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*Now a major movie starring Seth Rogen, Paul Dano, Pete Davidson, Shailene Woodley, Sebastian Stan and Nick Offerman*The GameStop Short Squeeze and the Ragtag Group of Amateur Traders that Brought Wall Street to its Knees. Bestselling author Ben Mezrich offers a gripping, beat-by-beat account of how a loosely affiliate group of private investors and internet trolls took down one of the biggest hedge funds on Wall Street, firing the first shot in a revolution that threatens to upend the financial establishment.It started on a subreddit forum called WallStreetBets - a meme-filled, freewheeling place where a disparate group of investors shared their shoot-the-moon investment tips, laughed about big losses and posted diamond hand emojis. Until some members noticed an opportunity in Game Stop - a flailing bricks and mortar video-game retailer - and somehow rode a rocket ship to tens of millions of dollars in earnings overnight, simultaneously triggering unfathomable losses for one of the most respected funds on the street.In thrilling, pulse-pounding prose, DUMB MONEY (previously published as THE ANTISOCIAL NETWORK) offers a fascinating, never-before-seen glimpse at the outsize personalities, dizzying swings, corporate drama, and underestimated American heroes and heroines who captivated the world during one of the most volatile weeks in financial history. It's the amazing story of what just happened - and where we go from here.
The GameStop short squeeze ignited a financial revolution, challenging the established order of Wall Street. The book chronicles the unlikely rise of amateur investors and internet trolls who, originating from the WallStreetBets subreddit, orchestrated a massive short squeeze against a prominent hedge fund. It details their strategies, the dizzying market fluctuations, and the corporate drama that unfolded, ultimately highlighting the power of collective action in the digital age and questioning the future of financial markets.
The book offers a gripping, beat-by-beat account of the GameStop short squeeze, drawing on the author's expertise in chronicling financial events. It is praised for its thrilling prose and for providing a fascinating, never-before-seen glimpse into the personalities and events that captivated the world. The narrative focuses on the underestimated heroes and heroines who participated in this volatile week, exploring the immediate aftermath and potential future consequences for the financial industry.
Page Count:
288
Publication Date:
2021-09-16
Publisher:
HarperCollins Publishers Limited
ISBN-10:
0008497028
ISBN-13:
9780008497026
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