Keith Gill runs a small-time vlog from his basement, in which he does not offer investment advice, but instead openly displays his own modest investment portfolio and explains which stocks he likes. One such stock is Gamestop, which he believes is undervalued. It transpires that hedge funds have taken forward positions on Gamestop, believing that the share price will tank, following which they will make a killing. But many small investors, following Keith, buy Gamestop. This pushes the price up, and leaves the hedge funds in deep trouble as they have to cover now deeply damaging forward positions.
This true story, featuring the side stories of many small investors, is both heartening and depressing as it shows the small guy taking on big financial muscle and winning - until the big guys cheat.
It's a fascinating story, at least up to the end, at which point it wanders of into a king of inconsequential lack of resolution. Just like real life, in fact.
This true story, featuring the side stories of many small investors, is both heartening and depressing as it shows the small guy taking on big financial muscle and winning - until the big guys cheat.
It's a fascinating story, at least up to the end, at which point it wanders of into a king of inconsequential lack of resolution. Just like real life, in fact.