1323
01:07:41,182 --> 01:07:46,146
Ah... Okay. Sorry, it's a little loud in
here. I thought you just said 3 billion.
1324
01:07:46,646 --> 01:07:47,689
I did!
1325
01:07:48,982 --> 01:07:51,692
- But we don't have 3 billion, Norm.
- That's correct.
1326
01:07:51,693 --> 01:07:54,738
We've only ever raised 2 billion
in the history of the company.
1327
01:07:55,613 --> 01:07:57,573
Holy fuck! What if we don't pay?
1328
01:07:57,574 --> 01:07:59,034
They shut us down.
1329
01:07:59,993 --> 01:08:02,995
The IPO, like, everything... poof.
1330
01:08:02,996 --> 01:08:05,874
Gretchen, Dan and I are going to
jump on a call with Citadel at 9.
1331
01:08:09,711 --> 01:08:12,755
Maybe this would be a good time
for me to chat with Ken Griffin.
1332
01:08:12,756 --> 01:08:15,467
Sure. We'll mention that.
1333
01:08:17,052 --> 01:08:18,344
I can't sleep.
1334
01:08:18,345 --> 01:08:19,387
Me neither.
1335
01:08:19,888 --> 01:08:21,181
I just feel sick!
1336
01:08:22,182 --> 01:08:23,767
We'll buy it back first thing.
1337
01:08:25,602 --> 01:08:27,020
Please shut up.
1338
01:08:41,868 --> 01:08:43,328
What the fuck.
1339
01:08:46,414 --> 01:08:47,540
Oh! What the fuck!
1340
01:08:48,583 --> 01:08:50,668
- What the fuck!
- Okay, let me try.
1341
01:08:51,753 --> 01:08:53,129
Is it frozen?
1342
01:08:58,385 --> 01:09:00,178
They cut off the buy option.
1343
01:09:00,887 --> 01:09:02,429
What?! That's fucking criminal.
1344
01:09:02,430 --> 01:09:03,722
I can't hear you, Baiju!
1345
01:09:03,723 --> 01:09:05,099
What the fuck did you do?
1346
01:09:05,100 --> 01:09:06,809
- Calm down.
- Me calm down?
1347
01:09:06,810 --> 01:09:08,394
You shut down trading on GameStop?
1348
01:09:08,395 --> 01:09:09,561
Not all trading.
1349
01:09:09,562 --> 01:09:10,729
Norm worked it out.
1350
01:09:10,730 --> 01:09:14,274
The DTCC agreed to lower the deposit
to 700 million
1351
01:09:14,275 --> 01:09:16,443
if we shut off buying,
and that's what I did.
1352
01:09:16,444 --> 01:09:18,487
The Depository Trade Commission?
1353
01:09:18,488 --> 01:09:20,739
They're like one degree away
from Ken Griffin.
1354
01:09:20,740 --> 01:09:22,950
One more time, Baiju.
1355
01:09:22,951 --> 01:09:23,952
Butt boys!
1356
01:09:25,954 --> 01:09:28,080
- What?
- It's not going to be okay.
1357
01:09:28,081 --> 01:09:29,331
You need to fix this...
1358
01:09:29,332 --> 01:09:30,959
Shh. I know, it's okay.
1359
01:09:31,835 --> 01:09:33,253
I did fix it, Baiju.
1360
01:09:35,463 --> 01:09:38,173
We've been watching shares
of GameStop all day long
1361
01:09:38,174 --> 01:09:41,844
after hitting a staggering high of $483.
1362
01:09:41,845 --> 01:09:44,805
The shares are now down to about 140.
1363
01:09:44,806 --> 01:09:47,766
Now, the best we can tell
is the Robinhood app
1364
01:09:47,767 --> 01:09:52,396
that seems to have triggered what really
has become a panic sell-off in this name.
1365
01:09:52,397 --> 01:09:57,025
And so if you're a retail investor
or a Reddit user and you've held,
1366
01:09:57,026 --> 01:09:59,779
well, you are feeling some serious pain
right now.
1367
01:10:00,989 --> 01:10:02,157
Oh God.
1368
01:10:03,616 --> 01:10:04,451
Fuck.
1369
01:10:04,452 --> 01:10:06,410
Now the criticism centered on Robinhood
1370
01:10:06,411 --> 01:10:10,372
for abandoning their followers here
in favor of helping those who had shorted
1371
01:10:10,373 --> 01:10:11,915
all these stocks in the first place.
1372
01:10:11,916 --> 01:10:14,376
I don't particularly like the move
on Robinhood today.
1373
01:10:14,377 --> 01:10:16,170
I'm talking to people this morning
that say,
1374
01:10:16,171 --> 01:10:18,046
"Okay, that is anti-capitalism.
1375
01:10:18,047 --> 01:10:19,548
- You can't do that."
- Fuck you, Robinhood!
1376
01:10:19,549 --> 01:10:24,261
There's been some controversy
about Citadel and some vague accusations
1377
01:10:24,262 --> 01:10:27,431
that somehow Citadel may have been
involved in Robinhood's decision, Wolf,
1378
01:10:27,432 --> 01:10:30,893
to stop or restrict trading
in GameStop and other shorts...
1379
01:10:30,894 --> 01:10:31,935
Who is it from?
1380
01:10:31,936 --> 01:10:34,731
The Tendieman...?
1381
01:10:36,608 --> 01:10:37,525
Come back inside.
1382
01:10:37,526 --> 01:10:39,068
Diamond fucking hands!
1383
01:10:41,237 --> 01:10:45,407
We all know how I feel about him.
I think he's a rat, a liar.
1384
01:10:45,408 --> 01:10:50,246
Okay, Vlad, you know everybody here
who's watching us hates your guts, right?
1385
01:10:51,247 --> 01:10:54,750
Thank you, Dave, that's, uh...
that's what I hear.
1386
01:10:54,751 --> 01:10:58,670
But I'm a really big fan of your show
and hopefully I can answer
1387
01:10:58,671 --> 01:11:00,797
- some of your questions.
- Vlad, can you hear us?
1388
01:11:00,798 --> 01:11:03,800
- Vlad the stock impaler.
- Yes, I'm here... Hi.
1389
01:11:03,801 --> 01:11:05,928
Spill the beans, man,
what happened last week?
1390
01:11:05,929 --> 01:11:08,722
Why couldn't people buy GameStop shares?
1391
01:11:08,723 --> 01:11:10,641
The people demand an answer.
1392
01:11:10,642 --> 01:11:14,186
To give you some background,
I'm chief executive of Robinhood...
1393
01:11:14,187 --> 01:11:15,521
- Robbing executive.
- Yeah, we know that.
1394
01:11:15,522 --> 01:11:17,189
And I just want to say,
1395
01:11:17,190 --> 01:11:19,858
- we had no liquidity problem.
- Well, did something maybe shady
1396
01:11:19,859 --> 01:11:21,693
go down here?
Seems weird that you'd get a sudden
1397
01:11:21,694 --> 01:11:23,820
- 10 billion dollar demand... You know.
- Three, 3 billion...
1398
01:11:23,821 --> 01:11:26,031
- Okay, but 3 billion just suddenly,
- Yeah.
1399
01:11:26,032 --> 01:11:28,116
- Out of nowhere and...
- Well, I wouldn't impute
1400
01:11:28,117 --> 01:11:31,245
any shadiness to any of this, um...
1401
01:11:31,246 --> 01:11:33,455
I don't have the full context, uh,
1402
01:11:33,456 --> 01:11:35,958
as to what was going on
with the NSCC to,
1403
01:11:35,959 --> 01:11:39,002
to, uh, make these calculations.
1404
01:11:39,003 --> 01:11:41,463
To what degree
are you beholden to Citadel?
1405
01:11:41,464 --> 01:11:44,841
I mean, like, basically,
if Citadel is unhappy, then what happens?
1406
01:11:44,842 --> 01:11:47,803
- It was a hard temperance.
- Is anyone holding you hostage right now?
1407
01:11:47,804 --> 01:11:48,721
Uh, no.
1408
01:11:48,722 --> 01:11:52,599
There's just no rational explanation
on why they would do what they did
1409
01:11:52,600 --> 01:11:55,310
without outside pressure, interference.
1410
01:11:55,311 --> 01:11:57,980
And they basically cratered the stock
on purpose.
1411
01:11:57,981 --> 01:12:01,024
So, I just don't believe
anything that guy says.
1412
01:12:01,025 --> 01:12:03,402
I wanted to take a cold shower
after seeing him say that.
1413
01:12:03,403 --> 01:12:06,071
Robinhood is facing lawsuits,
we know that.
1414
01:12:06,072 --> 01:12:08,448
After halting trade, they are accused
1415
01:12:08,449 --> 01:12:10,617
- of rigging the market.
- When the big guys,
1416
01:12:10,618 --> 01:12:13,870
including one of your main investors
in your company started to lose,
1417
01:12:13,871 --> 01:12:16,540
you shut down the game
to starve the little guy.
1418
01:12:16,541 --> 01:12:19,543
They're stealing from the poor
and giving back to the rich.
1419
01:12:19,544 --> 01:12:22,921
They're robbing from the 'hood! Why?
1420
01:12:22,922 --> 01:12:25,966
- I want to be 100% clear,
- All of you guys deserve to burn in hell.
1421
01:12:25,967 --> 01:12:27,342
- This decision to...
- And go to jail.
1422
01:12:27,343 --> 01:12:28,468
Restrict trade was not made
on the direction
1423
01:12:28,469 --> 01:12:29,720
I'm just trying to get my mom
out the 'hood.
1424
01:12:29,721 --> 01:12:32,514
- Of Citadel or any market maker.
- What the fuck? Fuck you!
1425
01:12:32,515 --> 01:12:33,932
And your Mama Dukes,
you motherfucking fraud.
1426
01:12:33,933 --> 01:12:34,933
Fuck this guy.
1427
01:12:35,727 --> 01:12:38,228
This guy is just
an obfuscating piece of shit.
1428
01:12:38,229 --> 01:12:39,521
Fucker.
1429
01:12:39,522 --> 01:12:41,857
There's only one man
I wanna hear from right now.
1430
01:12:41,858 --> 01:12:44,484
And Wall Street Bets is down,
so it's crickets.
1431
01:12:44,485 --> 01:12:46,070
It's crickets out here.
1432
01:12:46,946 --> 01:12:48,072
Say it with me.
1433
01:12:48,573 --> 01:12:50,575
- Where my pussy at!
- Where my pussy at!
1434
01:12:51,284 --> 01:12:52,827
- Mr. Gill!
- Mr. Gill!
1435
01:12:53,620 --> 01:12:57,456
- Roaring Kitty, I fucking love you!
- Keith Gill!
1436
01:12:57,457 --> 01:12:59,207
- Keith Gill, please!
- Okay.
1437
01:12:59,208 --> 01:13:02,336
- Please.
- Oh, sorry, this is, like, my house, uh...
1438
01:13:02,337 --> 01:13:03,921
- You want my autograph?
- Yeah.
1439
01:13:04,839 --> 01:13:05,839
You've been served.
1440
01:13:08,801 --> 01:13:11,637
Hey, to the moon, baby! To the moon.
1441
01:13:11,638 --> 01:13:12,846
Holy shit.
1442
01:13:17,769 --> 01:13:21,605
Sorry to interrupt. We need to talk
about the GameStop situation.
1443
01:13:21,606 --> 01:13:22,981
I thought Mecane was handling it.
1444
01:13:22,982 --> 01:13:25,817
So did we. But the committee's
specifically requested you, sir.
1445
01:13:25,818 --> 01:13:28,029
If they want specifics,
they can have Mecane.
1446
01:13:28,738 --> 01:13:30,657
It's not a choice, unfortunately.
1447
01:13:34,869 --> 01:13:36,120
Shitballs.
1448
01:13:38,915 --> 01:13:39,915
Keith?
1449
01:13:41,417 --> 01:13:44,503
- A congressional subpoena.
- I never did anything illegal.
1450
01:13:44,504 --> 01:13:45,963
And I always had disclaimers...
1451
01:13:46,631 --> 01:13:48,841
Why would you have disclaimers
if you weren't worried?
1452
01:13:49,384 --> 01:13:51,803
They're standard practice, Caroline,
everyone has them.
1453
01:13:56,808 --> 01:13:57,808
Babe...
1454
01:14:01,187 --> 01:14:03,731
- the answer is not in your computer.
- Whoa!
1455
01:14:04,357 --> 01:14:08,319
There's a dozen reporters on our lawn!
You have to testify before Congress.
1456
01:14:08,986 --> 01:14:11,738
- The game has changed.
- I know. I hear you.
1457
01:14:11,739 --> 01:14:13,157
I don't think you do.
1458
01:14:18,705 --> 01:14:20,123
Oh, my God. We're...
1459
01:14:21,666 --> 01:14:22,999
We're gonna go to my mother's.
1460
01:14:23,000 --> 01:14:25,168
No, she has terrible Wi-Fi.
1461
01:14:25,169 --> 01:14:27,212
I'm not talking about you.
1462
01:14:27,213 --> 01:14:29,090
I'm talking about me and her.
1463
01:14:29,841 --> 01:14:31,384
You need to figure this out.
1464
01:14:44,564 --> 01:14:46,440
- Where are you going?
- To the track.
1465
01:14:46,441 --> 01:14:48,775
- You were just on the track.
- I'm going again.
1466
01:14:59,287 --> 01:15:01,705
Hi. Can I interest you in
some champagne or a mimosa?
1467
01:15:01,706 --> 01:15:03,999
- Is it free?
- It is when you sit up here.
1468
01:15:04,000 --> 01:15:06,001
Well, there is a last time for everything.
1469
01:15:06,002 --> 01:15:07,502
Oh, you'll be back.
1470
01:15:07,503 --> 01:15:11,758
I had half a million in stocks last week,
but Wall Street cheated.
1471
01:15:12,258 --> 01:15:13,426
Surprise, surprise.
1472
01:15:15,219 --> 01:15:16,471
I could have cashed out.
1473
01:15:17,597 --> 01:15:19,389
I could have paid my mortgage.
1474
01:15:19,390 --> 01:15:21,057
Could have gotten my kid braces.
1475
01:15:21,058 --> 01:15:21,976
Got a new car.
1476
01:15:21,977 --> 01:15:23,727
Honey, I'm gonna get you
something stronger.
1477
01:15:23,728 --> 01:15:25,229
- Thank you.
- You're welcome.
1478
01:15:31,360 --> 01:15:32,486
Meow!
1479
01:15:32,487 --> 01:15:33,612
Kitty!
1480
01:15:33,613 --> 01:15:36,323
You know you can't just eat other people's
food. They do reviews, right?
1481
01:15:36,324 --> 01:15:37,365
Very funny.
1482
01:15:37,366 --> 01:15:38,366
Here.
1483
01:15:38,868 --> 01:15:40,160
What's this?
1484
01:15:40,161 --> 01:15:41,620
Look, they were on sale, all right,
1485
01:15:41,621 --> 01:15:44,664
- before you get all emotional and shit.
- Holy shit, you fucking softy.
1486
01:15:44,665 --> 01:15:46,875
Who put you up to this? Caro? Ma?
1487
01:15:46,876 --> 01:15:48,668
No, Dad called me in tears,
1488
01:15:48,669 --> 01:15:50,504
said my big brother
needed some moral support.
1489
01:15:50,505 --> 01:15:52,964
Ah, fuck off. I can't.
1490
01:15:52,965 --> 01:15:55,050
C'mon, man.
Will you at least try 'em on? Please?
1491
01:15:55,051 --> 01:15:57,093
Try 'em. C'mon,
you're the richest man in Brockton,
1492
01:15:57,094 --> 01:15:59,679
- you dress like an asshole.
- I lost 15 million yesterday.
1493
01:15:59,680 --> 01:16:01,640
And another 15 the day before that.
1494
01:16:01,641 --> 01:16:04,018
You're still the richest man in Brockton,
like, by far.
1495
01:16:04,685 --> 01:16:08,522
Bro, you got rich dudes
pissing in their pants right now.
1496
01:16:08,523 --> 01:16:11,316
I mean, c'mon, man, how many people
from Brockton High can say that?
1497
01:16:11,317 --> 01:16:12,484
This has gone crazy,
1498
01:16:12,485 --> 01:16:15,320
I got reporters hounding me
outside my house.
1499
01:16:15,321 --> 01:16:17,448
Yeah, man, me too.
They're coming after you.
1500
01:16:19,033 --> 01:16:20,742
You didn't talk to them, did you?
1501
01:16:20,743 --> 01:16:24,079
What do I look like? I said no.
I said give me 50 grand maybe.
1502
01:16:24,080 --> 01:16:25,163
Tell me you're kidding.
1503
01:16:25,164 --> 01:16:27,833
Well, if you give me 20, then maybe
we wouldn't have to deal with this shit.
1504
01:16:27,834 --> 01:16:28,875
The fuck is wrong with you!?
1505
01:16:28,876 --> 01:16:32,295
Kevin, I've just been subpoenaed
by Congress, man.
1506
01:16:32,296 --> 01:16:33,964
I do not have time for your bullshit.
1507
01:16:33,965 --> 01:16:36,508
- Oh, come off it, man!
- Seriously, asshole.
1508
01:16:36,509 --> 01:16:38,469
- Chill! It was a joke!
- Fuck!
1509
01:16:46,394 --> 01:16:47,394
I know.
1510
01:16:48,062 --> 01:16:49,062
Sorry.
1511
01:16:56,028 --> 01:16:58,197
We never used to fight this much.
1512
01:17:01,117 --> 01:17:03,077
- Sara.
- I miss her.
1513
01:17:03,703 --> 01:17:04,703
Me too.
1514
01:17:05,162 --> 01:17:06,581
She kept your ego in check.
1515
01:17:07,248 --> 01:17:09,417
Whole fuckin' world kept my ego in check.
1516
01:17:10,501 --> 01:17:13,170
What the fuck are you gonna tell
Congress, Keith? Huh?
1517
01:17:14,255 --> 01:17:16,299
Beg them not to send me to prison?
1518
01:17:18,551 --> 01:17:19,551
Hey...
1519
01:17:20,136 --> 01:17:24,265
Hey, do you remember back at Stonehill
when they dared me to run that mile naked?
1520
01:17:24,765 --> 01:17:26,474
Yeah, there was a crazy storm that night.
1521
01:17:26,475 --> 01:17:28,184
- You dumb shit.
- Fuck you, man.
1522
01:17:28,185 --> 01:17:30,604
That was dope, man.
I'm a legend over there.
1523
01:17:30,605 --> 01:17:31,855
Everybody remembers that!
1524
01:17:31,856 --> 01:17:32,981
- Okay.
- They do, man.
1525
01:17:32,982 --> 01:17:35,025
You don't think people remember
your 4-minute 3-second mile?
1526
01:17:35,026 --> 01:17:36,985
Oh... what is this, a pep talk?
1527
01:17:36,986 --> 01:17:38,486
Motherfucker, stop hiding.
1528
01:17:38,487 --> 01:17:42,033
Seriously. Okay, stop being all meek
and shit and running away.
1529
01:17:42,867 --> 01:17:45,410
What, you want me to run through
lightning with my dick out?
1530
01:17:45,411 --> 01:17:46,411
Yeah.
1531
01:17:46,412 --> 01:17:48,581
Please, exactly that.
1532
01:17:49,290 --> 01:17:51,584
Run through lightning with your dick out.
Fuck it.
1533
01:17:59,800 --> 01:18:01,260
You didn't go to your mom's?
1534
01:18:03,179 --> 01:18:04,388
You took the car.
1535
01:18:06,140 --> 01:18:08,225
How was the run? Did it clear your head?
1536
01:18:09,018 --> 01:18:10,560
Kev found me, brought me these.
1537
01:18:10,561 --> 01:18:13,064
Hm. You guys talked?
1538
01:18:13,564 --> 01:18:16,317
Yup, he, uh, told me to run naked.
1539
01:18:16,817 --> 01:18:18,401
- You ran naked?
- No.
1540
01:18:18,402 --> 01:18:22,573
Uh, it's a metaphor. He's saying
I gotta take this thing head on.
1541
01:18:23,658 --> 01:18:24,658
Well...
1542
01:18:30,081 --> 01:18:31,666
I'd kinda like to see you run naked.
1543
01:18:35,294 --> 01:18:37,964
By the way, Wall Street Bets is back up.
1544
01:18:39,590 --> 01:18:40,967
The motherfucker held.
1545
01:18:41,717 --> 01:18:46,097
Holy shit! He lost 30 million,
and he still fucking held.
1546
01:18:49,475 --> 01:18:51,185
- Robinhood's back up.
- What?
1547
01:18:51,978 --> 01:18:54,397
- We gotta get back in.
- Where's the stock at right now?
1548
01:18:55,147 --> 01:18:56,148
109.
1549
01:18:56,649 --> 01:18:57,692
Are you sure?
1550
01:18:58,192 --> 01:19:00,945
That's like all of the money
that we made back into the stock.
1551
01:19:04,824 --> 01:19:07,326
Yeah. We can't let them
get away with this.
1552
01:19:09,412 --> 01:19:10,412
Fuck 'em.
1553
01:19:10,830 --> 01:19:12,039
If he's in, I'm in.
1554
01:19:12,915 --> 01:19:14,125
If he's in, I'm in.
1555
01:19:17,628 --> 01:19:18,629
Okay.
1556
01:19:20,297 --> 01:19:21,297
Fuck!
1557
01:19:27,304 --> 01:19:31,933
The frenzy continues with retail investors
bidding back up GameStop.
1558
01:19:31,934 --> 01:19:34,102
- Meme stock mania is back.
- up more than 80%
1559
01:19:34,103 --> 01:19:36,646
as those message board traders
simply sent it higher.
1560
01:19:36,647 --> 01:19:38,314
Stock volatility continuing,
1561
01:19:38,315 --> 01:19:41,192
it looks like this morning once again
GameStop are involved in
1562
01:19:41,193 --> 01:19:44,612
an ongoing battle between
retail investors and short sellers.
1563
01:19:44,613 --> 01:19:46,156
We're gonna have a lot more
on this story.
1564
01:19:46,157 --> 01:19:49,242
CEOs of Robinhood, Reddit,
Citadel and Melvin Capital.
1565
01:19:49,243 --> 01:19:52,662
Along with Keith Gill,
better known as Roaring Kitty
1566
01:19:52,663 --> 01:19:56,041
on social media, will be in the hot seat.
1567
01:20:00,504 --> 01:20:03,590
I'm here testifying today
far removed from my background.
1568
01:20:03,591 --> 01:20:06,676
I grew up in a middle-class family
in Portland, Maine.
1569
01:20:06,677 --> 01:20:08,344
My dad was a grocery store executive.
1570
01:20:08,345 --> 01:20:09,805
Maybe leave that part out.
1571
01:20:11,140 --> 01:20:12,223
The part about my dad?
1572
01:20:12,224 --> 01:20:13,349
The executive part.
1573
01:20:13,350 --> 01:20:14,935
Okay... okay.
1574
01:20:18,272 --> 01:20:22,734
I went to a public high school.
I studied hard and got into Northwestern.
1575
01:20:22,735 --> 01:20:24,819
- Just say "a good college."
- Upon...
1576
01:20:24,820 --> 01:20:26,404
I can't say I went to Northwestern?
1577
01:20:26,405 --> 01:20:28,282
- Too elite.
- Northwestern's too...
1578
01:20:28,949 --> 01:20:29,949
All right.
1579
01:20:33,788 --> 01:20:38,374
Upon graduation, I did not have a job.
Today, I'm married with four children.
1580
01:20:38,375 --> 01:20:40,628
Gabe, where do you plan on
doing your testimony?
1581
01:20:43,005 --> 01:20:45,758
- Here.
- In front of your wine collection?
1582
01:20:47,802 --> 01:20:50,970
I mean, this is... I don't have that big
of a wine collection honestly.
1583
01:20:50,971 --> 01:20:52,013
Yeah, it's huge.
1584
01:20:52,014 --> 01:20:53,932
Digital risks seem to be overblown.
1585
01:20:53,933 --> 01:20:56,434
Two, the negative sentiment is overdone.
1586
01:20:56,435 --> 01:21:00,231
- Three, the value...
- Maybe... here would be nice.
1587
01:21:03,526 --> 01:21:05,527
- Too many windows.
- Too many windows... Oh.
1588
01:21:05,528 --> 01:21:06,694
It's very bright.
1589
01:21:06,695 --> 01:21:09,864
- Yeah, ocean front's not a great idea.
- It's blue.
1590
01:21:09,865 --> 01:21:11,616
Yeah. Okay, I hadn't thought of that.
1591
01:21:11,617 --> 01:21:14,536
That, uh, yeah, downstairs there's more...
there's probably darker rooms.
1592
01:21:14,537 --> 01:21:16,704
What a bandit.
Most of you know this guy,
1593
01:21:16,705 --> 01:21:18,331
who is the Roaring Kitty character,
1594
01:21:18,332 --> 01:21:19,791
- who was really pushing it.
- Holy shit.
1595
01:21:19,792 --> 01:21:21,835
- You know, voicing the information.
- Yo, Riri, our boy's on the news.
1596
01:21:21,836 --> 01:21:23,753
And what's the potentially systemic risk?
1597
01:21:23,754 --> 01:21:26,089
Those relationships in D.C. are strong.
1598
01:21:26,090 --> 01:21:30,218
The guys who run those hedge funds are
the guys who fund presidential campaigns.
1599
01:21:30,219 --> 01:21:32,178
- You know Roaring Kitties don't have
- That's a good point.
1600
01:21:32,179 --> 01:21:33,596
- That kind of influence,
- Gill is now being sued
1601
01:21:33,597 --> 01:21:34,681
- but the hedge fund managers do.
- For securities fraud
1602
01:21:34,682 --> 01:21:37,016
over his alleged role
in the GameStop rally.
1603
01:21:37,017 --> 01:21:39,894
Is Mr. Gill likely to appear,
and if he appears,
1604
01:21:39,895 --> 01:21:44,065
is he likely to talk
if he faces the potential of prosecution?
1605
01:21:44,066 --> 01:21:49,070
Fundamentals are based on three things:
One, digital risks are overblown.
1606
01:21:49,071 --> 01:21:50,989
Two, the negative sentiment is overdone.
1607
01:21:50,990 --> 01:21:52,199
And three...
1608
01:21:55,911 --> 01:21:56,745
Fuck.
1609
01:21:56,746 --> 01:21:58,955
- Ah, c'mon, shut up.
- I know all this.
1610
01:22:00,374 --> 01:22:02,876
You guys, you guys, stop.
Stop, let's keep going.
1611
01:22:02,877 --> 01:22:04,002
All right, let's go again.
1612
01:22:04,003 --> 01:22:06,337
You're right, this is serious.
You can go to jail forever.
1613
01:22:06,338 --> 01:22:07,964
- A long time. Long, long time.
- All right. You ready?
1614
01:22:07,965 --> 01:22:09,924
You ready here we go. Back in the game.
1615
01:22:09,925 --> 01:22:13,094
- Mr. Gill. May I call you Mr. Gill, sir?
- It's my name.
1616
01:22:13,095 --> 01:22:15,597
Why the fuck wouldn't you be able
to call him Mr. Gill?
1617
01:22:15,598 --> 01:22:17,557
What were your intentions
with the YouTube videos
1618
01:22:17,558 --> 01:22:19,184
and your social media posts on GameStop?
1619
01:22:19,185 --> 01:22:20,768
- Yes.
- Thank you, congresswoman.
1620
01:22:20,769 --> 01:22:22,270
You're welcome.
1621
01:22:22,271 --> 01:22:24,397
I developed a theory
that the company was undervalued
1622
01:22:24,398 --> 01:22:26,191
despite the significant short interest.
1623
01:22:26,192 --> 01:22:28,193
Oh, so you were aware
of the short interest.
1624
01:22:28,194 --> 01:22:30,778
It is public knowledge.
You can see it in the SEC filings.
1625
01:22:30,779 --> 01:22:33,114
And your goal
was to break these shorts, yes?
1626
01:22:33,115 --> 01:22:36,743
To rally an online mob to artificially
push the price of GameStop soaring,
1627
01:22:36,744 --> 01:22:39,871
ah, "to the moon" as they say,
isn't that correct, Mr. Gill?
1628
01:22:39,872 --> 01:22:41,831
Objection, objection,
you're leading the witness.
1629
01:22:41,832 --> 01:22:42,916
- Kev...
- Witness.
1630
01:22:42,917 --> 01:22:44,375
I yield my time to the chair.
1631
01:22:44,376 --> 01:22:46,836
You were hoping for the short squeeze,
weren't you, Mr. Gill?
1632
01:22:46,837 --> 01:22:48,004
You short squeezing bastard.
1633
01:22:48,005 --> 01:22:50,089
The short squeeze
was a marginal point of the thesis.
1634
01:22:50,090 --> 01:22:52,258
Then why did you talk about it
in your videos all the time?
1635
01:22:52,259 --> 01:22:54,093
You did talk about it in your videos.
You talked about it a lot.
1636
01:22:54,094 --> 01:22:55,637
- You remember about the squeeze.
- Exactly.
1637
01:22:55,638 --> 01:22:56,846
You were like
"It's just a little squeeze."
1638
01:22:56,847 --> 01:22:57,847
Exactly.
1639
01:22:57,848 --> 01:23:00,391
Are you really asking us to believe
that you weren't a leader
1640
01:23:00,392 --> 01:23:02,602
- to all these retail traders?
- You're fucked, buddy.
1641
01:23:02,603 --> 01:23:04,771
- My point of view...
- Asking. Yes or no?
1642
01:23:04,772 --> 01:23:06,272
- Yes or no?
- Yes. So yes.
1643
01:23:06,273 --> 01:23:07,482
- Yes or no?
- You are admitting it. Yes.
1644
01:23:07,483 --> 01:23:08,900
Remember you with a cheap bottle
of champagne.
1645
01:23:08,901 --> 01:23:10,109
At any moment... Kevin!
1646
01:23:10,110 --> 01:23:11,152
- Kevin!
- Dunking ten dies like a fucking...
1647
01:23:11,153 --> 01:23:12,153
What?
1648
01:23:13,364 --> 01:23:15,741
I'm running with my dick out.
1649
01:23:16,825 --> 01:23:18,201
Okay, why don't you just say that?
1650
01:23:18,202 --> 01:23:19,578
Okay, I'll stop.
1651
01:23:20,371 --> 01:23:25,250
All right. Mr. Gill, what exactly
about the fundamentals
1652
01:23:25,251 --> 01:23:28,544
- led you to build this bull case?
- What the fuck's with the voice?
1653
01:23:28,545 --> 01:23:30,880
I don't know, I was trying to do AOC,
but it was flat.
1654
01:23:30,881 --> 01:23:32,173
I don't even think she's on the panel.
1655
01:23:32,174 --> 01:23:33,383
You shut the fuck up, Briggsy.
1656
01:23:33,384 --> 01:23:34,759
- I'll slap the shit out of you.
- Is she on that panel?
1657
01:23:34,760 --> 01:23:35,678
- I swear to God.
- You're gonna slap me?
1658
01:23:35,679 --> 01:23:37,053
- Yeah, let's go.
- You ready to go?
1659
01:23:37,054 --> 01:23:39,723
- Let's go.
- I've been waiting for this, dog.
1660
01:23:57,157 --> 01:23:58,157
Come here.
1661
01:24:06,750 --> 01:24:08,711
You're gonna be great.
1662
01:24:09,962 --> 01:24:12,672
If it goes bad, it's gonna be real bad.
1663
01:24:12,673 --> 01:24:14,465
Well, don't let it go bad.
1664
01:24:14,466 --> 01:24:18,720
This hearing will be first
in a series of hearings by the committee
1665
01:24:18,721 --> 01:24:23,808
to examine the recent market volatility
involving GameStop.
1666
01:24:23,809 --> 01:24:28,396
I want to know how each
of the witnesses here today
1667
01:24:28,397 --> 01:24:30,565
- contributed to the historic...
- Gabe, can you sit up?
1668
01:24:30,566 --> 01:24:33,736
Trading events in January.
1669
01:24:34,278 --> 01:24:36,529
This recent market volatility
1670
01:24:36,530 --> 01:24:41,117
has put a national spotlight
on institutional practices
1671
01:24:41,118 --> 01:24:42,785
by Wall Street firms.
1672
01:24:42,786 --> 01:24:46,456
And they have demonstrated
the enormous potential power
1673
01:24:46,457 --> 01:24:49,168
of social media in our markets.
1674
01:24:49,752 --> 01:24:53,297
We will hear firsthand from the witnesses
regarding these events.
1675
01:24:53,922 --> 01:24:58,092
The hearing will be an opportunity
for this committee to get the facts
1676
01:24:58,093 --> 01:25:01,346
about the role
each of the witnesses represent,
1677
01:25:01,347 --> 01:25:04,974
played in the events
we are examining today.
1678
01:25:04,975 --> 01:25:07,435
Well, now, Mr. Griffin,
if I could ask you this first question.
1679
01:25:07,436 --> 01:25:08,354
Of course.
1680
01:25:08,355 --> 01:25:10,522
How many people
are in the room with you?
1681
01:25:11,398 --> 01:25:12,440
That's your question?
1682
01:25:12,441 --> 01:25:14,921
If you can just count how many
people are in the room with you.
1683
01:25:19,156 --> 01:25:22,658
There are five people,
including myself, in this room.
1684
01:25:22,659 --> 01:25:24,327
- Anyone in your organization...
- Such a prick.
1685
01:25:24,328 --> 01:25:26,537
Since January 1st, contact Robinhood?
1686
01:25:26,538 --> 01:25:31,376
We of course talk to Robinhood routinely
in the ordinary course of business.
1687
01:25:31,377 --> 01:25:33,711
We manage a substantial portion
of their order flow.
1688
01:25:33,712 --> 01:25:36,089
But did you talk to them about restricting
1689
01:25:36,090 --> 01:25:40,301
or doing anything to prevent people
from buying GameStop?
1690
01:25:40,302 --> 01:25:43,096
I want to be perfectly clear.
1691
01:25:43,097 --> 01:25:46,808
We had no role in Robinhood's decision
1692
01:25:46,809 --> 01:25:49,060
- to limit trading in GameStop.
- Fuck you, Ken Griffin.
1693
01:25:49,061 --> 01:25:52,940
So, if we depose everyone
in your organization, we would find that?
1694
01:25:53,607 --> 01:25:54,525
That is correct.
1695
01:25:54,526 --> 01:25:57,151
Looks like a Disney Channel villain.
1696
01:25:57,152 --> 01:26:01,739
Mr. Plotkin, do you believe
that there is manipulation, distrust,
1697
01:26:01,740 --> 01:26:04,659
and overall inequality
within American finance?
1698
01:26:04,660 --> 01:26:06,828
My focus is on my company, Melvin...
1699
01:26:08,497 --> 01:26:09,664
Hello?
1700
01:26:09,665 --> 01:26:11,374
You're on mute, dick!
1701
01:26:11,375 --> 01:26:13,001
Ah, I'm sorry, you're on mute.
1702
01:26:17,214 --> 01:26:18,881
He just keeps going.
1703
01:26:18,882 --> 01:26:20,716
My area of expertise.
1704
01:26:20,717 --> 01:26:24,470
You're still on mute. I haven't been able
to hear a word you said, unfortunately.
1705
01:26:24,471 --> 01:26:26,848
Mr. Tenev,
would you be willing to commit today
1706
01:26:26,849 --> 01:26:29,016
- to voluntarily pass on the proceeds...
- Oh. Marry me.
1707
01:26:29,017 --> 01:26:31,811
Of the payment for order flow
to Robinhood customers?
1708
01:26:31,812 --> 01:26:34,355
Congresswoman, I appreciate that question.
1709
01:26:34,356 --> 01:26:38,568
When the statement you refer to was made,
it was before Robinhood forced
1710
01:26:38,569 --> 01:26:40,570
the entire industry to drop
1711
01:26:40,571 --> 01:26:42,280
- commissions and replicate our...
- I should take that as a no.
1712
01:26:42,281 --> 01:26:45,116
You're not willing to pass on
the proceeds of payment for order flow
1713
01:26:45,117 --> 01:26:46,076
to your customers?
1714
01:26:46,077 --> 01:26:48,786
- When the other brokers drop...
- I'm just talking about today.
1715
01:26:48,787 --> 01:26:49,996
- Asshole.
- I don't want to be rude.
1716
01:26:49,997 --> 01:26:51,372
I just have limited time,
1717
01:26:51,373 --> 01:26:55,376
but if removing the revenues that you make
from a payment for order flow
1718
01:26:55,377 --> 01:26:58,880
would cause the removal
of free commissions,
1719
01:26:58,881 --> 01:27:00,673
doesn't that mean that
trading on Robinhood
1720
01:27:00,674 --> 01:27:02,633
isn't actually free to begin with?
1721
01:27:02,634 --> 01:27:04,011
Good question.
1722
01:27:10,642 --> 01:27:12,894
Thank you very much, Mr. Gill.
1723
01:27:12,895 --> 01:27:17,524
You are now recognized for five minutes
to present your oral testimony.
1724
01:27:29,453 --> 01:27:31,914
Thank you, members of the committee.
1725
01:27:34,458 --> 01:27:37,753
I am happy to discuss my purchase
of GameStop shares
1726
01:27:38,337 --> 01:27:41,715
and my discussions of their fair value
on social media.
1727
01:27:42,549 --> 01:27:44,175
But before I do that,
1728
01:27:44,176 --> 01:27:46,094
a few things I am not:
1729
01:27:47,888 --> 01:27:49,097
I am not a cat.
1730
01:27:50,641 --> 01:27:52,892
- What did he say?
- He just said cat, Ma.
1731
01:27:52,893 --> 01:27:54,185
It's like a kitty thing.
1732
01:27:54,186 --> 01:27:56,604
Nor am I a hedge fund.
I do not have clients,
1733
01:27:56,605 --> 01:28:01,943
and I do not provide personalized
investment advice for fees or commissions.
1734
01:28:01,944 --> 01:28:04,029
I grew up in Brockton, Mass.
1735
01:28:04,780 --> 01:28:06,656
My family was not wealthy.
1736
01:28:06,657 --> 01:28:09,992
My father was a truck driver
and my mom a registered nurse.
1737
01:28:09,993 --> 01:28:12,203
- That's you, Ma!
- I was one of three kids
1738
01:28:12,204 --> 01:28:15,289
and the first in my family
to earn a four-year college degree
1739
01:28:15,290 --> 01:28:19,460
when I graduated from Stonehill College
in 2009.
1740
01:28:19,461 --> 01:28:21,587
That was not a good time
to be looking for a job.
1741
01:28:21,588 --> 01:28:24,090
From 2010-2017,
1742
01:28:24,091 --> 01:28:27,552
there were significant periods
when I was unemployed.
1743
01:28:27,553 --> 01:28:29,929
I took an interest in the stock market,
1744
01:28:29,930 --> 01:28:32,223
and even though I had very little money,
1745
01:28:32,224 --> 01:28:36,435
I used those times to educate myself
and learn more about investing.
1746
01:28:36,436 --> 01:28:40,398
Mr. Gill, I find it hard to believe
that you predicted everything
1747
01:28:40,399 --> 01:28:44,068
that happened to GameStop
with no inside information.
1748
01:28:44,069 --> 01:28:45,820
Uh, I didn't predict it.
1749
01:28:45,821 --> 01:28:49,198
I honestly couldn't explain everything
that happened in January.
1750
01:28:49,199 --> 01:28:53,035
I've seen your videos. You honestly
couldn't recount to the committee
1751
01:28:53,036 --> 01:28:57,624
what caused every single up and down
of the stock in January?
1752
01:28:58,208 --> 01:28:59,334
I think you could.
1753
01:29:00,669 --> 01:29:04,046
I did follow the stock, uh, very closely,
1754
01:29:04,047 --> 01:29:07,675
but threshold lists, order flows,
halting purchases, according to the press,
1755
01:29:07,676 --> 01:29:09,635
these all had a material impact
on the stock.
1756
01:29:09,636 --> 01:29:12,305
Here's the thing: I have
a bit of experience with this stuff,
1757
01:29:12,306 --> 01:29:14,307
and even I barely understand
these matters.
1758
01:29:14,308 --> 01:29:18,185
It's alarming how little we all know
about the inner workings of the market.
1759
01:29:18,186 --> 01:29:20,896
Which is why I'm glad this committee
is examining what happened,
1760
01:29:20,897 --> 01:29:23,691
particularly with the exorbitant
short interest
1761
01:29:23,692 --> 01:29:26,652
as well as any potentially
manipulative shorting practices
1762
01:29:26,653 --> 01:29:30,823
and brokers' reported failures to
timely deliver shares and settle trades.
1763
01:29:34,119 --> 01:29:36,329
A lot of people feel the system is broken.
1764
01:29:36,330 --> 01:29:40,416
The whole idea of the stock market is to
be, like, kind of a fair playing field,
1765
01:29:40,417 --> 01:29:44,338
where if you're smart, maybe with a little
luck, you could make your fortune.
1766
01:29:45,130 --> 01:29:47,466
But, if it ever was that,
it's certainly not any more.
1767
01:29:48,550 --> 01:29:51,886
The big firms have such a big advantage,
in terms of technology and information
1768
01:29:51,887 --> 01:29:55,223
and just sheer wealth, there's no hope
for the little guy anymore.
1769
01:29:55,974 --> 01:29:57,851
Or there was no hope.
1770
01:29:58,602 --> 01:30:00,646
Maybe now, there is.
1771
01:30:02,814 --> 01:30:04,274
And as for me,
1772
01:30:04,983 --> 01:30:06,150
I like the stock.
1773
01:30:07,152 --> 01:30:09,612
He's a gangster for that.
1774
01:30:09,613 --> 01:30:11,322
I don't plan on selling any time soon.
1775
01:30:11,323 --> 01:30:13,032
- Hold it.
- Say that shit.
1776
01:30:13,033 --> 01:30:14,075
Diamond fucking hands.
1777
01:30:14,076 --> 01:30:15,077
Diamond hands, baby.
1778
01:30:16,203 --> 01:30:17,745
Attaboy.
1779
01:30:17,746 --> 01:30:19,122
What a nerd.
1780
01:30:19,748 --> 01:30:20,748
Thank you.
1781
01:30:28,340 --> 01:30:30,759
It was good. I think.
1782
01:30:31,927 --> 01:30:34,804
Yesterday's Reddit hearing
in Congress brought together
1783
01:30:34,805 --> 01:30:37,181
some of the power players
behind the January trading frenzy.
1784
01:30:37,182 --> 01:30:40,434
Representative Maxine Waters did
say there will be additional hearings...
1785
01:30:40,435 --> 01:30:43,646
What you got here involves people
named DFV and Roaring Kitty, ultimately...
1786
01:30:43,647 --> 01:30:46,691
two more to follow to find
more answers, one market expert...
1787
01:30:46,692 --> 01:30:48,484
Whether it's markets
or social media,
1788
01:30:48,485 --> 01:30:50,277
I'll just call it media because it is now.
1789
01:30:50,278 --> 01:30:52,196
Do you think any new regulation gets done?
1790
01:30:52,197 --> 01:30:54,365
What's clear is that
we're in the Wild West
1791
01:30:54,366 --> 01:30:57,535
and that there is so much activity
that's going on, on these online forums.
1792
01:30:57,536 --> 01:31:00,830
And we've seen in the last month
and the last six weeks how much force
1793
01:31:00,831 --> 01:31:04,458
day traders en masse can bring
to the market and actually affect it.
1794
01:31:04,459 --> 01:31:06,502
They used to just make some noise
around the edges.
1795
01:31:06,503 --> 01:31:09,296
Now they can actually move markets,
move securities.
1796
01:31:40,787 --> 01:31:41,913
Cheers, everyone.
1797
01:31:48,962 --> 01:31:49,962
Ah.
1798
01:31:58,430 --> 01:31:59,973
You're a fucking gangster.
1799
01:32:19,618 --> 01:32:22,119
Hey, man, I notice you've been
selling a lot of new games,
1800
01:32:22,120 --> 01:32:25,414
and I just wanted to remind you, again,
that we really wanna be pushing customers
1801
01:32:25,415 --> 01:32:28,001
towards the higher-margin pre-owned games.
1802
01:32:29,044 --> 01:32:31,003
Yeah, I'm not gonna do that.
1803
01:32:31,004 --> 01:32:31,922
Excuse me?
1804
01:32:31,923 --> 01:32:34,632
Oh, and in fact, I'm not gonna do
any of the Circle of Life bullshit.
1805
01:32:34,633 --> 01:32:36,091
Or your TikTok dance contest.
1806
01:32:36,092 --> 01:32:37,177
You're quitting, then.
1807
01:32:39,137 --> 01:32:40,137
Okay.
1808
01:32:40,138 --> 01:32:41,973
No, I mean, I thought about it, but...
1809
01:32:42,974 --> 01:32:44,767
Like, yo, I love it here.
1810
01:32:44,768 --> 01:32:46,519
So I think I'm gonna stay.
1811
01:32:46,520 --> 01:32:50,065
Well, you're awfully smug for a kid
who lost all his money buying stock.
1812
01:32:50,565 --> 01:32:52,984
What did you say it was going to?
A thousand?
1813
01:32:54,236 --> 01:32:56,738
I'm also not gonna work
at the ass crack of dawn any more.
1814
01:32:57,864 --> 01:32:58,864
You're fired.
1815
01:33:00,659 --> 01:33:01,909
No, I'm not.
1816
01:33:01,910 --> 01:33:04,704
You gotta get that approved
by like seven levels of people, yo.
1817
01:33:05,205 --> 01:33:07,748
Thanks to the geniuses
who put that together.
1818
01:33:07,749 --> 01:33:09,793
The ones who used to own my ass.
1819
01:33:10,293 --> 01:33:11,294
You sold?
1820
01:33:12,587 --> 01:33:13,587
Half.
1821
01:33:14,756 --> 01:33:16,715
Right at the tippy tippy top.
1822
01:33:16,716 --> 01:33:19,552
And I'm holding the other half
for the long haul.
1823
01:33:19,553 --> 01:33:21,388
♪ 'Cause I'm a savage ♪
1824
01:33:21,888 --> 01:33:24,474
♪ Classy, bougie, ratchet ♪
1825
01:33:25,016 --> 01:33:27,852
♪ Sassy, moody, nasty ♪
1826
01:33:27,853 --> 01:33:30,187
♪ Acting stupid what was happening ♪
1827
01:33:31,523 --> 01:33:35,192
♪ Classy, bougie, ratchet ♪
1828
01:33:35,193 --> 01:33:38,112
♪ Sassy, moody, nasty ♪
1829
01:33:38,113 --> 01:33:40,155
♪ Acting stupid, what's happening? ♪
1830
01:33:40,156 --> 01:33:41,657
♪ Bitch, what's happening? ♪
1831
01:33:41,658 --> 01:33:43,617
♪ Bitch, I'm a savage, yeah ♪
1832
01:33:43,618 --> 01:33:46,287
♪ Classy, bougie, ratchet, yeah ♪
1833
01:33:46,288 --> 01:33:49,123
♪ Sassy, moody, nasty ♪
1834
01:33:49,124 --> 01:33:51,750
♪ Acting stupid, what's happening? ♪
1835
01:33:51,751 --> 01:33:53,669
♪ Bitch, what's happening? ♪
1836
01:33:53,670 --> 01:33:56,463
♪ Eat me and record it
But your edge-up all I'm showing ♪
1837
01:33:56,464 --> 01:33:59,341
♪ I keep my niggas private
So his AP all I'm showing ♪
1838
01:33:59,342 --> 01:34:01,927
♪ Beefing with you bitches
Really getting kinda boring ♪
1839
01:34:01,928 --> 01:34:04,680
♪ If it ain't about the money
Then you know I'm gon' ignore it ♪
1840
01:34:04,681 --> 01:34:05,599
♪ I'm the shit, ooh ♪
1841
01:34:05,600 --> 01:34:08,767
♪ I need a mop to clean the floor
It's too much drip, ooh ♪
1842
01:34:08,768 --> 01:34:10,895
♪ I keep a knot, I keep a watch
I keep a whip... ♪
1843
01:34:10,896 --> 01:34:12,230
Fuck yeah!
1844
01:34:12,772 --> 01:34:15,524
I'm here testifying today
far removed from my background.
1845
01:34:15,525 --> 01:34:17,818
I grew up in a middle-class family
in Portland, Maine.
1846
01:34:17,819 --> 01:34:19,486
I went to a public high school.
1847
01:34:19,487 --> 01:34:21,906
I studied hard
and got into a good college.
1848
01:34:21,907 --> 01:34:24,450
Upon graduation, I did not have a job.
1849
01:34:24,451 --> 01:34:27,536
♪ Bitch, what's happening? ♪
1850
01:34:27,537 --> 01:34:33,500
When the statement you refer to was made,
uh, I believe 2015 or 2016,
1851
01:34:33,501 --> 01:34:36,587
it was before Robinhood
forced the entire industry
1852
01:34:36,588 --> 01:34:39,340
- to drop commissions and replicate our...
- I should take that as a no.
1853
01:34:39,341 --> 01:34:42,259
You're not willing to pass on
the proceeds of payment for order flow
1854
01:34:42,260 --> 01:34:43,469
to your customers?
1855
01:34:43,470 --> 01:34:45,721
♪ That body right
But you know this pussy fat, ooh ♪
1856
01:34:45,722 --> 01:34:48,140
♪ I drop a picture
Now these bitches feel attacked ♪
1857
01:34:48,141 --> 01:34:50,976
♪ Don't let that nigga gas you up
And get you whacked, ooh ♪
1858
01:34:50,977 --> 01:34:52,978
♪ I make a call
and get a pussy nigga smacked... ♪
1859
01:34:52,979 --> 01:34:57,858
But did you talk to them about restricting
or doing anything to prevent people
1860
01:34:57,859 --> 01:35:01,278
from buying, not selling
but buying, in GameStop?
1861
01:35:01,279 --> 01:35:03,406
Let me be perfectly clear.
1862
01:35:04,157 --> 01:35:06,450
Absolutely not.
1863
01:35:31,267 --> 01:35:33,310
As for me, I like the stock.
1864
01:35:33,311 --> 01:35:34,396
♪ Mwah ♪
1865
01:35:36,147 --> 01:35:37,607
Hurry up, dick, it's cold.
1866
01:35:38,483 --> 01:35:40,067
I can't believe you're my brother.
1867
01:35:40,068 --> 01:35:41,610
You look like a fucking Ninja Turtle.
1868
01:35:41,611 --> 01:35:43,279
- Ready?
- Yup.
1869
01:35:44,114 --> 01:35:45,531
- Set... What?
- Fuck you!
1870
01:35:45,532 --> 01:35:46,532
Kevin!
1871
01:35:48,743 --> 01:35:49,785
C'mon, Kitty!
1872
01:36:00,380 --> 01:36:02,507
♪ I'm gonna fight 'em off ♪
1873
01:36:03,842 --> 01:36:07,679
♪ A seven nation army
Couldn't hold me back ♪
1874
01:36:08,221 --> 01:36:10,223
♪ They're gonna rip it off ♪
1875
01:36:11,766 --> 01:36:15,477
♪ Takin' their time right behind my back ♪
1876
01:36:15,478 --> 01:36:21,276
♪ And the message comin' from my eyes
Says, "Leave it alone" ♪
1877
01:36:55,477 --> 01:36:57,687
♪ Don't want to hear about it ♪
1878
01:36:59,314 --> 01:37:02,776
♪ Every single one's got a story to tell ♪
1879
01:37:03,443 --> 01:37:05,403
♪ Everyone knows about it ♪
1880
01:37:06,988 --> 01:37:10,492
♪ From the Queen of England
To the Hounds of Hell ♪
1881
01:37:11,159 --> 01:37:16,247
♪ And if I catch it comin' back my way
I'm gonna serve it to you ♪
1882
01:37:19,292 --> 01:37:24,005
♪ And that ain't what you want to hear
But that's what I'll do ♪
1883
01:37:26,841 --> 01:37:32,180
♪ And the feelin' comin' from my bones
Says, "Find a home" ♪
1884
01:38:22,188 --> 01:38:24,190
♪ I'm goin' to Wichita ♪
1885
01:38:25,817 --> 01:38:29,195
♪ Far from this opera for evermore ♪
1886
01:38:29,946 --> 01:38:31,990
♪ I'm gonna work the straw ♪
1887
01:38:33,491 --> 01:38:37,162
♪ Make the sweat drip out of every pore ♪
1888
01:38:37,912 --> 01:38:43,084
♪ And I'm bleedin' and I'm bleedin'
And I'm bleedin' right before the Lord ♪
1889
01:38:45,753 --> 01:38:50,800
♪ All the words are gonna bleed from me
And I will think no more ♪
1890
01:38:53,511 --> 01:38:58,474
♪ And the stains comin' from my blood
Tell me, "Go back home" ♪
1891
01:39:20,872 --> 01:39:23,499
♪ You make me wanna
You make me wanna ♪
1892
01:39:24,542 --> 01:39:25,752
♪ You make me wanna ♪
1893
01:39:28,379 --> 01:39:31,174
♪ You make me wanna
You make me wanna ♪
1894
01:39:32,008 --> 01:39:33,468
♪ You make me wanna ♪
1895
01:39:36,012 --> 01:39:38,932
♪ You make me wanna
You make me wanna ♪
1896
01:39:39,599 --> 01:39:41,100
♪ You make me wanna ♪
1897
01:39:57,242 --> 01:39:58,451
♪ You make me wanna ♪
1898
01:40:04,207 --> 01:40:05,667
♪ You make me wanna ♪
1899
01:40:06,709 --> 01:40:09,629
♪ You make me wanna
You make me wanna ♪
1900
01:40:10,296 --> 01:40:11,756
♪ You make me wanna ♪
1901
01:40:14,092 --> 01:40:17,512
♪ You make me wanna
You make me wanna ♪
1902
01:40:18,304 --> 01:40:19,555
♪ You make me wanna ♪
1903
01:40:37,573 --> 01:40:40,493
♪ You make me wanna
You make me wanna ♪
1904
01:40:41,452 --> 01:40:42,537
♪ You make me wanna ♪
1905
01:40:45,081 --> 01:40:48,251
♪ You make me wanna
You make me wanna ♪
1906
01:40:48,876 --> 01:40:50,169
♪ You make me wanna ♪
1907
01:40:52,088 --> 01:40:55,842
♪ You make me wanna
You make me wanna ♪
1908
01:40:56,676 --> 01:40:58,052
♪ You make me wanna ♪
1909
01:41:11,566 --> 01:41:13,192
♪ You make me wanna ♪
1910
01:41:19,532 --> 01:41:20,658
♪ You make me wanna ♪
1911
01:41:21,743 --> 01:41:24,704
♪ You make me wanna
You make me wanna ♪
1912
01:41:25,496 --> 01:41:26,748
♪ You make me wanna ♪
1913
01:41:28,916 --> 01:41:32,378
♪ You make me wanna
You make me wanna ♪
1914
01:41:33,212 --> 01:41:34,338
♪ You make me wanna ♪