Review of Dumb Money directed by Craig Gillespie, written by Lauren Schuker Blum, Rebecca Angelo, Ben Mezrich rating *****
I don’t know why this film wasn’t an awards contender last year. It was way more entertaining than some of the films that made the list for Best Picture. The film reminded me of two other films that used humor to tell a complex story – I, Tanya, which was also directed by Craig Gillespie, and The Big Short.
Dumb Money is the story of how one social media influencer, Keith Gill, also known as Roaring Kitty on Reddit, transformed Game Stop’s stock from perirenal loser to meme stock success. Paul Dano expertly plays Keith Gill. Keith dishes out stock-buying advice on YouTube and Reddit by posting his own portfolio for anyone to see. His popularity increases during the pandemic, which is referenced throughout the film. However, things really take off when he recommends Game Stop, mentioning how the rest of Wall Street was betting against the stock by shorting it. When his followers started buying up shares, the big hedge funds, who were betting against the stock, began to lose money. The whole thing became a story of the little guy taking down the large hedge funds, which many believe have an unfair advantage.
What goes up must come down. The film follows several small-time investors who find their small investments turn into windfalls. As the large Hedge Fund managers learn what is driving up the price of the stock, they are accused of colluding with Robinhood, a stock investment firm, to halt the purchase of the stock. That’s when the stock starts to take a nose dive. The question becomes whether investors should sell and take their profits or hold on to the stock. Seth Rogen plays one of the hedge fund managers trying to stop the stock from rising.
Eventually, Keith Gill is subpoenaed to testify before Congress. This leads to perhaps the funniest scene I’ve seen in a while: several lawyers prep a hedge fund manager for his testimony while Keith’s family members and friends prep him for his appearance before Congress. Pete Davidson, who plays Keith’s brother, is particularly funny in this scene.
The film is even more relevant now because Keith Gill is once again driving up the price of Game Stop. You can catch it on Netflix.
My recommendation: I like the film.