GameStop Makes This a Good Time to Rewatch ‘The Big Short’

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On Wednesday night, Trevor Noah took a bubble bath. On tv. Producers at The daily show, Obviously, thought that would be the best way to explain it Gametop drama It has consumed financials – and an extremely online world. Gog was good; He was originally a floating head on the body of Margot Robbie View In Adam McKay’s 2015 film The big short Where the actress describes the mortgage bonds and how to “reduce” them. Seeing which Whole GameStop fiasco Stocks on Reddit revolve around traders trying to stick to hedge funds to bring down the brick-and-mortar video game retailer, this week’s reality and film (which was also based on real life ) The implied analogy between) could not be more appropriate. .

One of the big drivers of GameStop’s share price fight is the fact that retail investors — individual investors, not institutions — have turned GME (the company’s stock ticker symbol) into a meme on the subredit walcritbats. Suddenly everyone was talking about “stoneballs”. GameStop went viral, a legend emerged. The hedge fund villains who tried to subdue America’s beloved mall video game retailer; Redditors and others buying GME stock were heroes for raising the price and “squeezing” it. There were similar attempts to rally around the shares of AMC theater chains and Dogcoin. On Thursday, Robinhood and TD Amritrade, two services frequently used by retail investors, Restricted trade GME (and other stocks) moved toward $ 500 per share after its price. Elon Musk weighed in. So is Twitter’s new favorite commentator, Dionne Warwick, And, inexplicably, JA Rule. The whole thing has been frantic to say the least.

It’s no surprise The big short Will become a reference point. Social media – and regular media (hello!) – in the context of the film as well as Martin Scors’s senses The Wolf of Wall StreetAbout stockbroker Jordan Belfort. Given that McKay’s film opens with a line about how “some outsiders and weirdos saw what someone else could do … saw huge lies at the heart of the economy,” it’s easy to see the similarities. Everyone wants to clamp down on big-money players who always seem to spoil average people. But there is more to it than that. The big short Just not about trying to get one on Goldman Sachs. It is about the culture that allowed it to happen.

Take Margot Robbie in the tub. That scene was not about finding a great way to perform something. The point was that people had to pay attention to what they were ignoring (a volatile market created out of subprime mortgages) to be reunited with something that was distracting them (celebrity). . When the housing market — Michael Berry’s (Christian Bale) market — shortened in McKay’s film – crashed in 2008, it was when America was absorbed into Britney Spears, Facebook and iPhones. Furthermore, the elite language of banking made it harder for average Americans to keep up, so they completely ignored it. McKay, when he made his film, aimed to understand that people could understand this economics – if it was provided in the right form. That is why he had people like Robbie, Anthony Bourdain and Selena Gomez explain the basics. Base of The big short, He told me In 2015, when the film was a hit in theaters, “it was to take this 24-hour pop culture machine, which tells us what Kim Kardashian says and then says,” What if that machine gave us real information is?”

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