1 00:01:11,280 --> 00:01:13,532 So, I'm here. 2 00:01:13,532 --> 00:01:17,870 {\an8}- And, I do not see anything happening. - Right. 3 00:01:17,870 --> 00:01:19,746 {\an8}- Right. - At all. 4 00:01:19,746 --> 00:01:20,789 Look, I'm very sorry, sir. 5 00:01:20,789 --> 00:01:23,709 Guess what I'm trying to understand is, what is the reason for this delay exactly? 6 00:01:23,709 --> 00:01:24,793 Yeah. Mr Plotkin, 7 00:01:24,793 --> 00:01:26,295 - Specifically. - I'm so sorry. 8 00:01:26,295 --> 00:01:29,715 - But it's just that when we set out... - Yeah, we closed in November. 9 00:01:29,715 --> 00:01:31,133 We had all the permit applications in 10 00:01:31,133 --> 00:01:32,634 - before the end of the year. - Right. Once we get... 11 00:01:32,634 --> 00:01:33,802 ...the final stamp of approval. 12 00:01:33,802 --> 00:01:35,345 And we can't get the trucks here a little early? 13 00:01:35,345 --> 00:01:37,222 - Just, you know, get 'em started. - Miami Beach ordinances... 14 00:01:37,222 --> 00:01:38,640 - won't let me do that. - Is anyone actually... 15 00:01:38,640 --> 00:01:40,726 - ...enforcing those regulations? - Look, Mr Plotkin, 16 00:01:40,726 --> 00:01:42,352 I know that you're eager to move in. Okay. 17 00:01:42,352 --> 00:01:44,062 - Once we get the final stamp of approval. - No. 18 00:01:44,062 --> 00:01:45,522 - You're gonna be the first... - One second. 19 00:01:45,522 --> 00:01:46,648 Sure. 20 00:01:47,149 --> 00:01:48,233 {\an8}Hello? 21 00:01:51,111 --> 00:01:53,071 {\an8}You see what's going on at GME? 22 00:01:53,071 --> 00:01:54,698 {\an8}There's more of these idiots? 23 00:01:54,698 --> 00:01:57,659 ...the short sellers, now they're getting creamed by the little guy. 24 00:01:57,659 --> 00:01:58,827 A lot more. 25 00:01:58,827 --> 00:02:00,370 They won't hold much longer. 26 00:02:00,370 --> 00:02:01,496 Go away. 27 00:02:02,372 --> 00:02:04,833 Oh Gabe, honey, they're holding. 28 00:02:05,626 --> 00:02:07,794 It just crossed a hundred. 29 00:02:07,794 --> 00:02:10,130 Gabe, where are you? 30 00:02:10,130 --> 00:02:11,298 Fuck! 31 00:02:11,298 --> 00:02:13,091 You should probably dial in. 32 00:02:13,091 --> 00:02:14,384 Yeah, be on in one sec. 33 00:02:31,527 --> 00:02:32,986 {\an8}I will tell you I've never seen anything like it. 34 00:02:32,986 --> 00:02:34,530 I'm concerned about it. 35 00:02:34,530 --> 00:02:36,490 I'm calling it the ultimate short squeeze. 36 00:02:36,490 --> 00:02:38,784 {\an8}You can lose money to infinity. 37 00:02:38,784 --> 00:02:42,329 It's very different, more highly leveraged game on the other side. 38 00:02:43,705 --> 00:02:44,915 Holy fucking shit. 39 00:02:46,041 --> 00:02:48,836 Right now we're gonna talk about GameStop. Those shares... 40 00:02:48,836 --> 00:02:52,047 - are nonstop earning of about 130% today. - Holy fucking shit! 41 00:02:52,047 --> 00:02:53,757 - Holy shit! - What the... 42 00:02:53,757 --> 00:02:55,008 ...fuck! 43 00:02:59,555 --> 00:03:00,681 Holy shit. 44 00:03:00,681 --> 00:03:02,516 - Yes. Hello? - Great news, Mr Plotkin. 45 00:03:02,516 --> 00:03:05,227 I think we'll be able to get you into your new home a little sooner 46 00:03:05,227 --> 00:03:07,145 - than I actually thought. - I think we're having some sort of 47 00:03:07,145 --> 00:03:09,648 miscommunication here. Because I'm not trying to move into that house. 48 00:03:09,648 --> 00:03:12,401 I'm trying to tear that house down so I can build a tennis court 49 00:03:12,401 --> 00:03:14,403 for me and my family to play during the pandemic. 50 00:03:14,403 --> 00:03:15,904 - I see. - I thought it would be very simple. 51 00:03:15,904 --> 00:03:17,865 Apparently, it isn't because the pandemic is almost over 52 00:03:17,865 --> 00:03:19,491 - and there's no tennis court. - Okay, Mr Plotkin. 53 00:03:19,491 --> 00:03:20,909 Thank you for your time. 54 00:03:20,909 --> 00:03:22,661 Yes, what? Hello? 55 00:03:22,661 --> 00:03:25,497 Hi, it's Ken Griffin. 56 00:03:31,044 --> 00:03:33,380 Hi there, Ken, how are you? Great to hear from you. 57 00:03:34,548 --> 00:03:35,591 Do you have a minute? 58 00:03:37,676 --> 00:03:38,760 I... 59 00:03:40,345 --> 00:03:42,848 {\an8}I gotta call you right back. If that's okay. I'm so sorry. 60 00:03:44,057 --> 00:03:45,392 - Sure. - Okay, great. 61 00:03:46,935 --> 00:03:48,478 Hi. What's happening right now? 62 00:03:48,478 --> 00:03:51,023 It looks like there's one guy driving all the buying. 63 00:03:51,023 --> 00:03:52,357 What... what... what guy? 64 00:03:53,525 --> 00:03:56,570 I believe his name is "Roaring Kitty." 65 00:03:59,865 --> 00:04:01,116 Oh, wait, or... 66 00:04:02,993 --> 00:04:04,828 "Deep Fucking Value." 67 00:04:04,828 --> 00:04:07,456 "Roaring Kitty" or "Deep Fucking Value." What? 68 00:04:08,415 --> 00:04:11,543 He's "Roaring Kitty" on YouTube and "Deep Fucking Value" on Reddit. 69 00:04:11,543 --> 00:04:14,087 Both? He couldn't pick one name? 70 00:04:14,087 --> 00:04:15,839 I don't know. I love this guy. 71 00:04:22,971 --> 00:04:24,389 Who is this schmuck? 72 00:04:24,389 --> 00:04:26,266 I don't know, but I think I just came. 73 00:05:32,040 --> 00:05:34,251 - Ruby... Ruby, right? - Yeah. 74 00:05:34,251 --> 00:05:35,794 - Can I get a couple of Heinies, please? - One. 75 00:05:35,794 --> 00:05:37,629 Sorry... 76 00:05:37,629 --> 00:05:39,965 - I'm gonna have a... - What? What's wrong with a Heinie? 77 00:05:39,965 --> 00:05:41,466 Drinking it since we were 17! 78 00:05:41,466 --> 00:05:43,552 Hey, drink what you like. No judgement. 79 00:05:44,136 --> 00:05:45,220 You have a Hamm's? 80 00:05:45,220 --> 00:05:47,806 - I'll have one of those. - The fuck did you just order? 81 00:05:47,806 --> 00:05:50,684 Oh, it's a nice one outta Milwaukee. Good quality. 82 00:05:50,684 --> 00:05:53,604 - Fifty cents a can before markup. - C'mon, Kitty. Forget about price. 83 00:05:53,604 --> 00:05:54,855 Get him a Heineken, thank you. 84 00:05:54,855 --> 00:05:56,315 - It's on me. - Thanks, man. 85 00:05:56,315 --> 00:05:59,026 Thank you, that's nice. I'll have a Hamm's. 86 00:05:59,026 --> 00:06:00,652 So a Heineken and a Hamm's? 87 00:06:00,652 --> 00:06:01,778 Thank you. 88 00:06:01,778 --> 00:06:02,988 Please. 89 00:06:02,988 --> 00:06:04,323 Thank you, Ruby. 90 00:06:09,953 --> 00:06:10,954 How you been, man? 91 00:06:10,954 --> 00:06:13,081 The whole Sara thing. 92 00:06:13,081 --> 00:06:16,293 Oh, yeah. Okay... 93 00:06:16,293 --> 00:06:17,711 Up and down. 94 00:06:18,337 --> 00:06:19,463 Yeah. 95 00:06:21,173 --> 00:06:22,758 - How's your asshole brother? - Still an asshole. 96 00:06:22,758 --> 00:06:24,551 - Okay. - Yeah. 97 00:06:25,135 --> 00:06:26,762 Keeping busy at least? 98 00:06:26,762 --> 00:06:30,057 Got the day job at MassMutual. Working on my portfolio. 99 00:06:30,057 --> 00:06:32,059 That's the last thing you should be worrying about right now. 100 00:06:32,768 --> 00:06:34,770 Why? It's a... It's a good distraction. 101 00:06:34,770 --> 00:06:36,146 Lemme take that over for you. 102 00:06:36,146 --> 00:06:37,689 We got thousands of analysts at B of A 103 00:06:37,689 --> 00:06:40,150 - that do just this. C'mon, Kitty. - All good, man. Thank you. 104 00:06:40,150 --> 00:06:41,693 You should be focused on your family right now. 105 00:06:41,693 --> 00:06:43,195 Not fucking around with penny stocks. 106 00:06:43,195 --> 00:06:45,906 They're not all penny stocks. GameStop isn't a penny stock. 107 00:06:45,906 --> 00:06:47,407 GameStop? 108 00:06:47,407 --> 00:06:48,867 - Dude... - You used to love GameStop! 109 00:06:48,867 --> 00:06:52,037 - Yeah, then I grew up. - Well, I think it's undervalued. 110 00:06:52,621 --> 00:06:54,623 I just sold off a bunch of other shit to double down. 111 00:06:54,623 --> 00:06:56,583 How much are we talking? A grand? 112 00:06:56,583 --> 00:06:57,709 - Fifty. - Bucks? 113 00:06:57,709 --> 00:06:58,836 Grand. 114 00:06:58,836 --> 00:06:59,962 53 grand. 115 00:07:00,671 --> 00:07:01,922 Yeah. 116 00:07:06,552 --> 00:07:07,469 Kitty... 117 00:07:09,346 --> 00:07:11,557 - Man, you don't even own a house. - It's got a ton of short interest, 118 00:07:11,557 --> 00:07:13,392 - You got a one-year-old. - which is artificially pushing... 119 00:07:13,392 --> 00:07:14,810 - Jesus, bro. - the price down. 120 00:07:14,810 --> 00:07:17,271 - You never bet against Wall Street! - Wall Street gets it wrong all the time. 121 00:07:17,271 --> 00:07:18,814 - Look at '08. - That was a one-off, Kitty. 122 00:07:18,814 --> 00:07:20,274 These guys, they have all the money 123 00:07:20,274 --> 00:07:22,401 and the fancy degrees and the political juice in the world, 124 00:07:22,401 --> 00:07:24,611 - and they get it wrong all the time. - Are you out of your fucking mind? 125 00:07:24,611 --> 00:07:27,406 They've got the advantage, and they still get it wrong. 126 00:07:29,032 --> 00:07:31,577 No, gimme that, I'm drinking it. Even if it's 50 cents. 127 00:07:31,577 --> 00:07:32,661 It's 4 bucks. 128 00:07:32,661 --> 00:07:34,746 Well, my man just spent 53K on a penny stock. 129 00:07:34,746 --> 00:07:36,623 So, all he can afford is water. 130 00:07:36,623 --> 00:07:39,126 - You're a Wall Street guy? - Very much no. 131 00:07:39,126 --> 00:07:40,669 I'm a Wall Street guy. 132 00:07:40,669 --> 00:07:42,171 What was the stock? 133 00:07:43,422 --> 00:07:44,506 GameStop. 134 00:07:45,883 --> 00:07:47,176 The video game store. At the mall. 135 00:07:47,176 --> 00:07:50,804 - You really bought $53,000 of it? - Yeah, I don't believe it. 136 00:07:50,804 --> 00:07:52,973 I think he's fucking with us. You're fucking with us, right? 137 00:07:52,973 --> 00:07:54,683 You don't even have 50 grand. 138 00:07:54,683 --> 00:07:55,851 Let's see. 139 00:07:58,270 --> 00:07:59,396 {\an8}Oh, shit. 140 00:08:01,481 --> 00:08:03,400 How is she falling for this? How are you falling for this? 141 00:08:03,400 --> 00:08:05,777 He won't spend 5 bucks for a beer, 142 00:08:05,777 --> 00:08:09,198 but he'll put 50k in a stock that you think is a joke. 143 00:08:09,198 --> 00:08:10,782 And that's interesting to you? 144 00:08:11,658 --> 00:08:12,743 Yeah. 145 00:08:13,952 --> 00:08:15,078 It is. 146 00:08:21,043 --> 00:08:22,628 Drink your shitty beer. 147 00:08:32,095 --> 00:08:34,640 Hey! 148 00:08:36,600 --> 00:08:38,143 Bedtime's already done? 149 00:08:38,143 --> 00:08:41,522 Yeah, she was exhausted. She skipped her nap. 150 00:08:43,315 --> 00:08:44,858 How was Briggsy? 151 00:08:44,858 --> 00:08:46,318 Good. Yeah. 152 00:08:54,618 --> 00:08:56,370 You guys talk about Sara? 153 00:09:02,793 --> 00:09:04,461 You wanna sit down a minute? 154 00:09:04,461 --> 00:09:06,630 I'll feel better if I finish these first. 155 00:09:07,673 --> 00:09:09,842 No, you won't. 156 00:09:35,242 --> 00:09:36,243 Do you think I'm insane? 157 00:09:36,243 --> 00:09:37,578 Yeah. 158 00:09:38,871 --> 00:09:40,497 Sorry. About what? 159 00:09:41,665 --> 00:09:42,791 GameStop. 160 00:09:42,791 --> 00:09:45,544 The most compelling asymmetric opportunity in the market? 161 00:09:47,671 --> 00:09:49,965 - What, did Briggsy make you jumpy? - A little. 162 00:09:49,965 --> 00:09:52,092 - What was his argument? - He didn't have one. 163 00:09:52,092 --> 00:09:54,678 - Well. - He just said it was a reckless bet. 164 00:09:54,678 --> 00:09:56,263 He said "you're putting your money in the next 165 00:09:56,263 --> 00:09:57,973 - Blockbuster." - Enough. Fuck Briggsy. 166 00:09:57,973 --> 00:10:01,351 Babe, you literally know more about this damn company than you know about me. 167 00:10:01,810 --> 00:10:02,936 It's true. 168 00:10:02,936 --> 00:10:05,731 And because of you, I know more about this company than I know about myself. 169 00:10:05,731 --> 00:10:09,526 But what if I'm missing something? We can't afford to miss something. 170 00:10:10,861 --> 00:10:12,613 It's all our savings. 171 00:10:13,322 --> 00:10:14,489 Go do a video. 172 00:10:15,782 --> 00:10:17,618 I can finish these first. I'm happy to... 173 00:10:17,618 --> 00:10:19,745 Go see what the nerds have to say. 174 00:10:19,745 --> 00:10:22,414 Our Wall Street Bets people aren't nerds, Caroline. 175 00:10:22,414 --> 00:10:24,917 They're gangsters. You make a dumb case and post it, 176 00:10:24,917 --> 00:10:27,336 - they'll rip you apart. - Well, then don't make a dumb case. 177 00:10:46,480 --> 00:10:47,981 Okay, let's see what's new. 178 00:10:50,943 --> 00:10:52,986 Oh, there's a share. Okay, here we go. 179 00:10:55,906 --> 00:10:57,199 Oh shit. 180 00:11:20,556 --> 00:11:22,015 Alright... 181 00:11:22,808 --> 00:11:25,394 Just check on... See here. 182 00:11:35,696 --> 00:11:38,448 Yo, what up, everybody? Roaring Kitty here. 183 00:11:38,448 --> 00:11:41,827 I've done a few of these now, mostly on my investing methodology. 184 00:11:41,827 --> 00:11:44,413 But today I'm gonna try something a little different. 185 00:11:44,413 --> 00:11:47,833 I appreciate the feedback you guys have been leaving me by the way. 186 00:11:48,667 --> 00:11:51,503 Oh! More feedback comin' in hot. 187 00:11:51,503 --> 00:11:55,299 "Less cats." Okay. Great. 188 00:11:55,299 --> 00:11:59,887 Ah, like I was saying, what was I saying? Ah, I'm gonna try... 189 00:11:59,887 --> 00:12:02,097 Oh, and here's one from Ballz. 190 00:12:02,097 --> 00:12:03,599 "Nerd." 191 00:12:03,599 --> 00:12:05,601 And nerd is in all capitals. 192 00:12:05,601 --> 00:12:09,605 Like, okay, that's kinda mean. But okay, fair. 193 00:12:10,814 --> 00:12:12,733 "Nice shirt, Grandpa"? 194 00:12:12,733 --> 00:12:16,028 What? How old do you think I am? 195 00:12:16,028 --> 00:12:16,987 You know what? 196 00:12:16,987 --> 00:12:20,157 Thanks for the comments. We're gonna come back to them at the end. 197 00:12:20,157 --> 00:12:21,366 Here's what I wanna talk about. 198 00:12:22,576 --> 00:12:25,537 I'm gonna pick a stock and talk about why I think it's interesting. 199 00:12:25,537 --> 00:12:27,456 And that stock is... 200 00:12:28,916 --> 00:12:30,125 GameStop. 201 00:12:31,710 --> 00:12:33,629 I know it's a polarising stock and... 202 00:12:33,629 --> 00:12:35,923 some of you probably gonna tune out of the stream right now when you hear 203 00:12:35,923 --> 00:12:38,133 I'm bullish on GameStop. But I am. 204 00:12:38,133 --> 00:12:42,179 You can see it is now the biggest position by far in the Roaring Kitty portfolio. 205 00:12:42,179 --> 00:12:43,096 So... 206 00:12:43,096 --> 00:12:46,141 yeah, I think everyone else is crazy, and I think I'm right. 207 00:12:46,141 --> 00:12:49,937 But I've been wrong plenty of times in the past. So... 208 00:12:50,771 --> 00:12:54,233 So there are a lot of aspects to this bold thesis, a lot of moving parts, 209 00:12:54,233 --> 00:12:56,735 but I boil it down to what I consider the three overs: 210 00:12:56,735 --> 00:12:59,154 The digital risks seem to me to be overblown, 211 00:12:59,154 --> 00:13:02,241 the negative sentiment is overdone, you can see it with the huge short interest, 212 00:13:02,241 --> 00:13:04,201 and the value is overlooked. 213 00:13:04,201 --> 00:13:06,370 Wall Street just doesn't see it. 214 00:13:06,995 --> 00:13:08,163 Why? 215 00:13:08,163 --> 00:13:11,416 Mr Market, why? 216 00:13:12,167 --> 00:13:14,878 The hedge funds are overlooking the value in the company 217 00:13:14,878 --> 00:13:17,631 just like they overlook the people who shop there. 218 00:13:17,631 --> 00:13:20,342 They assume most people download games online now. 219 00:13:20,342 --> 00:13:24,680 {\an8}But look, 25% of gamers still buy new discs from GameStop, 220 00:13:24,680 --> 00:13:27,599 and 40% buy used games from the store. 221 00:13:27,599 --> 00:13:29,726 And the market's kinda forced my hand here. 222 00:13:29,726 --> 00:13:32,646 What more can I say? I just like the stock. 223 00:13:32,646 --> 00:13:33,730 Hey! 224 00:13:34,439 --> 00:13:35,858 Shit! 225 00:13:36,900 --> 00:13:38,569 - Did I wake you? - Please stop. 226 00:13:38,569 --> 00:13:41,488 Mr Donaldson, I need you in your bed. 227 00:13:41,488 --> 00:13:42,990 Kerin, can you please 228 00:13:42,990 --> 00:13:44,741 - make sure Mr Donaldson... - I don't need to go to bed. 229 00:13:44,741 --> 00:13:47,244 - I need a cup of coffee. - We can get you a cup of coffee. 230 00:13:47,244 --> 00:13:48,787 Kerin, coffee. 231 00:13:48,787 --> 00:13:49,913 Oh! 232 00:13:50,581 --> 00:13:51,748 Well, isn't that beautiful? 233 00:13:52,332 --> 00:13:53,458 Oh shit. 234 00:13:54,877 --> 00:13:59,673 "100% short GameStop stock (GME)"? 235 00:13:59,673 --> 00:14:01,008 It's an investment video. 236 00:14:01,008 --> 00:14:03,635 Hey, Jenny, for real, 237 00:14:03,635 --> 00:14:06,471 {\an8}I wouldn't take investment advice from a guy in a cat shirt. 238 00:14:06,471 --> 00:14:09,099 Oh, okay. Who do you take investment advice from? 239 00:14:09,099 --> 00:14:15,772 I don't have investments. And if I did, I'd listen to, like, a banker. 240 00:14:15,772 --> 00:14:17,274 Just the way they like it. 241 00:14:17,274 --> 00:14:21,236 "They." Oh boy. Here we go... 242 00:14:21,236 --> 00:14:22,446 Just never mind. 243 00:14:22,446 --> 00:14:23,864 No, no, no, please tell me. 244 00:14:23,864 --> 00:14:27,075 I'm dying to know what Luke Wilson from The Royal Tenenbaums 245 00:14:27,075 --> 00:14:29,703 thinks we should do with our $68,000 a year. 246 00:14:29,703 --> 00:14:30,829 Who from what? 247 00:14:30,829 --> 00:14:31,914 Ugly Björn Borg. 248 00:14:31,914 --> 00:14:33,081 {\an8}Okay, fine. 249 00:14:33,081 --> 00:14:36,001 {\an8}Wall Street is betting that this company is gonna fail. 250 00:14:36,001 --> 00:14:37,586 It's called shorting. 251 00:14:37,586 --> 00:14:41,173 And if it fails, well, then everybody loses their job, 252 00:14:41,173 --> 00:14:43,842 but these hedge fund assholes make a shit ton of money. 253 00:14:44,301 --> 00:14:48,180 It's bullshit. It's a bullshit way for rich people to get richer. 254 00:14:48,180 --> 00:14:49,848 How did you even find this guy? 255 00:14:49,848 --> 00:14:52,476 70,000 people have watched this video. 256 00:14:52,476 --> 00:14:54,895 He posts his balance sheets and everything. 257 00:14:54,895 --> 00:14:56,730 Wall Street Bets is going crazy over this. 258 00:14:56,730 --> 00:14:58,857 - Who? - It's an Internet forum. 259 00:15:00,734 --> 00:15:01,985 - On Reddit. - Now, see. No, no. 260 00:15:01,985 --> 00:15:04,363 I'm not gonna do this with you. The last time you brought up Reddit, 261 00:15:04,363 --> 00:15:07,115 it was just all these oil paintings of Donald Trump on horseback. 262 00:15:07,115 --> 00:15:08,909 - You liked it. - Detestable. 263 00:15:08,909 --> 00:15:11,578 - Look. - Okay, yeah. Let's take a look. 264 00:15:13,247 --> 00:15:15,624 "Shit's not a pump-and-dump 265 00:15:15,624 --> 00:15:19,002 if it never dumps, you fuckheads..." 266 00:15:19,002 --> 00:15:23,131 "Feed me your tears, I use it as anal lube on your wives." 267 00:15:23,131 --> 00:15:24,258 Why did you go to that one? 268 00:15:24,258 --> 00:15:27,803 Oh! Oh! Oh! "Strap on ur theta dildo 269 00:15:27,803 --> 00:15:31,932 - n start pounding." - Okay. Yes, that shit exists on here. 270 00:15:31,932 --> 00:15:35,727 But I also learned the difference between a delta squeeze and a gamma squeeze. 271 00:15:35,727 --> 00:15:37,729 And now everyone is talking about call options. 272 00:15:37,729 --> 00:15:39,314 Jenny, baby, 273 00:15:39,898 --> 00:15:41,275 you're never gonna find a man on there. 274 00:15:42,776 --> 00:15:44,945 And you're never gonna date Puff Daddy. 275 00:15:44,945 --> 00:15:47,364 First of all, no one has said Puff Daddy since the '90s 276 00:15:47,364 --> 00:15:49,741 and second of all, this isn't Puff Daddy. 277 00:15:50,534 --> 00:15:51,702 This is Loop Daddy. 278 00:15:52,619 --> 00:15:56,498 Okay, well, whatever Daddy he's called, he's weird looking. 279 00:15:56,498 --> 00:15:59,251 Hey, well, my guy has, what, 5 million TikTok followers. 280 00:15:59,251 --> 00:16:01,003 - How many does yours have? - I don't know. 281 00:16:01,003 --> 00:16:03,755 Quick scroll. 412. 282 00:16:03,755 --> 00:16:06,091 - Who cares? - The Internet at large. 283 00:16:06,091 --> 00:16:08,135 But hey. Least I aim high. 284 00:16:09,178 --> 00:16:10,304 I aim high. 285 00:16:46,423 --> 00:16:48,926 What up, everybody? Roaring Kitty here. 286 00:16:48,926 --> 00:16:53,889 {\an8}Yo! Yo! Yo! This price action, gettin' kind of ridiculous, am I right? 287 00:16:53,889 --> 00:16:56,183 Let's see what happens. See what happens at the end of the week. 288 00:16:56,183 --> 00:16:58,519 But it's all about the trend staying intact. 289 00:16:58,519 --> 00:17:00,479 But this, this looks sick. 290 00:17:03,982 --> 00:17:05,108 Morning, Marcos! 291 00:17:05,608 --> 00:17:08,569 Shit... Yo, what's... Hey, Brad. 292 00:17:15,786 --> 00:17:19,623 Yo, I was wondering if could I get an advance on my pay? 293 00:17:20,249 --> 00:17:24,211 I can run it up the chain, but with all the cutbacks, that's unlikely. 294 00:17:25,295 --> 00:17:27,422 Oh, hey! You could do the employee TikTok contest. 295 00:17:27,422 --> 00:17:29,883 You do a lip sync, you can win 10 labour hours. 296 00:17:29,883 --> 00:17:31,593 Yeah, man, totally. 297 00:17:32,302 --> 00:17:35,264 That's dope. I was thinkin' "Savage." 298 00:17:36,640 --> 00:17:38,600 Yeah, sure, I love it. 299 00:17:38,600 --> 00:17:41,061 Or yo, that Drake one with Lil Durk. 300 00:17:42,688 --> 00:17:43,897 That's a great one too. 301 00:17:43,897 --> 00:17:45,691 Because I know you love Lil Durk. 302 00:17:46,233 --> 00:17:47,192 C'mon. 303 00:17:47,192 --> 00:17:49,778 No, I'm gonna do Megan Thee Stallion. For sure, for sure, for sure. 304 00:17:49,778 --> 00:17:50,821 I'm a savage 305 00:17:51,530 --> 00:17:53,824 Classy, bougie, ratchet 306 00:17:53,824 --> 00:17:56,535 Sassy, moody, nasty 307 00:17:56,535 --> 00:17:58,662 Okay, mask! Mask. 308 00:17:59,788 --> 00:18:01,081 Sorry. 309 00:18:01,081 --> 00:18:03,625 Acting stupid, what was happening? 310 00:18:04,168 --> 00:18:06,170 What's happening? I'm a savage 311 00:18:06,170 --> 00:18:09,381 Huh, A man. You're a shoo-in with moves like that. 312 00:18:09,381 --> 00:18:11,300 Yo, you think so for real, though? 313 00:18:12,342 --> 00:18:14,052 That's sweet, real. 314 00:18:14,845 --> 00:18:16,180 Ten labour hours. 315 00:18:16,972 --> 00:18:18,348 Damn, it's like Christmas came early! 316 00:18:20,017 --> 00:18:21,518 I'm pullin' for ya! 317 00:18:21,518 --> 00:18:22,895 Thanks, man. 318 00:18:38,577 --> 00:18:40,829 ...only fit fake booties 319 00:18:40,829 --> 00:18:41,955 Fuck cash shit 320 00:18:45,125 --> 00:18:46,460 Fries. 321 00:18:55,010 --> 00:18:56,803 No, fuck! 322 00:18:57,971 --> 00:18:58,889 God! 323 00:18:58,889 --> 00:19:01,058 Goddamn it! Fuck! 324 00:19:01,058 --> 00:19:04,019 But first, cheers! Cheers, everybody. 325 00:19:04,019 --> 00:19:07,189 I mean, look. I know we still got a lot of bear takes out there. 326 00:19:07,189 --> 00:19:08,857 But as I dive deeper and deeper into this thing, 327 00:19:08,857 --> 00:19:10,943 it's looking increasingly compelling to me. 328 00:19:10,943 --> 00:19:14,154 And then you got the huge short interest. Now, I'm not betting on a short squeeze. 329 00:19:14,154 --> 00:19:16,490 I've been saying that the whole time. You guys have been talking about it. 330 00:19:16,490 --> 00:19:18,075 Thesis is grounded in fundamentals, but I'm not... 331 00:19:18,075 --> 00:19:19,701 But to... I mean, today, I mean, I'm... 332 00:19:19,701 --> 00:19:21,411 I mean, it's starting to feel a little squeezy, right? 333 00:19:21,411 --> 00:19:22,913 Starting to feel a little squeezy. Honk! 334 00:19:22,913 --> 00:19:24,456 I mean, hello. Okay! 335 00:19:24,456 --> 00:19:26,667 All right, all right. I need a drink. I need a drink. 336 00:19:29,086 --> 00:19:32,506 Now. A lot of you are accusing me of talking a big game. 337 00:19:32,506 --> 00:19:33,674 - Keith? - But-- 338 00:19:33,674 --> 00:19:36,718 - Babe, where are you? - Oh... Coming! 339 00:19:37,553 --> 00:19:40,138 Duh... I'm on Daddy duty tonight. I'll be right back. 340 00:20:09,168 --> 00:20:11,670 Okay. There you go. 341 00:20:14,298 --> 00:20:15,382 Sorry. 342 00:20:15,382 --> 00:20:16,925 Quick tendie break. 343 00:20:18,427 --> 00:20:19,678 Gotta love those tendies. 344 00:20:19,678 --> 00:20:21,054 Sweet, sweet tendies. 345 00:20:22,014 --> 00:20:23,599 Speaking of tendies. 346 00:20:24,641 --> 00:20:27,436 Look at this. Look at this chart. 347 00:20:28,687 --> 00:20:32,399 We go from four, to six, to seven. Now... 348 00:20:32,941 --> 00:20:33,901 ten. 349 00:20:34,484 --> 00:20:37,154 Wall Street must be seeing this, right? 350 00:20:37,154 --> 00:20:39,656 Or are we just screaming into the void? 351 00:20:39,656 --> 00:20:43,118 Hello, Mr Market. We got tendies too. 352 00:20:43,118 --> 00:20:45,537 We got tendies too. 353 00:20:47,331 --> 00:20:48,290 Maybe we are. 354 00:20:48,290 --> 00:20:53,712 They never saw the, like, 9 billion resumes I sent from 2016 to 2019. 355 00:20:53,712 --> 00:20:56,215 Or in 2009, right after I graduated college. 356 00:20:56,215 --> 00:20:59,801 I guess they were busy with that whole "market crash" thing then. 357 00:21:05,641 --> 00:21:06,475 Fuck! 358 00:21:15,526 --> 00:21:16,818 Kevin, you son of a bitch! 359 00:21:16,818 --> 00:21:18,779 You can't run with a baby. You can't run with a baby! 360 00:21:18,779 --> 00:21:21,865 - Don't take my car, man! - I fucked up your seat! 361 00:21:21,865 --> 00:21:23,492 There's no gas left. 362 00:21:25,619 --> 00:21:27,120 I know. 363 00:21:36,880 --> 00:21:38,674 How did that taste? 364 00:21:40,968 --> 00:21:43,011 Hey-oh, can I put my pants back on? 365 00:21:43,011 --> 00:21:44,096 No! 366 00:21:44,096 --> 00:21:49,518 "Choose a player and put your hand down their panties for a whole minute." 367 00:21:49,518 --> 00:21:51,061 Panties, who's got panties? 368 00:21:51,061 --> 00:21:53,313 "Two shots if they refuse." 369 00:21:53,313 --> 00:21:54,982 I mean, I got some panties. 370 00:21:56,692 --> 00:21:57,860 Bro. 371 00:22:00,863 --> 00:22:02,239 - Hello. - All right. 372 00:22:04,157 --> 00:22:05,951 - All right. - Hey, girl. 373 00:22:05,951 --> 00:22:07,452 You said two shots, right? 374 00:22:07,452 --> 00:22:08,871 Oh, c'mon. 375 00:22:10,789 --> 00:22:12,249 Fuck, all good. 376 00:22:12,249 --> 00:22:14,668 - Can someone start the timer? - I got you. I got you. 377 00:22:14,668 --> 00:22:17,087 - Should I just...? Okay. - Get in there. 378 00:22:17,087 --> 00:22:18,589 - You sure? - Yeah. 379 00:22:22,050 --> 00:22:23,385 Okay... 380 00:22:24,052 --> 00:22:26,263 Hi. 381 00:22:28,515 --> 00:22:29,892 How are you? 382 00:22:31,018 --> 00:22:32,436 Can you shut the fuck up? 383 00:22:32,436 --> 00:22:34,021 Fuck off! 384 00:22:35,230 --> 00:22:36,732 So what'd you do today? 385 00:22:36,732 --> 00:22:40,402 Well, I attended a Zoom seminar 386 00:22:40,402 --> 00:22:44,239 during which I watched two hours of TikTok. 387 00:22:47,159 --> 00:22:50,495 Oh! I purchased three shares of stock. 388 00:22:51,413 --> 00:22:52,831 Okay, what stock? 389 00:22:52,831 --> 00:22:55,626 - GameStop. - Yo, Roaring Kitty! 390 00:22:55,626 --> 00:22:57,294 C'mon. Yes, James. 391 00:22:59,087 --> 00:23:00,797 - Can I please put some pants back on? - No! 392 00:23:00,797 --> 00:23:02,591 - Sit down. - I'm three days into that shit. 393 00:23:02,591 --> 00:23:05,719 Look it. That's just, that's only from today. I don't care. 394 00:23:05,719 --> 00:23:08,180 I don't know what the fuck I'm doing. I just know I'm making money. 395 00:23:08,180 --> 00:23:09,723 I'm not sold on that. 396 00:23:09,723 --> 00:23:11,517 It's doubled since summer. 397 00:23:11,517 --> 00:23:13,977 And the more people who buy in, the higher it'll go. 398 00:23:13,977 --> 00:23:16,438 That sounds like the literal definition of a pyramid scheme. 399 00:23:17,314 --> 00:23:18,941 - That's time. - Bravo! 400 00:23:42,297 --> 00:23:46,134 Sorry, I have terrible allergies. And a killer headache. 401 00:23:46,134 --> 00:23:48,387 Could just be the music coming from next door though. 402 00:23:48,387 --> 00:23:52,224 You see your buddy Ken's up to 57 billion in short positions? 403 00:23:52,224 --> 00:23:54,226 Yeah, smart. The economy's in free fall. 404 00:23:58,438 --> 00:24:00,816 I honestly can't tell if that was you or Romeo. 405 00:24:00,816 --> 00:24:02,442 Very funny. 406 00:24:02,442 --> 00:24:05,529 I'm telling you. This is when they drag out the guillotines. 407 00:24:06,113 --> 00:24:08,240 - You're obsessed with him. - The man is an asshole. 408 00:24:08,240 --> 00:24:12,286 He stole five analysts from me. All mediocre by the way. 409 00:24:13,078 --> 00:24:14,288 Oh, and two paintings. 410 00:24:14,288 --> 00:24:16,582 - What paintings? - A Picasso and a de Kooning. 411 00:24:16,582 --> 00:24:18,083 He overpaid 500 million. 412 00:24:18,083 --> 00:24:20,294 That is my entire nut from last year. 413 00:24:20,294 --> 00:24:22,087 The man is an asshole. Just admit it. 414 00:24:22,087 --> 00:24:24,506 You're just bitter he stole those analysts. 415 00:24:24,506 --> 00:24:26,550 You seen Citadel's projected revenue? 416 00:24:26,550 --> 00:24:28,760 $7 billion. 417 00:24:28,760 --> 00:24:31,388 That's double last year. 418 00:24:31,388 --> 00:24:33,515 Hoovering up all the stimulus cheques. 419 00:24:33,515 --> 00:24:35,601 - They go straight from the retail traders - Thank you. 420 00:24:35,601 --> 00:24:37,394 right into Kenny boy's pockets. 421 00:24:37,394 --> 00:24:41,565 The man just gets away with murder. Look at what I just sent you. 422 00:24:49,239 --> 00:24:52,826 Is this a video of a man drinking his own urine because a stock went up? 423 00:24:52,826 --> 00:24:54,077 424 00:24:54,077 --> 00:24:55,704 Where did you get this? 425 00:24:55,704 --> 00:24:57,664 My analysts sent it to me. 426 00:24:57,664 --> 00:25:02,836 They call themselves apes and r-words. Retard, can they say that? 427 00:25:02,836 --> 00:25:06,965 Remarkably self-aware. They've hooked into GameStop for whatever reason. 428 00:25:06,965 --> 00:25:08,717 They think it's funny, it seems. 429 00:25:08,717 --> 00:25:10,135 I think it's funny. 430 00:25:10,135 --> 00:25:11,803 I think they think it's a good investment. 431 00:25:11,803 --> 00:25:14,181 Retail traders always lose. 432 00:25:16,016 --> 00:25:18,143 We've actually been short GameStop since 2014. 433 00:25:18,143 --> 00:25:23,190 The company is a complete disaster. They've had six CEOs in two years. 434 00:25:24,191 --> 00:25:26,693 Guess these guys are ignoring obvious secular market trends. 435 00:25:26,693 --> 00:25:29,821 Or they're... the stupidest people on earth. 436 00:25:29,821 --> 00:25:32,282 You're shorting more right now, aren't you? 437 00:25:32,282 --> 00:25:34,785 600,000 shares, maybe. 438 00:25:35,369 --> 00:25:36,995 Dumb money, man. 439 00:25:36,995 --> 00:25:38,497 I'm happy to take it. 440 00:25:47,798 --> 00:25:49,633 Listen up, retards, 441 00:25:49,633 --> 00:25:54,680 Melvin Capital has declared war on GME by shorting the stock even more. 442 00:25:54,680 --> 00:25:58,767 {\an8}This is our call to activate diamond hands, my fellow warriors. 443 00:25:58,767 --> 00:26:03,772 {\an8}We will not let the gay bears defeat us. We are on a mission to the fucking moon. 444 00:26:03,772 --> 00:26:06,817 {\an8}This is one that is bigger than your personal gains. 445 00:26:06,817 --> 00:26:09,444 {\an8}More than just tendies for a new Lambo. 446 00:26:09,444 --> 00:26:13,615 {\an8}This is our chance to rise up together. To stick it to the big man. 447 00:26:13,615 --> 00:26:15,868 {\an8}Squeezing Melvin by the fucking balls 448 00:26:15,868 --> 00:26:18,787 {\an8}with the collective power of diamond handing autists. 449 00:26:19,371 --> 00:26:22,791 Wall Street Bets I thought were a bunch of idiots just throwing money at a stock 450 00:26:22,791 --> 00:26:24,501 because they thought it was funny. 451 00:26:24,501 --> 00:26:25,836 I was wrong. 452 00:26:25,836 --> 00:26:28,380 Now I see what Wall Street Bets really is. 453 00:26:28,380 --> 00:26:31,425 - It is a revolution. - This is one of those rare moments 454 00:26:31,425 --> 00:26:33,552 where Wall Street are the ones getting screwed over. 455 00:26:33,552 --> 00:26:35,220 And when we decide we're hungry, 456 00:26:35,220 --> 00:26:37,723 there is very little the rich can do to stop us 457 00:26:37,723 --> 00:26:39,766 - from beating them. - It's a GameStop to stop the game. 458 00:26:39,766 --> 00:26:42,060 - Power to the people. - I'm jerking off right now. 459 00:26:42,060 --> 00:26:43,103 Jerking off right now. 460 00:26:43,103 --> 00:26:47,691 So welcome aboard, grab your peanuts, and get the fuck in, retard. 461 00:26:47,691 --> 00:26:49,735 Ho, ho, ho! 462 00:26:49,735 --> 00:26:54,489 What up, everybody? Merry Christmas, Happy New Year's, happy holidays. 463 00:26:55,365 --> 00:26:57,701 2020... See ya. 464 00:26:57,701 --> 00:27:00,829 2020 has been a very rough year for my family too. 465 00:27:00,829 --> 00:27:03,916 So this GameStop news has been a bit of a bright spot. 466 00:27:04,583 --> 00:27:06,502 Look at this, I mean, where it's at. 467 00:27:06,502 --> 00:27:10,214 {\an8}It's a five bagger from where it was over the summer. 468 00:27:10,214 --> 00:27:14,301 You don't often see a thesis play out like this. 469 00:27:14,301 --> 00:27:15,344 So we gotta-- 470 00:27:15,344 --> 00:27:17,930 We can't take it for granted, right? We gotta appreciate it. 471 00:27:18,514 --> 00:27:21,391 Thank you, Santa. Right. 472 00:27:22,809 --> 00:27:25,812 I wanted to say cheers all of you. 473 00:27:25,812 --> 00:27:28,065 You're why I'm here in the first place. 474 00:27:30,025 --> 00:27:33,195 It's fun to talk about. I mean, I figure, if I worked at a hedge fund, 475 00:27:33,195 --> 00:27:34,821 I'd compare notes with my colleagues. But I don't. 476 00:27:34,821 --> 00:27:36,823 I'm stuck at home like you guys. So... 477 00:27:37,533 --> 00:27:39,368 {\an8}I believe in this stock. 478 00:27:39,368 --> 00:27:41,828 {\an8}And I believe in this community. 479 00:27:43,664 --> 00:27:48,460 I'll be honest, it's been kind of a shitty year. 480 00:27:50,170 --> 00:27:54,466 For a lot of people. Lotta people lost people the past 12 months. I did too. 481 00:27:54,466 --> 00:27:56,593 My sister, Sara. 482 00:28:05,769 --> 00:28:07,646 I don't talk about it much. 483 00:28:09,439 --> 00:28:11,400 But it felt right to tell you. 484 00:28:11,400 --> 00:28:13,735 We've been through so much together. 485 00:28:13,735 --> 00:28:16,864 You've made me feel a part of something, something big. 486 00:28:17,823 --> 00:28:20,659 {\an8}So, Merry Christmas. Cheers. 487 00:28:54,526 --> 00:28:55,652 I like your car. 488 00:28:58,155 --> 00:28:59,364 It's a classic. 489 00:28:59,364 --> 00:29:01,033 - '95. - Yes! 490 00:29:01,033 --> 00:29:02,910 Sadly, it's a gas-guzzler. 491 00:29:02,910 --> 00:29:05,412 Yeah, yup, this one too. 492 00:29:06,371 --> 00:29:10,417 But she's such a beauty I couldn't stand to trade her. 493 00:29:10,417 --> 00:29:12,085 '96 Honda Accord? 494 00:29:12,753 --> 00:29:15,506 2003. Not quite a classic. 495 00:29:23,889 --> 00:29:27,976 It's kinda weird to talk to someone and see their whole face. Right? 496 00:29:27,976 --> 00:29:29,520 It's been so long. 497 00:29:30,354 --> 00:29:34,107 I... I work at a hospital, you could probably tell. 498 00:29:34,107 --> 00:29:35,359 Essential worker. 499 00:29:35,943 --> 00:29:37,361 Thank you for everything you do. 500 00:29:37,361 --> 00:29:38,612 Oh, you're very welcome. 501 00:29:50,123 --> 00:29:51,542 Hey... 502 00:29:52,668 --> 00:29:54,086 Have a good night. 503 00:29:55,003 --> 00:29:56,129 Cool. 504 00:29:56,922 --> 00:29:58,423 Safe travels. 505 00:30:15,107 --> 00:30:17,276 Remember when you were just making fun of me 506 00:30:17,276 --> 00:30:20,696 - and now you're literally obsessed. - No, I don't recall. 507 00:30:20,696 --> 00:30:23,740 - How much are you up? - 948. 508 00:30:23,740 --> 00:30:26,869 Stock dipped a little, it was like 2,000 before Christmas. 509 00:30:26,869 --> 00:30:28,495 Maybe you should sell. 510 00:30:30,664 --> 00:30:32,791 No. It's not about the money. 511 00:30:32,791 --> 00:30:34,710 The stock market is not about the money? 512 00:30:34,710 --> 00:30:37,379 No. You just gotta read some of the stuff on here. 513 00:30:37,963 --> 00:30:41,675 Never understood why my dad was so pissed off about this whole thing, 514 00:30:41,675 --> 00:30:42,801 but now I do. 515 00:30:44,386 --> 00:30:45,888 I told you about his store, right? 516 00:30:45,888 --> 00:30:47,347 Costco? 517 00:30:48,015 --> 00:30:49,516 Shopko. 518 00:30:49,516 --> 00:30:51,185 It was like, this like... 519 00:30:52,019 --> 00:30:53,812 big chain in our area. 520 00:30:54,646 --> 00:30:58,525 My dad, he worked his way all the way up from bag boy to general manager. 521 00:30:59,276 --> 00:31:01,904 Then one of these Wall Street funds came in, bought it, 522 00:31:01,904 --> 00:31:06,450 and vampire-sucked all the money out of it and then declared bankruptcy. 523 00:31:06,450 --> 00:31:07,618 Fuck. 524 00:31:08,744 --> 00:31:09,828 Yeah. 525 00:31:11,538 --> 00:31:14,583 He lost his pension. Everything. 526 00:31:15,918 --> 00:31:18,795 It's why he had to work at Pick 'n fuckin' Save till the day he died. 527 00:31:18,795 --> 00:31:21,256 And now that's why I'm up to my ass in debt. 528 00:31:22,591 --> 00:31:25,260 And these fuckers are trying to do the same thing to GameStop. 529 00:31:26,720 --> 00:31:27,888 Fuck 'em. 530 00:31:29,515 --> 00:31:30,849 Fuck 'em all. 531 00:31:52,496 --> 00:31:54,373 Wait, look. 532 00:31:54,373 --> 00:31:55,791 Look at this. 533 00:31:55,791 --> 00:31:58,669 - This guy wants to CashApp me $100 - Shut the fuck up. 534 00:31:58,669 --> 00:32:02,714 to send him a selfie. Or 500 if I live chat him from a bubble bath. 535 00:32:02,714 --> 00:32:04,633 Yes! Yes, we should do it. 536 00:32:04,633 --> 00:32:06,844 - What? - Yes, we do it. 537 00:32:06,844 --> 00:32:09,304 And then put the money into GameStop. 538 00:32:09,847 --> 00:32:13,600 - Who am I talking to right now? - C'mon, bitch, let's go get a tub. 539 00:32:27,406 --> 00:32:30,617 Your entire business is kids spending their lunch money on random stocks. 540 00:32:30,617 --> 00:32:32,411 They come to you because it's free. 541 00:32:32,411 --> 00:32:36,540 {\an8}But if you don't charge a commission on their trades, 542 00:32:36,540 --> 00:32:38,458 how do you make money? 543 00:32:39,501 --> 00:32:45,090 The idea for Robinhood really came out of the Occupy Wall Street movement. 544 00:32:45,090 --> 00:32:46,800 All those people with no way of getting in. 545 00:32:46,800 --> 00:32:49,136 Is that what Occupy was about? 546 00:32:49,136 --> 00:32:51,930 I mean, were they trying to get in or... 547 00:32:51,930 --> 00:32:54,141 So we said, it's not enough to occupy. 548 00:32:54,141 --> 00:32:57,102 - We need to democratise Wall Street. - Nat, I'm not sure you know this, 549 00:32:57,102 --> 00:32:58,562 but Baiju and I are both immigrants. 550 00:32:58,562 --> 00:33:00,397 I was born in Bulgaria, 551 00:33:00,397 --> 00:33:03,066 and Baiju's parents immigrated from India to the Deep South. 552 00:33:03,942 --> 00:33:07,487 Can you imagine growing up in rural Virginia with a name like 553 00:33:07,487 --> 00:33:09,740 Baiju Prafulkumar Bhatt? 554 00:33:10,741 --> 00:33:13,994 We created commission-free trading so that anyone can get in the game. 555 00:33:13,994 --> 00:33:17,539 You don't even need a bank account. People have really responded. 556 00:33:17,539 --> 00:33:21,502 We've added 5 million users in the last six months, 557 00:33:21,502 --> 00:33:24,254 - for a total of... - Close to 20 at this point. Million. 558 00:33:24,254 --> 00:33:27,341 So, you're one of these tech companies that's exploded growth-wise, 559 00:33:27,341 --> 00:33:28,509 but doesn't make any money. 560 00:33:28,509 --> 00:33:30,344 - We make money. - But how? 561 00:33:30,344 --> 00:33:33,347 - If you don't charge commission then... - From interest on people's accounts. 562 00:33:33,347 --> 00:33:34,932 But your users are mostly young. 563 00:33:34,932 --> 00:33:37,100 So, how much money can they really be keeping 564 00:33:37,100 --> 00:33:39,353 - in their account? - There's also payment for order flow. 565 00:33:39,353 --> 00:33:40,270 What's that? 566 00:33:40,270 --> 00:33:43,148 We prefer the term "stock order routing." 567 00:33:43,148 --> 00:33:45,108 When you buy or sell a stock on our app, 568 00:33:45,108 --> 00:33:47,903 we send your order to market makers, who process the order. 569 00:33:47,903 --> 00:33:50,280 They pay us a tiny rebate on every trade. 570 00:33:50,280 --> 00:33:52,074 - Tiny. - But it adds up. 571 00:33:52,074 --> 00:33:53,742 We should really get back to how we... 572 00:33:53,742 --> 00:33:55,869 - started our company. - What market maker do you work with? 573 00:33:55,869 --> 00:33:58,205 A few. Citadel Securities mostly. 574 00:33:58,205 --> 00:34:00,582 Ken Griffin's firm? Isn't that a hedge fund? 575 00:34:00,582 --> 00:34:04,169 Well, Ken Griffin's hedge fund is called Citadel. 576 00:34:04,169 --> 00:34:06,839 But Citadel Securities is a completely different company. 577 00:34:06,839 --> 00:34:08,632 Also owned by Ken Griffin? 578 00:34:10,050 --> 00:34:11,134 All right, 579 00:34:11,802 --> 00:34:14,471 we weren't gonna do this, but we'll give you a scoop. 580 00:34:15,138 --> 00:34:16,974 Off the record for now. 581 00:34:17,641 --> 00:34:18,684 Okay. 582 00:34:20,018 --> 00:34:21,937 We're looking to IPO soon. 583 00:34:23,813 --> 00:34:26,315 Damn. Okay. 584 00:34:27,442 --> 00:34:28,694 That's big. 585 00:34:54,469 --> 00:34:56,388 - Okay, don't say the bad word. - Be humble 586 00:34:57,097 --> 00:34:58,682 Sit down 587 00:35:00,350 --> 00:35:02,936 Sit down, be humble 588 00:35:03,562 --> 00:35:04,855 - Sit down - Sit down 589 00:35:11,737 --> 00:35:14,489 - Be humble, sit down, lil bitch - Kev, please. 590 00:35:14,489 --> 00:35:16,825 - Well, sit down, lil bitch - Your father needs to concentrate. 591 00:35:16,825 --> 00:35:20,245 Drove long-haul for forty years. I don't need to concentrate. 592 00:35:20,245 --> 00:35:22,664 Fine. I need to concentrate. 593 00:35:22,664 --> 00:35:24,917 What do you need to concentrate about? 594 00:35:25,501 --> 00:35:26,335 What? 595 00:35:26,335 --> 00:35:28,128 I thought they were veering over into our lane. 596 00:35:28,128 --> 00:35:30,881 Nobody was veering, Elaine. It's okay. 597 00:35:34,843 --> 00:35:36,887 You talk to any of the girls at the clinic? 598 00:35:36,887 --> 00:35:38,597 A few of them have called. 599 00:35:41,975 --> 00:35:43,310 I miss it. 600 00:35:43,310 --> 00:35:45,145 Boys, never retire. 601 00:35:45,812 --> 00:35:47,481 Keith, never retire. 602 00:35:48,148 --> 00:35:50,150 Kevin, if you ever get a job, never retire. 603 00:35:50,150 --> 00:35:51,235 I have a job! 604 00:35:51,235 --> 00:35:53,529 Yet you still live with Ma and Dad. 605 00:35:53,529 --> 00:35:57,157 Oh, you're some big professional now cuz you're fucking king dork on YouTube? 606 00:35:57,157 --> 00:35:58,825 Just one of many dorks. 607 00:35:58,825 --> 00:36:00,786 This asshole thinks he's Jimmy Buffett now. 608 00:36:00,786 --> 00:36:02,412 - C'mon. - Warren Buffett. 609 00:36:02,412 --> 00:36:04,456 - Warren Buffett. - See? 610 00:36:04,456 --> 00:36:07,459 You're not either of the Buffetts, Kitty! 611 00:36:10,712 --> 00:36:11,964 You're Ballz? 612 00:36:15,259 --> 00:36:16,969 - Hey! - Ah, good Christ. 613 00:36:16,969 --> 00:36:17,886 - Fellas. - Ma. 614 00:36:18,470 --> 00:36:20,347 Drop! Stop it! 615 00:36:24,810 --> 00:36:25,978 Door Dash is not a job. 616 00:36:27,145 --> 00:36:28,188 MassMutual's a job. 617 00:36:28,188 --> 00:36:30,440 - A job's got business cards. - Door Dash is a job. 618 00:36:30,440 --> 00:36:31,733 Okay, I'm a first responder. 619 00:36:31,733 --> 00:36:34,528 And second of all, Ma, nobody uses business cards anymore. 620 00:36:36,280 --> 00:36:38,198 We're proud of you, honey. 621 00:36:39,241 --> 00:36:40,492 Get a room. 622 00:37:00,387 --> 00:37:03,390 Take your time. I'll be in the car. 623 00:37:15,569 --> 00:37:16,904 Yeah. 624 00:37:25,495 --> 00:37:26,788 Love you. 625 00:37:50,854 --> 00:37:52,397 It has been dragging on. 626 00:37:52,397 --> 00:37:54,733 Honestly, I don't know when we'll be able to start demo 627 00:37:54,733 --> 00:37:56,568 because local ordinances are a nightmare. 628 00:37:56,568 --> 00:37:59,821 My heart bleeds for you. Having to borrow a tennis court. 629 00:37:59,821 --> 00:38:01,448 "Borrower is slave to the lender." 630 00:38:01,448 --> 00:38:02,699 Is that Buffett? 631 00:38:02,699 --> 00:38:04,576 It's the Bible. Proverbs. 632 00:38:04,576 --> 00:38:05,869 My Grandpa Melvin used to say it. 633 00:38:05,869 --> 00:38:07,579 When he was starting his convenience store, 634 00:38:07,579 --> 00:38:08,830 he refused to borrow one dollar. 635 00:38:08,830 --> 00:38:09,957 It was a point of pride. 636 00:38:09,957 --> 00:38:11,750 Ah yes, your humble beginnings. 637 00:38:11,750 --> 00:38:15,879 "Grandpa Melvin" Capital, now with 16 billion under management. 638 00:38:16,463 --> 00:38:19,132 Better than "Citadel." You sound like you're preparing for war. 639 00:38:19,132 --> 00:38:20,259 I'm a man of the people. 640 00:38:20,259 --> 00:38:21,468 You rented out a resort, 641 00:38:21,468 --> 00:38:24,888 relocated your entire firm here so you could stay open during lockdown. 642 00:38:24,888 --> 00:38:28,141 Says the man who flew his whole firm down private just for a party. 643 00:38:28,141 --> 00:38:30,060 And anyway, what kind of company shuts down 644 00:38:30,060 --> 00:38:31,937 just because the government tells them to? 645 00:38:31,937 --> 00:38:34,147 All the ones in your short portfolio. 646 00:38:34,147 --> 00:38:35,399 And yours. 647 00:38:36,191 --> 00:38:38,735 {\an8}-All except for one actually. - Which one? 648 00:38:38,735 --> 00:38:40,696 - GameStop. - How? 649 00:38:40,696 --> 00:38:43,365 They sell computer mouses. Mice? 650 00:38:43,365 --> 00:38:45,534 They claim it makes them an essential business. 651 00:38:45,534 --> 00:38:48,120 That is the smartest dumbest thing I've ever heard. 652 00:38:48,120 --> 00:38:49,246 I know, it's actually a fun one. 653 00:38:49,246 --> 00:38:53,709 The revenue's in the toilet. 632 million net loss last year. 654 00:38:53,709 --> 00:38:56,753 They'd be better off just burning the whole company down. 655 00:38:56,753 --> 00:38:59,923 The stock though, it has been volatile. It's been up. 656 00:38:59,923 --> 00:39:02,509 - Buybacks? - Retail traders. 657 00:39:03,594 --> 00:39:04,678 Bro. I don't have it, bro. 658 00:39:04,678 --> 00:39:05,804 - Damn, brother. - Sorry, man. 659 00:39:05,804 --> 00:39:07,306 - Yeah, yeah, yeah. - Have a good one, bro. 660 00:39:07,306 --> 00:39:08,307 - Yo, stay up though! - Yeah. 661 00:39:08,307 --> 00:39:09,725 Aight, bro. Aight. 662 00:39:15,397 --> 00:39:17,024 I'm gonna put these back real quick. 663 00:39:24,531 --> 00:39:25,699 Hey, Marcos. 664 00:39:26,658 --> 00:39:27,826 Yes, Bradley? 665 00:39:29,870 --> 00:39:31,663 I... I love how you engaged with that customer, 666 00:39:31,663 --> 00:39:33,957 but we really wanna close those pre-owned sales. 667 00:39:33,957 --> 00:39:35,334 The margin's more than double. 668 00:39:35,334 --> 00:39:36,877 Oh shit, double. 669 00:39:36,877 --> 00:39:38,795 Yeah, you didn't do any of the five prongs, dude: 670 00:39:38,795 --> 00:39:42,341 Pre-orders. Reward-card subscriptions. Used sales. New sales. Trade-ins. 671 00:39:42,341 --> 00:39:43,926 Yeah, I mean, when I was a 16-year-old gamer, 672 00:39:43,926 --> 00:39:46,053 all I wanted was a reward-card subscription. 673 00:39:46,053 --> 00:39:49,389 $5 cash back monthly, 20 points for every dollar spent... 674 00:39:49,973 --> 00:39:51,600 - Don't get me started. - A lot of really smart people 675 00:39:51,600 --> 00:39:53,227 {\an8}in corporate put this plan together. 676 00:39:53,227 --> 00:39:55,854 {\an8}Yeah, but any of them ever played a video game? 677 00:39:55,854 --> 00:39:58,774 {\an8}It doesn't matter, Marcos, because they own our asses. 678 00:39:58,774 --> 00:40:01,944 Yo, they don't own my ass, so. 679 00:40:02,486 --> 00:40:03,570 They do, 680 00:40:03,570 --> 00:40:05,030 and they always will. 681 00:40:08,116 --> 00:40:09,159 Mask. 682 00:40:11,078 --> 00:40:12,329 Hey, Bradley. 683 00:40:15,457 --> 00:40:17,543 You ever heard of a short squeeze? 684 00:40:25,300 --> 00:40:27,094 Is that a sexual thing? 685 00:40:28,929 --> 00:40:30,305 No. 686 00:40:31,723 --> 00:40:33,141 Oh, yeah! 687 00:40:33,141 --> 00:40:34,226 {\an8}Here's what's going on. 688 00:40:34,226 --> 00:40:35,644 {\an8}Late last year, 689 00:40:35,644 --> 00:40:40,440 {\an8}hedge funds started shorting stock in the retail store GameStop. 690 00:40:40,440 --> 00:40:44,027 Meaning they had bet against it and needed it to drop in price 691 00:40:44,027 --> 00:40:47,823 for their investments to be successful. Now unfortunately for the hedge funds, 692 00:40:47,823 --> 00:40:53,370 small investors started buying the stock led by something called Wall Street Bets, 693 00:40:53,370 --> 00:40:57,040 {\an8}a popular, juvenile, foul-mouthed Reddit page. 694 00:40:57,040 --> 00:40:58,876 And when Wall Street Bets noticed 695 00:40:58,876 --> 00:41:02,546 that hedge funds had taken a large short position in GameStop stock, 696 00:41:02,546 --> 00:41:05,382 they decided to punish the Wall Street big boys 697 00:41:05,382 --> 00:41:08,218 and launched a coordinated buying spree. 698 00:41:08,844 --> 00:41:11,722 {\an8}The revolutionaries on Reddit are spanking Wall Street's ass. 699 00:41:11,722 --> 00:41:17,936 {\an8}GameStop shares absolutely going nuts. I think it was up over 70% at one point. 700 00:41:17,936 --> 00:41:19,897 - Massive short squeeze, - Show me... 701 00:41:19,897 --> 00:41:22,649 - closing there, with a gain of 51% - the tendiesss! 702 00:41:22,649 --> 00:41:24,610 after traders on message boards... 703 00:41:28,113 --> 00:41:29,448 What? 704 00:41:29,448 --> 00:41:34,453 Happy Wednesday! Happy hump day! Gee... look at this! 705 00:41:34,453 --> 00:41:35,871 Look at this shit! 706 00:41:35,871 --> 00:41:39,082 A 90% increase in one day? In one fucking day! 707 00:41:39,082 --> 00:41:42,711 We're goin' to the mooooon. 708 00:41:45,714 --> 00:41:48,258 Okay, now, if you've been watching this price action, 709 00:41:48,258 --> 00:41:49,426 this is what I'm talking about. 710 00:41:49,426 --> 00:41:51,512 Yeah, but you can really feel that panic from Wall Street, right. 711 00:41:51,512 --> 00:41:53,889 When they start... we're starting to feel a little squeeze. Starting to feel it. 712 00:41:53,889 --> 00:41:55,432 You're starting to really feel a little squeeze. 713 00:41:55,432 --> 00:41:58,227 I need a drink. I need a drink. I know we all drinking tonight. 714 00:41:58,227 --> 00:41:59,770 We fucking did it! 715 00:41:59,770 --> 00:42:02,564 We started from the bottom and now we're here! 716 00:42:03,732 --> 00:42:05,943 Let's raise a glass 717 00:42:05,943 --> 00:42:09,863 to a great company that's undervalued, cheers. 718 00:42:10,447 --> 00:42:14,076 Soon may the tendiemen come... Show me the tendies. Show me the tendies. 719 00:42:14,076 --> 00:42:15,327 I got 'em right here. 720 00:42:15,327 --> 00:42:18,705 Show me the tendies. I just gotta... I just gotta dip. 721 00:42:18,705 --> 00:42:20,499 I just gotta... I just gotta dip. 722 00:42:29,424 --> 00:42:31,051 11 fucking million dollars? 723 00:42:31,051 --> 00:42:32,010 What the fuck! 724 00:42:32,010 --> 00:42:34,763 - Oh, language. The baby's here. - What are you gonna do? 725 00:42:34,763 --> 00:42:37,057 Get a Ferrari? A Lambo? 726 00:42:37,057 --> 00:42:38,809 Caroline, you're gonna ask for a big diamond, right? 727 00:42:38,809 --> 00:42:40,185 I have a diamond. 728 00:42:40,185 --> 00:42:42,646 Keith, you get a fucking diamond! If I were you, I'd look like 729 00:42:42,646 --> 00:42:45,232 - DJ Khaled right now. - Kev! It's not real. 730 00:42:45,232 --> 00:42:46,859 I mean, it's real, but it's just paper. 731 00:42:46,859 --> 00:42:49,945 Just on paper! You're gonna sell, right? 732 00:42:49,945 --> 00:42:51,238 - No! - Maybe. 733 00:42:51,780 --> 00:42:53,532 I mean, I don't know. 734 00:42:54,575 --> 00:42:57,995 - We... we haven't talked about it. - What the fuck is wrong with you? 735 00:42:57,995 --> 00:43:01,248 I'm riding Mom's bike every day to Dorchester to drop off cheeseburgers 736 00:43:01,248 --> 00:43:02,708 because you won't let me use your fucking car. 737 00:43:02,708 --> 00:43:04,877 And you're mister "I won't sell and take millions of dollars." 738 00:43:04,877 --> 00:43:07,212 And, well, what you do with your life is your choice. 739 00:43:07,212 --> 00:43:10,132 You think I wanted to get laid off from Dick's during a global pandemic? 740 00:43:10,132 --> 00:43:13,343 I love those sneakers, man. I loved that store. I love Dick's. 741 00:43:13,343 --> 00:43:16,430 - Mom's bike doesn't even have gears. - We don't know if it's reached the top. 742 00:43:16,430 --> 00:43:19,349 The stock jumped like 23% yesterday. 743 00:43:19,349 --> 00:43:21,226 - Double from Friday's close. - But he's right. 744 00:43:21,226 --> 00:43:23,604 I mean, 11 million dollars is a lot of fucking dough. 745 00:43:23,604 --> 00:43:24,688 - Thank you! - Okay, yes, 746 00:43:24,688 --> 00:43:27,983 but since Ryan Cohen joined the board, the... 747 00:43:27,983 --> 00:43:29,318 This fucking guy. 748 00:43:29,318 --> 00:43:31,653 ...got a 2 billion market cap. I mean, could it go pff? Yeah. 749 00:43:31,653 --> 00:43:34,698 But that's not what I'm seeing. That's not what I'm seeing, Kev. 750 00:43:35,782 --> 00:43:37,534 Kev? You there? 751 00:43:40,162 --> 00:43:41,288 Did he hang up? 752 00:43:41,997 --> 00:43:43,332 Yeah. 753 00:43:53,842 --> 00:43:55,719 Fuck, I think hold. 754 00:43:59,097 --> 00:44:00,057 Girl, you gotta sell. 755 00:44:00,057 --> 00:44:01,725 I'm not selling. 756 00:44:01,725 --> 00:44:02,935 How much are you up? 757 00:44:02,935 --> 00:44:05,562 58,000 and some change. 758 00:44:07,481 --> 00:44:09,816 Baby girl, what the fuck? 759 00:44:09,816 --> 00:44:11,944 You need to get out while you can. 760 00:44:11,944 --> 00:44:14,613 - Don't be an idiot. - You remember red headband guy. 761 00:44:14,613 --> 00:44:18,116 He's worth 11 million dollars. And he's not selling. 762 00:44:18,116 --> 00:44:20,160 - No fucking way. - Yes fucking way. 763 00:44:20,160 --> 00:44:22,788 This is what I'm telling you. Diamond hands. 764 00:44:23,956 --> 00:44:27,501 Diamond hands. You hold the line no matter what the market does. 765 00:44:27,501 --> 00:44:28,919 No matter what Wall Street says. 766 00:44:28,919 --> 00:44:30,796 What happens when everyone else sells first 767 00:44:30,796 --> 00:44:33,715 and before you get out you've lost all your money? 768 00:44:33,715 --> 00:44:35,467 Are there any volunteers? 769 00:44:35,467 --> 00:44:37,344 - I'm... - Anyone? 770 00:44:37,344 --> 00:44:39,555 - We're gonna hold the line. - C'mon. 771 00:44:39,555 --> 00:44:41,682 - Someone has to go first. - Okay, yeah. I'll do it. 772 00:44:47,062 --> 00:44:48,605 Here we go everyone. 773 00:44:48,605 --> 00:44:51,608 The first Covid vaccine at Pittsburgh Presbyterian. 774 00:44:53,151 --> 00:44:54,528 Fuck! Fuck! 775 00:44:54,528 --> 00:44:58,532 Fuck! Guys, we need your help. What should we do? 776 00:44:59,783 --> 00:45:03,620 So listen, my girl bought in under 20 and now it is over 60. 777 00:45:03,620 --> 00:45:05,539 So like, should she sell? 778 00:45:05,539 --> 00:45:07,833 On the one hand, she has principles. 779 00:45:08,876 --> 00:45:12,254 On the other, she has 100k in student debt. So... 780 00:45:12,254 --> 00:45:15,007 One way you could think about the comparison between 781 00:45:15,007 --> 00:45:17,634 Marxism and Utilitarian tradition 782 00:45:17,634 --> 00:45:21,346 is that they both have a micro story and a macro story. 783 00:45:21,346 --> 00:45:23,724 When you think of Utilitarian tradition... 784 00:45:23,724 --> 00:45:28,145 The only thing that would convince her to sell is if Roaring Kitty sold. 785 00:45:29,354 --> 00:45:31,773 So... Where my pussy at? 786 00:45:31,773 --> 00:45:34,860 You have the micro story for the Pareto principle 787 00:45:34,860 --> 00:45:37,613 for how each individual action will go. 788 00:45:38,447 --> 00:45:41,825 - But you also have a macro story. - Where my pussy at? Where my pussy at? 789 00:45:41,825 --> 00:45:43,202 Where my pussy at?! 790 00:45:43,202 --> 00:45:47,247 - Sorry. - Where my pussy aaaaatttt?! 791 00:45:47,247 --> 00:45:48,790 I'm so sorry. 792 00:45:48,790 --> 00:45:52,169 Hey, hey, where my pussy at? Ha! 793 00:45:52,169 --> 00:45:55,047 - Where is my pussy at? - It's not in here. 794 00:46:15,984 --> 00:46:17,653 Whoa, 795 00:46:18,403 --> 00:46:20,280 wait, listen, hold on. 796 00:46:21,657 --> 00:46:25,327 "Future generations will look back and say 'Good men stood here, 797 00:46:25,327 --> 00:46:28,038 good men fought, and died on this ground... 798 00:46:28,038 --> 00:46:32,709 as they point to a TradingView daily chart of GME zoomed in on January.' 799 00:46:33,377 --> 00:46:35,045 Since the spawn of the stonkmarket, 800 00:46:35,045 --> 00:46:37,673 two classes of people have been pitted against each other..." 801 00:46:37,673 --> 00:46:42,261 "Eternal enemies, forever forced and fated to combat: lions and hyenas." 802 00:46:42,261 --> 00:46:46,056 "These lions... these Wall Street hedge funds have it all. 803 00:46:46,056 --> 00:46:47,307 Billions of dollars, 804 00:46:47,307 --> 00:46:52,187 bailouts for reckless trades, these dirty fucking criminal bastards." 805 00:46:52,187 --> 00:46:56,942 Yup, these fucking motherfuckers. 806 00:46:56,942 --> 00:46:58,527 "And then there's us. 807 00:46:58,527 --> 00:47:03,198 The working man, the average Joe. What do we have? 808 00:47:03,782 --> 00:47:06,577 What the fuck do we have? 809 00:47:06,577 --> 00:47:08,662 They literally call us 'dumb money.'" 810 00:47:08,662 --> 00:47:10,497 "These lions, these hedge fund guys, 811 00:47:10,497 --> 00:47:12,499 were born with silver spoons in their mouths. 812 00:47:12,499 --> 00:47:14,126 The top 1% of the 1%. 813 00:47:14,126 --> 00:47:17,796 They have massive bank accounts, eat medium rare Grade A Wagyu steak." 814 00:47:17,796 --> 00:47:20,174 What the fuck is that? That sounds delicious. 815 00:47:20,174 --> 00:47:22,551 "With truffle shavings for lunch." That's fuck! 816 00:47:22,551 --> 00:47:24,428 "They frequent the finest strip clubs. 817 00:47:24,428 --> 00:47:26,597 They have blow and escorts on their yacht parties." 818 00:47:26,597 --> 00:47:28,515 Why do we hate these guys? 819 00:47:28,515 --> 00:47:30,559 "Then you know what they will tell these escorts?" 820 00:47:30,559 --> 00:47:32,728 - What's an escort? - Stop listening! 821 00:47:32,728 --> 00:47:37,024 "When the smoking hot blonde asks them, 'Like, how do you have so much money?'" 822 00:47:37,941 --> 00:47:42,779 "You know what they say? They say 'Ha, dumb money, babe. Dumb money.'" 823 00:47:44,990 --> 00:47:46,700 Something's burning. 824 00:47:47,826 --> 00:47:50,287 Oh... damn it. 825 00:47:50,287 --> 00:47:52,122 - Shit! - You said "shit". 826 00:48:00,964 --> 00:48:05,052 "Last, the GME trade is about class warfare. Plain and simple. 827 00:48:05,761 --> 00:48:09,014 We may be hyenas, yes. But guess what? 828 00:48:09,014 --> 00:48:12,351 You put enough of us together, and we can destroy a lion." 829 00:48:13,519 --> 00:48:15,604 It's on, motherfuckers! 830 00:48:18,607 --> 00:48:20,859 Aw, we coming for y'all. 831 00:48:20,859 --> 00:48:22,778 Y'all better get ready. 832 00:48:22,778 --> 00:48:24,029 We fucking coming for you. 833 00:48:24,029 --> 00:48:26,740 That is some nerdy shit, man. 834 00:48:27,407 --> 00:48:30,077 My brother is a fucking nerd. 835 00:48:36,416 --> 00:48:38,460 Fuck! 836 00:48:44,132 --> 00:48:46,802 Counting down from 5 and then I'm coming back in there. 837 00:48:46,802 --> 00:48:48,887 I don't think you want that. 838 00:48:50,514 --> 00:48:51,390 5. 839 00:48:52,015 --> 00:48:53,767 - 4. - 3. 840 00:48:53,767 --> 00:48:55,477 2. 841 00:48:56,311 --> 00:48:57,604 Thank you. 842 00:48:57,604 --> 00:48:59,439 - How was your day? - Long. 843 00:48:59,439 --> 00:49:04,027 It's so hard to keep them focused on Zoom school. They're just not into it. 844 00:49:04,903 --> 00:49:06,530 How was your day? 845 00:49:06,530 --> 00:49:07,698 Good. 846 00:49:09,992 --> 00:49:12,452 You're not worried about the short squeeze thing? 847 00:49:12,452 --> 00:49:14,538 The dam'll break next week. 848 00:49:14,538 --> 00:49:16,999 A few of them will decide it's gone high enough, they'll cash out, 849 00:49:16,999 --> 00:49:20,210 the rest will follow, whole thing will come crashing down. 850 00:49:20,210 --> 00:49:23,380 I can't think of the last short squeeze that actually worked. 851 00:49:24,339 --> 00:49:25,674 Ackman and Herbalife. 852 00:49:26,258 --> 00:49:28,260 Before that... Piggly Wiggly? 853 00:49:28,260 --> 00:49:29,595 Piggly Wiggly. 854 00:49:29,595 --> 00:49:34,266 Yeah. 1923, a bear cartel was shorting the Piggly Wiggly grocery store. 855 00:49:34,266 --> 00:49:39,313 The founder, he takes out a loan for what would be $150 million today. 856 00:49:39,313 --> 00:49:41,773 He buys back almost all the stock, like 99% of the stock. 857 00:49:41,773 --> 00:49:44,109 The price of the stock goes up 50%. 858 00:49:44,109 --> 00:49:46,361 - How much is GameStop up? - Then, the exchange, 859 00:49:46,361 --> 00:49:48,238 they halt trading on the stock 860 00:49:48,238 --> 00:49:51,074 so the short sellers can cover their positions. 861 00:49:51,074 --> 00:49:52,743 Is that legal? 862 00:49:52,743 --> 00:49:55,495 The founder had to declare bankruptcy. So... 863 00:49:56,371 --> 00:49:57,873 it was all fine in the end. 864 00:49:57,873 --> 00:50:00,417 And you knew all that or you looked it up? 865 00:50:01,710 --> 00:50:03,670 Every fund manager knows that story. 866 00:50:07,758 --> 00:50:09,134 You looked it up. 867 00:50:10,969 --> 00:50:12,846 Double checked some numbers maybe. 868 00:50:22,231 --> 00:50:25,275 Oh, do you see what's going on at GME? 869 00:50:25,275 --> 00:50:27,319 - There's more of these idiots. - A lot more. 870 00:50:27,319 --> 00:50:28,612 They won't hold much longer. 871 00:50:28,612 --> 00:50:31,365 Oh, Gabe, honey, they're holding. 872 00:50:31,365 --> 00:50:33,450 It just crossed a hundred. 873 00:50:35,827 --> 00:50:37,329 Gabe? 874 00:50:37,329 --> 00:50:38,830 Where are you? 875 00:50:43,252 --> 00:50:45,254 You should probably dial in. 876 00:50:45,254 --> 00:50:46,880 Yeah, be on in one sec. 877 00:50:46,880 --> 00:50:49,591 GameStop, extraordinary volatility today. 878 00:50:49,591 --> 00:50:51,844 You know, we might want to make this the stock of the day. 879 00:50:51,844 --> 00:50:54,596 Now that it's gaining 103%. 880 00:50:54,596 --> 00:50:55,889 - That is volatility. - I will tell you, 881 00:50:55,889 --> 00:50:57,140 {\an8}I've never seen anything like it. 882 00:50:58,267 --> 00:50:59,768 I'm concerned about it deeply. 883 00:50:59,768 --> 00:51:02,062 I'm calling it the ultimate short squeeze. 884 00:51:02,062 --> 00:51:04,731 - How much money is being made... - Holy fucking shit. 885 00:51:04,731 --> 00:51:07,067 ...now we're gonna talk about GameStop. Those shares... 886 00:51:07,067 --> 00:51:10,195 - nonstop earning about of 130% today. - Holy fucking shit! 887 00:51:10,195 --> 00:51:12,281 As bullish retail traders frenetically buy shares. 888 00:51:12,281 --> 00:51:13,198 Holy fucking shit! 889 00:51:13,198 --> 00:51:14,575 Yo, holy shit! 890 00:51:15,158 --> 00:51:16,368 Shit balls. 891 00:51:16,368 --> 00:51:18,662 - Holy shit! - You look at the chart for the month. 892 00:51:18,662 --> 00:51:21,290 - It's up 220%. - Oh, fuck! 893 00:51:21,874 --> 00:51:23,584 - Look there... It's crazy. - Everything okay? 894 00:51:23,584 --> 00:51:26,545 Holy fucking shit! 895 00:51:26,545 --> 00:51:30,215 {\an8}...if you go short in some of these elaborate options trades, 896 00:51:30,215 --> 00:51:32,426 {\an8}you can lose money to infinity. 897 00:51:32,426 --> 00:51:36,096 GameStop now at 123 and change, another record high. 898 00:51:36,096 --> 00:51:38,056 - Holy fucking shit! - Completely disconnected... 899 00:51:38,056 --> 00:51:39,391 from the fundamentals. 900 00:51:39,391 --> 00:51:42,477 And this is very much being driven by retail investors. 901 00:51:42,477 --> 00:51:45,522 - Many of them trading on Robinhood. - When the music stops, somebody... 902 00:51:45,522 --> 00:51:48,859 {\an8}-is gonna be left without a seat. - This for casino money only. 903 00:51:48,859 --> 00:51:50,903 {\an8}They're literally putting the game in GameStop. 904 00:51:50,903 --> 00:51:52,946 {\an8}...is the craziest I think I've ever seen. 905 00:51:52,946 --> 00:51:56,783 True investors never heard of Reddit a few years ago. 906 00:51:56,783 --> 00:51:58,660 But for that to drive a short squeeze... 907 00:51:58,660 --> 00:52:00,996 It is Wall Street Bets. It's worth going to the site 908 00:52:00,996 --> 00:52:02,873 because it is incredibly compelling. 909 00:52:02,873 --> 00:52:05,709 You may think it's froth, but they are using arguments 910 00:52:05,709 --> 00:52:07,753 that they think hold up under scrutiny. 911 00:52:07,753 --> 00:52:10,255 - I just like the stock! - I can't look. 912 00:52:10,255 --> 00:52:12,466 - I can't look. I can't look. - It's up another 4%. 913 00:52:12,466 --> 00:52:13,884 I'm gonna have a fucking heart attack. 914 00:52:13,884 --> 00:52:15,511 - Should we sell? - And betray your boyfriend? 915 00:52:15,511 --> 00:52:16,720 Absolutely not. No. 916 00:52:16,720 --> 00:52:18,722 - The stock is up 581%. - Maybe. 917 00:52:18,722 --> 00:52:20,891 ...they are being very specific: 918 00:52:20,891 --> 00:52:22,184 - To break the shorts. - Yes. 919 00:52:22,184 --> 00:52:23,977 I mean, what's going on in GameStop right now 920 00:52:23,977 --> 00:52:26,146 conceivably could take a couple of firms out. 921 00:52:26,146 --> 00:52:28,982 Hedge funds if they were stupid enough to be short. 922 00:52:28,982 --> 00:52:31,026 Babe, how much did we make today? 923 00:52:32,486 --> 00:52:33,362 5 million. 924 00:52:33,946 --> 00:52:34,905 And yesterday? 925 00:52:35,531 --> 00:52:36,615 4 million. 926 00:52:39,159 --> 00:52:39,993 Babe... 927 00:52:40,702 --> 00:52:41,745 Yeah? 928 00:52:42,704 --> 00:52:45,415 We're, like, really fucking rich. 929 00:52:52,089 --> 00:52:53,841 How much did we lose today? 930 00:52:56,385 --> 00:52:57,261 A billion. 931 00:52:59,888 --> 00:53:00,806 And yesterday? 932 00:53:02,432 --> 00:53:03,433 A billion. 933 00:53:07,855 --> 00:53:09,481 Some news to bring you right now is that 934 00:53:09,481 --> 00:53:11,108 {\an8}Melvin Capital Management, 935 00:53:11,108 --> 00:53:15,237 {\an8}this is the hedge fund that had shorted this company, 936 00:53:15,237 --> 00:53:20,909 {\an8}that had effectively been attacked by an army of investors trying to push up 937 00:53:20,909 --> 00:53:23,745 {\an8}and press up the stock of GameStop. 938 00:53:23,745 --> 00:53:26,331 They've taken a rather huge loss... 939 00:53:26,331 --> 00:53:29,251 Sorry, if you could just put your head up for a sec? 940 00:53:29,918 --> 00:53:30,836 Thanks. 941 00:53:31,336 --> 00:53:32,754 How long've you been down here? 942 00:53:33,255 --> 00:53:34,089 A few months. 943 00:53:35,549 --> 00:53:36,884 You like the weather? 944 00:53:39,052 --> 00:53:42,514 Heat is nice. The humidity not as much. 945 00:53:42,514 --> 00:53:43,765 I can see that. 946 00:53:45,601 --> 00:53:47,936 All right, I think you're good to go. 947 00:54:13,629 --> 00:54:15,547 - Hey! - Hey, man. 948 00:54:15,547 --> 00:54:17,382 - Hi. - It's good to connect. 949 00:54:17,382 --> 00:54:18,592 You too. Great to be here. 950 00:54:18,592 --> 00:54:19,760 - Excited. - I'm glad you are. 951 00:54:19,760 --> 00:54:21,261 Listen, I want to get right to it. 952 00:54:21,261 --> 00:54:24,431 From what I'm hearing, you guys are bankrupt. 953 00:54:26,183 --> 00:54:27,684 No! What? No. 954 00:54:27,684 --> 00:54:30,771 'Cause the word on the street is that you're drowning. 955 00:54:30,771 --> 00:54:33,023 No, that's... That's crazy. 956 00:54:33,023 --> 00:54:35,526 - We're doing great. - You're on the record with that? 957 00:54:36,109 --> 00:54:36,985 Obviously. 958 00:54:36,985 --> 00:54:40,239 All right man. Well, then, we're gonna get the live feed up right now, 959 00:54:40,239 --> 00:54:42,616 and then we're gonna get to you right after this next advertising break. 960 00:54:42,616 --> 00:54:44,326 Perfect, great. Yes, can't wait. 961 00:54:49,081 --> 00:54:51,083 All right, one more spot and then you're gonna be up. 962 00:54:51,083 --> 00:54:54,169 I really do think this is the right time for you to communicate. 963 00:54:54,169 --> 00:54:56,129 - Great, yes. Agreed. - Great. We're gonna do it. 964 00:54:56,129 --> 00:54:58,757 Address it all head on. It's gonna be good. 965 00:55:00,843 --> 00:55:03,011 - No. - What? Gabe, we're on in 10 seconds. 966 00:55:03,011 --> 00:55:04,304 I can't do this. I'm sorry. 967 00:55:04,304 --> 00:55:05,264 Gabe, seriously. 968 00:55:05,264 --> 00:55:06,974 - Bye, I'm terribly sorry. - Seriously, c'mon. 969 00:55:06,974 --> 00:55:08,851 - Good to see you. The pleasure's here. - We're going on right now. 970 00:55:15,566 --> 00:55:16,400 Babe, 971 00:55:17,568 --> 00:55:18,735 what's the damage? 972 00:55:51,059 --> 00:55:52,352 Let me guess, you need cash. 973 00:55:52,352 --> 00:55:54,396 Didn't call Ken first, did you? 974 00:55:54,396 --> 00:55:56,064 He had Phillips reach out. 975 00:55:56,565 --> 00:55:57,941 How much did he offer? 976 00:55:59,443 --> 00:56:00,903 I haven't called him back yet. 977 00:56:00,903 --> 00:56:02,321 Well, how much do you need? 978 00:56:02,321 --> 00:56:04,781 You know what? Don't answer that. The number doesn't matter. 979 00:56:04,781 --> 00:56:06,366 Whatever it is, I'd love to buy in. 980 00:56:06,366 --> 00:56:08,452 Tell Ken to fill in the rest. 981 00:56:08,452 --> 00:56:09,661 Prick. 982 00:56:15,709 --> 00:56:16,752 - Hey, Ken. - Hey. 983 00:56:16,752 --> 00:56:19,880 Hi... So, I might need... 984 00:56:22,633 --> 00:56:23,634 A new investor. 985 00:56:23,634 --> 00:56:24,927 Consider it done. 986 00:56:24,927 --> 00:56:26,929 Just keep moving forward. 987 00:56:26,929 --> 00:56:29,556 Don't think about what Grandpa Melvin used to say. 988 00:56:29,556 --> 00:56:30,891 Prick. 989 00:56:32,768 --> 00:56:34,728 - Thank you. - Both Citadel 990 00:56:34,728 --> 00:56:38,440 - and Point72 have infused - Poor guy. 991 00:56:38,440 --> 00:56:41,944 $3 billion into Melvin Capital 992 00:56:41,944 --> 00:56:44,821 - to try to shore up... - Another goddamn bailout. 993 00:56:44,821 --> 00:56:46,532 Can you believe this crap? 994 00:56:46,532 --> 00:56:47,741 Nobody bailed me out 995 00:56:47,741 --> 00:56:50,744 when Richard left me alone with two toddlers, a mortgage, 996 00:56:50,744 --> 00:56:52,037 a shit car that never works. 997 00:56:52,037 --> 00:56:53,789 You can say "shit" but we can't? 998 00:56:53,789 --> 00:56:55,832 It's just so damn unfair and you know it. 999 00:56:55,832 --> 00:56:59,837 All we've done for the last year is work our asses off helping people, 1000 00:56:59,837 --> 00:57:02,548 and all we've gotten is one $600 cheque. 1001 00:57:02,548 --> 00:57:05,592 This idiot effs up just about as bad as anyone could eff, 1002 00:57:05,592 --> 00:57:08,637 and his friends come running in with $3 billion. 1003 00:57:08,637 --> 00:57:10,889 That's why I keep telling you: you're never gonna win. 1004 00:57:10,889 --> 00:57:13,433 Just take the money and do something nice. Pay off your mortgage. 1005 00:57:13,433 --> 00:57:15,018 Get that one braces. 1006 00:57:15,602 --> 00:57:17,104 Look who's still holding. 1007 00:57:18,564 --> 00:57:20,566 If he's in, I'm in. 1008 00:57:20,566 --> 00:57:22,526 Yeah, he's still gonna need braces. 1009 00:57:22,526 --> 00:57:23,610 Your teeth are perfect. 1010 00:57:23,610 --> 00:57:25,821 So what? The stock's up $150. 1011 00:57:25,821 --> 00:57:27,739 - How much higher is it gonna go? - We control the price now. 1012 00:57:27,739 --> 00:57:30,576 Not Wall Street. And no one on there is selling. 1013 00:57:30,576 --> 00:57:31,702 Shoes. 1014 00:57:31,702 --> 00:57:33,328 You're all so delusional. 1015 00:57:33,328 --> 00:57:36,331 Maybe. But look at what we managed to do with these hedge funds. 1016 00:57:36,331 --> 00:57:37,958 If we keep driving up the price, 1017 00:57:37,958 --> 00:57:41,128 maybe we'll scare more of these guys into closing out their shorts, 1018 00:57:41,128 --> 00:57:43,213 and then all of that bailout money... 1019 00:57:43,213 --> 00:57:44,631 - Wait... - becomes ours. 1020 00:57:44,631 --> 00:57:45,549 your screen name... 1021 00:57:46,341 --> 00:57:47,885 is Stonkmom? 1022 00:57:52,306 --> 00:57:53,307 - Hey! - Help your mother. 1023 00:57:53,307 --> 00:57:55,809 - Why me and not Keith? - Just shut up and do it, okay? 1024 00:57:55,809 --> 00:57:58,020 - Kev, take the potatoes. - 'Cause you're rich now? 1025 00:57:58,020 --> 00:58:00,105 Mr 23 million on paper but I won't sell. 1026 00:58:00,105 --> 00:58:02,357 - Kevin. - Loser says what? 1027 00:58:03,358 --> 00:58:05,819 - What? - Kevin, let Keith tell them. 1028 00:58:09,031 --> 00:58:09,907 Tell us what? 1029 00:58:11,533 --> 00:58:17,372 Oh... I was waiting to tell you in person. But the stock we bet on, GameStop is up. 1030 00:58:17,372 --> 00:58:18,540 Ah, good. 1031 00:58:19,666 --> 00:58:22,127 - How much up? - He's up 23 million, Pop. 1032 00:58:22,711 --> 00:58:23,712 You're an asshole. 1033 00:58:23,712 --> 00:58:26,256 - Don't kid us. - It's real. 1034 00:58:26,256 --> 00:58:28,926 Yeah, it's real. And he's refusing to sell. 1035 00:58:30,802 --> 00:58:31,845 What is going on? 1036 00:58:32,888 --> 00:58:34,223 - You're pulling our leg. - No. 1037 00:58:34,223 --> 00:58:36,141 Your son's a huge Internet celebrity now. 1038 00:58:36,141 --> 00:58:38,977 Millions of people including "Stonkmom" thinks he's some like, 1039 00:58:38,977 --> 00:58:41,021 - I don't know, investment genius. - No, he is a genius. 1040 00:58:41,021 --> 00:58:42,356 No, he's not. 1041 00:58:42,356 --> 00:58:44,107 You're up 23 million? 1042 00:58:45,108 --> 00:58:46,527 And you're not selling. 1043 00:58:48,153 --> 00:58:49,488 Jesus, Mary and Joseph. 1044 00:58:49,488 --> 00:58:50,989 What the fuck is wrong with you? 1045 00:58:50,989 --> 00:58:53,325 Do you even know how much $23 million is? 1046 00:58:53,325 --> 00:58:55,619 And you're just gonna let it ride? What's the matter with you? 1047 00:58:55,619 --> 00:58:57,829 - I know what I'm doing, Dad. - But why aren't you selling? 1048 00:58:57,829 --> 00:58:59,706 What, wait! Is this illegal? Are you in trouble? 1049 00:58:59,706 --> 00:59:01,124 No. No, he's not in trouble. 1050 00:59:01,124 --> 00:59:02,709 - It's totally legal. - Yeah, he's posting 1051 00:59:02,709 --> 00:59:03,627 his balance sheet on the Internet. 1052 00:59:03,627 --> 00:59:04,962 - What? - Hedge fund managers, 1053 00:59:04,962 --> 00:59:07,422 they go on CNBC all the time to pump up the stock. 1054 00:59:07,422 --> 00:59:09,883 All I do is post my balance sheet on Wall Street Bets 1055 00:59:09,883 --> 00:59:13,136 - after market close. - You post your balance sheet? 1056 00:59:13,136 --> 00:59:14,304 Yeah, the same idiot 1057 00:59:14,304 --> 00:59:17,099 who left a fresh pair of Nikes out on the bleachers for just anyone to take. 1058 00:59:17,099 --> 00:59:18,267 So you admit they were stolen! 1059 00:59:18,267 --> 00:59:19,893 - We gotta talk about this. - I admit you're a fuckin' moron. 1060 00:59:19,893 --> 00:59:21,436 - Least I won the race. - What's the point of winning the race 1061 00:59:21,436 --> 00:59:22,896 if you let some dipshit steal the prize? 1062 00:59:22,896 --> 00:59:24,231 You would've broke a four if you had the Zooms on. 1063 00:59:24,231 --> 00:59:25,732 A four minute mile isn't everything, Kevin. 1064 00:59:25,732 --> 00:59:27,609 Maybe we should get in touch with Briggsy. 1065 00:59:27,609 --> 00:59:29,027 You know, he works in finance. 1066 00:59:29,027 --> 00:59:30,571 - Yes. - You think Briggsy knows 1067 00:59:30,571 --> 00:59:31,738 more about this than Keith does? 1068 00:59:31,738 --> 00:59:33,866 Well, can you talk about why you're putting your stocks 1069 00:59:33,866 --> 00:59:35,534 - in the Wall Street Journal? - Wall Street Bets. 1070 00:59:35,534 --> 00:59:37,619 What if someone tries to rob you? Kidnap the baby? 1071 00:59:37,619 --> 00:59:38,954 No one's gonna kidnap the baby. 1072 00:59:38,954 --> 00:59:40,831 - Nobody wants that baby, Mom. - I'm just saying, 1073 00:59:40,831 --> 00:59:42,124 that if we're gonna talk to somebody, 1074 00:59:42,124 --> 00:59:43,834 - you need to talk to Briggsy. - Yes, honey. 1075 00:59:43,834 --> 00:59:45,419 - This is the point... - Enough! 1076 00:59:46,503 --> 00:59:48,088 You guys, Keith has literally 1077 00:59:48,088 --> 00:59:50,382 poured his heart and his soul into this for the past year. 1078 00:59:50,382 --> 00:59:51,758 He knows what he's doing. 1079 00:59:57,514 --> 01:00:00,017 I know it's been a tough time, Elaine. 1080 01:00:07,941 --> 01:00:09,026 You should still sell. 1081 01:00:11,445 --> 01:00:12,613 Think you should sell. 1082 01:00:16,533 --> 01:00:18,744 And just fuck the principle of the whole thing? 1083 01:00:18,744 --> 01:00:20,579 I don't like it any more than you do. 1084 01:00:36,053 --> 01:00:37,513 You really don't think that he's fucking selling? 1085 01:00:37,513 --> 01:00:38,430 No! 1086 01:00:38,931 --> 01:00:39,765 Ladies. 1087 01:00:41,308 --> 01:00:42,142 Masks. 1088 01:00:45,687 --> 01:00:48,982 Kids are with their father for a few days. So, I'm going to Florida. 1089 01:00:48,982 --> 01:00:51,818 You finally fucking sold. Halle­fuckin-lujah. 1090 01:00:51,818 --> 01:00:53,946 No, I'm putting it on my Visa. 1091 01:00:53,946 --> 01:00:55,030 You shitting me? 1092 01:00:55,030 --> 01:00:57,199 You're worth hundreds of thousands of dollars in stock, 1093 01:00:57,199 --> 01:00:58,825 and you're amassing credit card debt. 1094 01:00:58,825 --> 01:01:00,827 You really are out of your mind. 1095 01:01:00,827 --> 01:01:04,831 No, babe, I'm all in. Diamond hand. 1096 01:01:04,831 --> 01:01:06,917 Did you know that Gabe Plotkin gave an interview? 1097 01:01:06,917 --> 01:01:09,461 He's been getting death threats, anti-Semitic messages 1098 01:01:09,461 --> 01:01:11,797 - from these WSB guys. - It was ten comments. 1099 01:01:11,797 --> 01:01:14,132 There's always bad apples. And the moderators deleted it right away. 1100 01:01:14,132 --> 01:01:16,593 You're just gonna ride this thing till zero? 1101 01:01:16,593 --> 01:01:19,012 No. I'm buying call options. 1102 01:01:19,012 --> 01:01:22,558 - That could go to 600 by tomorrow. - Your kid is never getting braces. 1103 01:01:30,566 --> 01:01:32,693 There's 8 million people in there and they're all holding. 1104 01:01:32,693 --> 01:01:34,236 It's only going to go up. 1105 01:01:34,236 --> 01:01:35,779 It's a joke, Marcos. 1106 01:01:35,779 --> 01:01:37,823 But you're treating it like it's real life. 1107 01:01:38,699 --> 01:01:39,533 Pops. 1108 01:01:41,743 --> 01:01:42,578 Look. 1109 01:01:43,620 --> 01:01:44,538 This is real. 1110 01:01:45,080 --> 01:01:46,039 - Hold it. Look. - Hey. 1111 01:01:46,039 --> 01:01:46,999 Aw, man. 1112 01:01:48,667 --> 01:01:50,377 8 million people is real. 1113 01:01:50,377 --> 01:01:52,045 H-O-D-L. 1114 01:01:52,754 --> 01:01:56,216 8 million don't even know how to spell "hold." 1115 01:01:56,216 --> 01:01:57,134 It's a joke. 1116 01:01:57,134 --> 01:01:58,468 A corny joke. 1117 01:01:58,468 --> 01:01:59,469 It's not funny. 1118 01:02:03,682 --> 01:02:04,516 Mom, 1119 01:02:05,851 --> 01:02:06,894 look. 1120 01:02:06,894 --> 01:02:09,521 I got $175,000 in stock right now. 1121 01:02:09,521 --> 01:02:10,689 What? 1122 01:02:10,689 --> 01:02:13,483 Like serious money, like I could get you a house and get you up out of here, 1123 01:02:13,483 --> 01:02:14,735 kind of money. 1124 01:02:14,735 --> 01:02:15,903 Baby. 1125 01:02:15,903 --> 01:02:18,322 Where did you get the money to buy this? 1126 01:02:19,489 --> 01:02:22,284 I bought call options, for cheap. 1127 01:02:22,284 --> 01:02:23,243 And they hit. 1128 01:02:24,036 --> 01:02:25,370 So now you're gonna sell? 1129 01:02:25,370 --> 01:02:26,788 Nah. No, I buy more. 1130 01:02:27,623 --> 01:02:29,458 At this price!? 1131 01:02:29,458 --> 01:02:31,502 When they hit, I'm gonna buy you a mansion. 1132 01:02:31,502 --> 01:02:32,586 It's gonna be crazy. 1133 01:02:32,586 --> 01:02:35,380 My son, I don't need a mansion. 1134 01:02:39,051 --> 01:02:40,219 Be careful. 1135 01:02:40,719 --> 01:02:43,096 Don't get addicted to this, my son. 1136 01:02:43,096 --> 01:02:44,806 This can be like a drug. 1137 01:02:50,854 --> 01:02:55,609 {\an8}Some breaking news right now on what has turned into the soap opera 1138 01:02:55,609 --> 01:02:59,947 {\an8}and saga of the markets right now. And that is the story of GameStop. 1139 01:02:59,947 --> 01:03:02,741 A month ago today, it was trading at about 20 bucks per share. 1140 01:03:02,741 --> 01:03:04,910 Two days ago, it was under $80. 1141 01:03:04,910 --> 01:03:08,330 Today, nearly $350 a share. 1142 01:03:08,330 --> 01:03:12,376 {\an8}The GameStop stock frenzy even now has the attention of the White House. 1143 01:03:12,376 --> 01:03:14,795 {\an8}...our economic team including Secretary Yellen and others 1144 01:03:14,795 --> 01:03:17,047 {\an8}-are monitoring the situation. - You're witnessing 1145 01:03:17,047 --> 01:03:18,882 {\an8}the French Revolution of finance. 1146 01:03:18,882 --> 01:03:20,300 {\an8}There is a rebellion aspect to it. 1147 01:03:20,300 --> 01:03:22,386 {\an8}There is an anti-establishment aspect to it. 1148 01:03:22,386 --> 01:03:23,762 {\an8}I don't know if Wall Street's ever seen it 1149 01:03:23,762 --> 01:03:24,847 {\an8}-like this before. - No. 1150 01:03:24,847 --> 01:03:26,181 {\an8}-We never have. - It's generational. 1151 01:03:26,181 --> 01:03:27,891 {\an8}It's like generational injustices. 1152 01:03:27,891 --> 01:03:31,353 {\an8}This is like, little poor guys vs. rich guys. 1153 01:03:31,353 --> 01:03:34,231 And poor guys are winning right now. 1154 01:03:34,231 --> 01:03:36,775 {\an8}Fucking hold! If you're new here and you're trying to make a profit, 1155 01:03:36,775 --> 01:03:38,610 {\an8}-fuck off! - Stop what you're doing, and listen up. 1156 01:03:38,610 --> 01:03:41,029 I own GameStop on Robinhood and I am not selling. 1157 01:03:41,029 --> 01:03:44,741 Hold. All you need to do is hold. Keep fucking holding. 1158 01:03:44,741 --> 01:03:48,453 Soon the Tendieman comes to send our rocket to the sun. 1159 01:03:48,453 --> 01:03:51,707 See this right here is the human being who's largely responsible 1160 01:03:51,707 --> 01:03:53,584 for all this GameStop stuff. 1161 01:03:53,584 --> 01:03:59,965 Just a pure specimen. A God-like undefeatable creature. 1162 01:03:59,965 --> 01:04:03,594 This is what excellence looks like. 1163 01:04:03,594 --> 01:04:05,929 - I just like the stock. - Yesterday he posted this, 1164 01:04:05,929 --> 01:04:08,348 that he's in profit, wait for it... 1165 01:04:09,349 --> 01:04:11,894 47 million. 1166 01:04:13,228 --> 01:04:14,938 What the fuck is happening? 1167 01:04:15,689 --> 01:04:17,107 What the fuck? 1168 01:04:19,234 --> 01:04:20,652 Hey, did you try a different browser? 1169 01:04:20,652 --> 01:04:22,988 - I plugged the browser. - Shit, we're fucked. 1170 01:04:24,156 --> 01:04:25,324 Bro, what the fuck? 1171 01:04:25,324 --> 01:04:27,451 - What the fuck, dude? - I told you this shit is rigged. 1172 01:04:28,869 --> 01:04:29,995 What the fuck is going on? 1173 01:04:32,539 --> 01:04:33,749 I can't get it to load. 1174 01:04:40,214 --> 01:04:41,131 Fuck! 1175 01:04:45,427 --> 01:04:46,261 What? 1176 01:04:49,431 --> 01:04:51,225 {\an8}They shut down Wall Street Bets. 1177 01:04:51,725 --> 01:04:54,728 {\an8}- What? -"Hateful and discriminatory content." 1178 01:04:54,728 --> 01:04:56,438 That stuff has always been on there. 1179 01:05:01,944 --> 01:05:03,278 That's weird. 1180 01:05:03,278 --> 01:05:04,279 No? 1181 01:05:05,322 --> 01:05:08,659 I mean, it's like they're trying to stop people from talking to each other. 1182 01:05:15,999 --> 01:05:17,167 Babe, are you gonna get that? 1183 01:05:17,167 --> 01:05:18,085 Yes. 1184 01:05:21,129 --> 01:05:21,964 Hello? 1185 01:05:23,632 --> 01:05:26,593 Ah, yes, I am... 1186 01:05:27,094 --> 01:05:30,347 I am the Roaring Kitty and Deep F-ing Value. 1187 01:05:32,140 --> 01:05:35,561 Ah no, but nobody ever asked me. 1188 01:05:37,646 --> 01:05:38,981 Oh, okay. 1189 01:05:38,981 --> 01:05:41,775 Sir, I just want to say how grateful I am for this job 1190 01:05:41,775 --> 01:05:43,694 and how much it means to me and my family. 1191 01:05:43,694 --> 01:05:46,113 I would never let a hobby jeopardise... 1192 01:05:47,823 --> 01:05:49,783 Okay. I understand. 1193 01:05:55,747 --> 01:05:58,208 - Yeah? - It's MassMutual. They're... 1194 01:05:58,208 --> 01:06:01,628 getting calls from reporters "concerned" about my "outside activities." 1195 01:06:01,628 --> 01:06:03,505 Was all this against the rules? 1196 01:06:03,505 --> 01:06:06,425 I wasn't...? Maybe now it is... 1197 01:06:06,425 --> 01:06:07,342 Okay. 1198 01:06:10,387 --> 01:06:11,930 Well, what was that call? 1199 01:06:13,557 --> 01:06:15,017 - Keith? - It's okay. 1200 01:06:15,017 --> 01:06:16,226 What, are you going to lose your job? 1201 01:06:16,226 --> 01:06:17,144 - What? - It's fine. 1202 01:06:18,270 --> 01:06:20,105 - They gave me a choice. - Between what? 1203 01:06:20,105 --> 01:06:21,899 Between your job and Roaring Kitty? 1204 01:06:23,901 --> 01:06:25,736 Resign or I'm fired. 1205 01:06:25,736 --> 01:06:26,695 That's what he just said? 1206 01:06:28,071 --> 01:06:28,906 I got it. 1207 01:06:31,158 --> 01:06:32,534 Fuck it, Wall Street Bets is down, I can't see 1208 01:06:32,534 --> 01:06:34,161 - Roaring Kitty's balance sheet. - Oh fuck. 1209 01:06:34,161 --> 01:06:35,412 I don't know what to do. 1210 01:06:35,913 --> 01:06:36,997 This could be the sell-off. 1211 01:06:36,997 --> 01:06:39,041 I really don't wanna do that. 1212 01:06:39,041 --> 01:06:42,211 Well, me neither. But you can't let it go to zero. 1213 01:06:43,086 --> 01:06:45,422 It's 150 grand. You need that money. 1214 01:06:45,422 --> 01:06:47,883 And nobody is gonna hold if they can't see what he's doing. 1215 01:06:50,594 --> 01:06:52,054 Close your eyes and count to three. 1216 01:06:52,763 --> 01:06:53,597 One. 1217 01:06:55,599 --> 01:06:56,517 - Two. - Two. 1218 01:06:57,726 --> 01:06:58,852 {\an8}- Three. - Three. 1219 01:07:03,607 --> 01:07:04,441 Your phone's ringing. 1220 01:07:04,441 --> 01:07:06,652 This is the sound of the world. 1221 01:07:06,652 --> 01:07:08,362 Your phone is ringing! 1222 01:07:08,362 --> 01:07:12,491 Oh, Robinhood. Yeah. It's an app. 1223 01:07:13,075 --> 01:07:14,368 It's on the phone. 1224 01:07:14,368 --> 01:07:16,745 - Yeah, no, your phone is ringing. - Oh. 1225 01:07:17,788 --> 01:07:20,082 Yes... 1226 01:07:23,043 --> 01:07:24,878 Slow down, Norm, what did you say? 1227 01:07:25,379 --> 01:07:29,800 The NSCC just sent us a file, they want a deposit of 3 billion 1228 01:07:29,800 --> 01:07:31,510 to clear all the trades coming in. 1229 01:07:32,219 --> 01:07:33,512 Sorry. 1230 01:07:33,512 --> 01:07:34,596 Wait, who? 1231 01:07:34,596 --> 01:07:40,143 They're a subsidiary of the DTCC. And they're requesting 3 billion. 1232 01:07:40,143 --> 01:07:45,107 Ah... Okay. Sorry, it's a little loud in here. I thought you just said 3 billion. 1233 01:07:45,607 --> 01:07:46,650 I did! 1234 01:07:47,943 --> 01:07:50,654 - But we don't have 3 billion, Norm. - That's correct. 1235 01:07:50,654 --> 01:07:53,699 We've only ever raised 2 billion in the history of the company. 1236 01:07:54,575 --> 01:07:56,535 Holy fuck! What if we don't pay? 1237 01:07:56,535 --> 01:07:57,995 They shut us down. 1238 01:07:58,954 --> 01:08:01,957 The IPO, like, everything... poof. 1239 01:08:01,957 --> 01:08:04,835 Gretchen, Dan and I are going to jump on a call with Citadel at 9. 1240 01:08:08,672 --> 01:08:11,717 Maybe this would be a good time for me to chat with Ken Griffin. 1241 01:08:11,717 --> 01:08:14,428 Sure. We'll mention that. 1242 01:08:16,013 --> 01:08:17,305 I can't sleep. 1243 01:08:17,305 --> 01:08:18,348 Me neither. 1244 01:08:18,849 --> 01:08:20,142 I just feel sick! 1245 01:08:21,143 --> 01:08:22,728 We'll buy it back first thing. 1246 01:08:24,563 --> 01:08:25,981 Please shut up. 1247 01:08:40,828 --> 01:08:42,288 What the fuck. 1248 01:08:45,375 --> 01:08:46,502 Oh! What the fuck! 1249 01:08:47,544 --> 01:08:49,630 - What the fuck! - Okay, let me try. 1250 01:08:50,714 --> 01:08:52,090 Is it frozen? 1251 01:08:57,345 --> 01:08:59,139 They cut off the buy option. 1252 01:08:59,848 --> 01:09:01,390 What?! That's fucking criminal. 1253 01:09:01,390 --> 01:09:02,684 I can't hear you, Baiju! 1254 01:09:02,684 --> 01:09:04,019 What the fuck did you do? 1255 01:09:04,019 --> 01:09:05,770 - Calm down. - Me calm down? 1256 01:09:05,770 --> 01:09:07,356 You shut down trading on GameStop? 1257 01:09:07,356 --> 01:09:08,524 Not all trading. 1258 01:09:08,524 --> 01:09:09,691 Norm worked it out. 1259 01:09:09,691 --> 01:09:13,237 The DTCC agreed to lower the deposit to 700 million 1260 01:09:13,237 --> 01:09:15,404 if we shut off buying, and that's what I did. 1261 01:09:15,404 --> 01:09:17,448 The Depository Trade Commission? 1262 01:09:17,448 --> 01:09:19,701 They're like one degree away from Ken Griffin. 1263 01:09:19,701 --> 01:09:20,953 One more time, Baiju. 1264 01:09:21,995 --> 01:09:22,912 ...butt boys! 1265 01:09:24,915 --> 01:09:27,042 - What? - It's not going to be okay. 1266 01:09:27,042 --> 01:09:28,292 You need to fix this... 1267 01:09:28,292 --> 01:09:29,920 I know, it's okay. 1268 01:09:30,796 --> 01:09:32,214 I did fix it, Baiju. 1269 01:09:34,424 --> 01:09:37,135 We've been watching shares of GameStop all day long 1270 01:09:37,135 --> 01:09:40,805 after hitting a staggering high of $483. 1271 01:09:40,805 --> 01:09:43,767 The shares are now down to about 140. 1272 01:09:43,767 --> 01:09:46,728 Now, the best we can tell is the Robinhood app 1273 01:09:46,728 --> 01:09:51,358 that seems to have triggered what really has become a panic sell-off in this name. 1274 01:09:51,358 --> 01:09:55,988 And so if you're a retail investor or a Reddit user and you've held, 1275 01:09:55,988 --> 01:09:59,116 well, you are feeling some serious pain right now. 1276 01:09:59,950 --> 01:10:01,118 Oh God. 1277 01:10:02,578 --> 01:10:04,997 - Fuck. - Now the criticism centered on Robinhood 1278 01:10:04,997 --> 01:10:09,334 for abandoning their followers here in favour of helping those who had shorted 1279 01:10:09,334 --> 01:10:12,337 - all these stocks in the first place. - I don't particularly like the move 1280 01:10:12,337 --> 01:10:13,255 on Robinhood today. 1281 01:10:13,255 --> 01:10:15,132 I'm talking to people this morning that say, 1282 01:10:15,132 --> 01:10:17,009 "Okay, that is anti-capitalism. 1283 01:10:17,009 --> 01:10:18,510 - You can't do that." - Fuck you, Robinhood! 1284 01:10:18,510 --> 01:10:23,223 There's been some controversy about Citadel and some vague accusations 1285 01:10:23,223 --> 01:10:26,393 that somehow Citadel may have been involved in Robinhood's decision, Wolf, 1286 01:10:26,393 --> 01:10:29,855 {\an8}to stop or restrict trading in GameStop and other shorts... 1287 01:10:29,855 --> 01:10:30,898 Who is it from? 1288 01:10:30,898 --> 01:10:33,692 {\an8}The Tendieman...? 1289 01:10:35,569 --> 01:10:36,486 Come back inside. 1290 01:10:36,486 --> 01:10:38,030 Diamond fucking hands! 1291 01:10:40,199 --> 01:10:42,618 We all know how I feel about him. 1292 01:10:42,618 --> 01:10:44,369 I think he's a rat, a liar. 1293 01:10:44,369 --> 01:10:49,208 Okay, Vlad, you know everybody here who's watching us hates your guts, right? 1294 01:10:50,209 --> 01:10:53,712 Thank you, Dave, that's... what I hear. 1295 01:10:53,712 --> 01:10:57,633 But I'm a really big fan of your show and hopefully I can answer 1296 01:10:57,633 --> 01:10:59,718 - some of your questions. - Vlad, can you hear us? 1297 01:10:59,718 --> 01:11:02,763 - Vlad the stock impaler. - Yes, I'm here... Hi. 1298 01:11:02,763 --> 01:11:04,890 Spill the beans, man, what happened last week? 1299 01:11:04,890 --> 01:11:07,684 Why couldn't people buy GameStop shares? 1300 01:11:07,684 --> 01:11:09,603 The people demand an answer. 1301 01:11:09,603 --> 01:11:13,148 To give you some background, I'm chief executive of Robinhood... 1302 01:11:13,148 --> 01:11:14,483 - Robbing executive. - Yeah, we know that. 1303 01:11:14,483 --> 01:11:16,151 And I just want to say, 1304 01:11:16,151 --> 01:11:18,820 - we had no liquidity problem. - Well, did something maybe shady 1305 01:11:18,820 --> 01:11:20,656 go down here? Seems weird that you'd get a sudden 1306 01:11:20,656 --> 01:11:22,783 - 10 billion dollar demand... You know. - Three, 3 billion... 1307 01:11:22,783 --> 01:11:24,993 - Okay, but 3 billion just suddenly, - Yeah. 1308 01:11:24,993 --> 01:11:27,079 - out of nowhere and... - Well, I wouldn't impute 1309 01:11:27,079 --> 01:11:30,207 any shadiness to any of this... 1310 01:11:30,207 --> 01:11:34,920 I don't have the full context as to what was going on with the NSCC to, 1311 01:11:34,920 --> 01:11:37,965 to make these calculations. 1312 01:11:37,965 --> 01:11:40,425 To what degree are you beholden to Citadel? 1313 01:11:40,425 --> 01:11:43,679 I mean, like, basically, if Citadel is unhappy, then what happens? 1314 01:11:43,679 --> 01:11:46,849 - It was a hard temperance. - Is anyone holding you hostage right now? 1315 01:11:46,849 --> 01:11:48,267 - No. - There's just 1316 01:11:48,267 --> 01:11:51,562 {\an8}no rational explanation on why they would do what they did 1317 01:11:51,562 --> 01:11:54,273 {\an8}without outside pressure, interference. 1318 01:11:54,273 --> 01:11:56,942 {\an8}And they basically cratered the stock on purpose. 1319 01:11:56,942 --> 01:11:59,987 {\an8}So, I just don't believe anything that guy says. 1320 01:11:59,987 --> 01:12:02,364 {\an8}I wanted to take a cold shower after seeing him say that. 1321 01:12:02,364 --> 01:12:05,033 {\an8}Robinhood is facing lawsuits, we know that. 1322 01:12:05,033 --> 01:12:07,411 {\an8}After halting trade, they are accused 1323 01:12:07,411 --> 01:12:09,580 {\an8}-of rigging the market. - When the big guys, 1324 01:12:09,580 --> 01:12:12,833 {\an8}including one of your main investors in your company started to lose, 1325 01:12:12,833 --> 01:12:15,502 {\an8}you shut down the game to starve the little guy. 1326 01:12:15,502 --> 01:12:18,505 {\an8}They're stealing from the poor and giving back to the rich. 1327 01:12:18,505 --> 01:12:21,884 {\an8}They're robbing from the 'hood! Why? 1328 01:12:21,884 --> 01:12:24,928 {\an8}-I want to be 100% clear, - All of you guys deserve to burn in hell. 1329 01:12:24,928 --> 01:12:26,305 - this decision to... - And go to jail. 1330 01:12:26,305 --> 01:12:27,431 restrict trade was not made on the direction 1331 01:12:27,431 --> 01:12:28,682 I'm just trying to get my mom out the 'hood. 1332 01:12:28,682 --> 01:12:31,476 - of Citadel or any market maker. - What the fuck? Fuck you! 1333 01:12:31,476 --> 01:12:32,895 And your Mama Dukes, you motherfucking fraud. 1334 01:12:32,895 --> 01:12:33,812 Fuck this guy. 1335 01:12:34,688 --> 01:12:37,191 This guy is just an obfuscating piece of shit. 1336 01:12:37,191 --> 01:12:38,483 Fucker. 1337 01:12:38,483 --> 01:12:40,819 There's only one man I wanna hear from right now. 1338 01:12:40,819 --> 01:12:43,447 And Wall Street Bets is down, so it's crickets. 1339 01:12:43,447 --> 01:12:45,032 It's crickets out here. 1340 01:12:45,908 --> 01:12:47,034 Say it with me. 1341 01:12:47,534 --> 01:12:49,536 - Where my pussy at! - Where my pussy at! 1342 01:12:50,245 --> 01:12:51,788 - Mr Gill! - Mr Gill! 1343 01:12:52,581 --> 01:12:56,418 - Roaring Kitty, I fucking love you! - Keith Gill! 1344 01:12:56,418 --> 01:12:58,170 - Keith Gill, please! - Okay. 1345 01:12:58,170 --> 01:13:01,298 - Please. - Oh, sorry, this is, like, my house... 1346 01:13:01,298 --> 01:13:02,883 - You want my autograph? - Yeah. 1347 01:13:03,800 --> 01:13:04,676 You've been served. 1348 01:13:07,763 --> 01:13:10,599 Hey, to the moon, baby! To the moon. 1349 01:13:10,599 --> 01:13:11,808 Holy shit. 1350 01:13:16,730 --> 01:13:20,567 Sorry to interrupt. We need to talk about the GameStop situation. 1351 01:13:20,567 --> 01:13:21,693 I thought Mecane was handling it. 1352 01:13:21,693 --> 01:13:24,780 So did we. But the committee's specifically requested you, sir. 1353 01:13:24,780 --> 01:13:26,990 If they want specifics, they can have Mecane. 1354 01:13:27,699 --> 01:13:29,618 It's not a choice, unfortunately. 1355 01:13:33,830 --> 01:13:35,082 Shitballs. 1356 01:13:37,960 --> 01:13:38,794 Keith? 1357 01:13:40,379 --> 01:13:43,465 - A congressional subpoena. - I never did anything illegal. 1358 01:13:43,465 --> 01:13:44,925 And I always had disclaimers... 1359 01:13:45,592 --> 01:13:47,219 Why would you have disclaimers if you weren't worried? 1360 01:13:48,345 --> 01:13:50,764 They're standard practise, Caroline, everyone has them. 1361 01:13:55,769 --> 01:13:56,603 Babe... 1362 01:14:00,148 --> 01:14:02,693 - the answer is not in your computer. - Whoa! 1363 01:14:03,318 --> 01:14:07,281 There's a dozen reporters on our lawn! You have to testify before Congress. 1364 01:14:07,948 --> 01:14:10,701 - The game has changed. - I know. I hear you. 1365 01:14:10,701 --> 01:14:12,119 I don't think you do. 1366 01:14:17,666 --> 01:14:19,084 Oh, my God. We're... 1367 01:14:20,627 --> 01:14:21,962 We're gonna go to my mother's. 1368 01:14:21,962 --> 01:14:24,131 No, she has terrible Wi-Fi. 1369 01:14:24,131 --> 01:14:26,175 I'm not talking about you. 1370 01:14:26,175 --> 01:14:28,051 I'm talking about me and her. 1371 01:14:28,802 --> 01:14:30,345 You need to figure this out. 1372 01:14:43,525 --> 01:14:45,402 - Where are you going? - To the track. 1373 01:14:45,402 --> 01:14:47,613 - You were just on the track. - I'm going again. 1374 01:14:58,248 --> 01:15:00,667 Hi. Can I interest you in some champagne or a mimosa? 1375 01:15:00,667 --> 01:15:02,961 - Is it free? - It is when you sit up here. 1376 01:15:02,961 --> 01:15:04,963 Well, there is a last time for everything. 1377 01:15:04,963 --> 01:15:06,465 Oh, you'll be back. 1378 01:15:06,465 --> 01:15:10,719 I had half a million in stocks last week, but Wall Street cheated. 1379 01:15:11,220 --> 01:15:12,387 Surprise, surprise. 1380 01:15:14,181 --> 01:15:15,432 I could have cashed out. 1381 01:15:16,558 --> 01:15:18,352 I could have paid my mortgage. 1382 01:15:18,352 --> 01:15:20,062 Could have gotten my kid braces. 1383 01:15:20,062 --> 01:15:20,979 Got a new car. 1384 01:15:20,979 --> 01:15:22,689 Honey, I'm gonna get you something stronger. 1385 01:15:22,689 --> 01:15:24,191 - Thank you. - You're welcome. 1386 01:15:30,322 --> 01:15:31,448 Meow! 1387 01:15:31,448 --> 01:15:32,574 Kitty! 1388 01:15:32,574 --> 01:15:35,285 You know you can't just eat other people's food. They do reviews, right? 1389 01:15:35,285 --> 01:15:36,328 Very funny. 1390 01:15:36,328 --> 01:15:37,246 Here. 1391 01:15:37,829 --> 01:15:39,122 What's this? 1392 01:15:39,122 --> 01:15:40,541 Look, they were on sale, all right, 1393 01:15:40,541 --> 01:15:43,627 - before you get all emotional and shit. - Holy shit, you fucking softy. 1394 01:15:43,627 --> 01:15:45,838 Who put you up to this? Caro? Ma? 1395 01:15:45,838 --> 01:15:48,298 No, Dad called me in tears, said my big brother needed 1396 01:15:48,298 --> 01:15:50,551 - some moral support. - Ah, fuck off. 1397 01:15:51,218 --> 01:15:52,761 - I can't. - C'mon, man. Will you at least try 'em on? 1398 01:15:52,761 --> 01:15:54,012 Please? 1399 01:15:54,012 --> 01:15:56,056 Try 'em. C'mon, you're the richest man in Brockton, 1400 01:15:56,056 --> 01:15:58,642 - you dress like an asshole. - I lost 15 million yesterday. 1401 01:15:58,642 --> 01:16:01,603 - And another 15 the day before that. - You're still the richest man in Brockton, 1402 01:16:01,603 --> 01:16:02,980 like, by far. 1403 01:16:03,647 --> 01:16:07,484 Bro, you got rich dudes pissing in their pants right now. 1404 01:16:07,484 --> 01:16:10,279 I mean, c'mon, man, how many people from Brockton High can say that? 1405 01:16:10,279 --> 01:16:11,446 This has gone crazy, 1406 01:16:11,446 --> 01:16:14,283 I got reporters hounding me outside my house. 1407 01:16:14,283 --> 01:16:16,410 Yeah, man, me too. They're coming after you. 1408 01:16:17,995 --> 01:16:19,705 You didn't talk to them, did you? 1409 01:16:19,705 --> 01:16:23,041 What do I look like? I said no. I said give me 50 grand maybe. 1410 01:16:23,041 --> 01:16:24,126 Tell me you're kidding. 1411 01:16:24,126 --> 01:16:26,795 Well, if you give me 20, then maybe we wouldn't have to deal with this shit. 1412 01:16:26,795 --> 01:16:27,838 The fuck is wrong with you!? 1413 01:16:27,838 --> 01:16:31,258 Kevin, I've just been subpoenaed by Congress, man. 1414 01:16:31,258 --> 01:16:32,926 I do not have time for your bullshit. 1415 01:16:32,926 --> 01:16:35,470 - Oh, come off it, man! - Seriously, asshole. 1416 01:16:35,470 --> 01:16:37,431 - Chill! It was a joke! - Fuck! 1417 01:16:45,355 --> 01:16:46,190 I know. 1418 01:16:47,024 --> 01:16:47,900 Sorry. 1419 01:16:54,990 --> 01:16:57,159 We never used to fight this much. 1420 01:17:00,078 --> 01:17:02,039 - Sara. - I miss her. 1421 01:17:02,664 --> 01:17:03,540 Me too. 1422 01:17:04,124 --> 01:17:05,542 She kept your ego in check. 1423 01:17:06,210 --> 01:17:08,378 Whole fuckin' world kept my ego in check. 1424 01:17:09,463 --> 01:17:12,090 What the fuck are you gonna tell Congress, Keith? Huh? 1425 01:17:13,217 --> 01:17:15,260 Beg them not to send me to prison? 1426 01:17:17,513 --> 01:17:18,347 Hey... 1427 01:17:19,097 --> 01:17:23,227 Hey, do you remember back at Stonehill when they dared me to run that mile naked? 1428 01:17:23,727 --> 01:17:25,437 Yeah, there was a crazy storm that night. 1429 01:17:25,437 --> 01:17:27,147 - You dumb shit. - Fuck you, man. 1430 01:17:27,147 --> 01:17:29,566 That was dope, man. I'm a legend over there. 1431 01:17:29,566 --> 01:17:30,817 Everybody remembers that! 1432 01:17:30,817 --> 01:17:31,944 - Okay. - They do, man. 1433 01:17:31,944 --> 01:17:33,987 You don't think people remember your 4-minute 3-second mile? 1434 01:17:33,987 --> 01:17:35,948 Oh... what is this, a pep talk? 1435 01:17:35,948 --> 01:17:37,449 Motherfucker, stop hiding. 1436 01:17:37,449 --> 01:17:40,994 Seriously. Okay, stop being all meek and shit and running away. 1437 01:17:41,828 --> 01:17:44,373 What, you want me to run through lightning with my dick out? 1438 01:17:44,373 --> 01:17:45,374 Yeah. 1439 01:17:45,374 --> 01:17:47,543 Please, exactly that. 1440 01:17:48,252 --> 01:17:50,546 Run through lightning with your dick out. Fuck it. 1441 01:17:58,762 --> 01:18:00,222 You didn't go to your mom's? 1442 01:18:02,140 --> 01:18:03,350 You took the car. 1443 01:18:05,102 --> 01:18:07,187 How was the run? Did it clear your head? 1444 01:18:07,980 --> 01:18:09,523 Kev found me, brought me these. 1445 01:18:10,774 --> 01:18:12,025 You guys talked? 1446 01:18:12,526 --> 01:18:15,279 Yup, he told me to run naked. 1447 01:18:15,779 --> 01:18:17,364 - You ran naked? - No. 1448 01:18:18,031 --> 01:18:21,535 It's a metaphor. He's saying I gotta take this thing head on. 1449 01:18:22,619 --> 01:18:23,453 Well... 1450 01:18:29,042 --> 01:18:30,627 I'd kinda like to see you run naked. 1451 01:18:34,339 --> 01:18:36,925 By the way, Wall Street Bets is back up. 1452 01:18:38,552 --> 01:18:39,928 The motherfucker held. 1453 01:18:40,679 --> 01:18:45,058 Holy shit! He lost 30 million, and he still fucking held. 1454 01:18:48,437 --> 01:18:50,147 - Robinhood's back up. - What? 1455 01:18:50,939 --> 01:18:53,358 - We gotta get back in. - Where's the stock at right now? 1456 01:18:54,109 --> 01:18:55,110 109. 1457 01:18:55,611 --> 01:18:56,653 Are you sure? 1458 01:18:57,154 --> 01:18:59,907 That's like all of the money that we made back into the stock. 1459 01:19:03,785 --> 01:19:06,288 Yeah. We can't let them get away with this. 1460 01:19:08,373 --> 01:19:09,208 Fuck 'em. 1461 01:19:09,791 --> 01:19:11,001 If he's in, I'm in. 1462 01:19:11,877 --> 01:19:13,086 If he's in, I'm in. 1463 01:19:16,590 --> 01:19:17,591 Okay. 1464 01:19:19,259 --> 01:19:20,219 Fuck! 1465 01:19:26,266 --> 01:19:30,896 {\an8}The frenzy continues with retail investors bidding back up GameStop. 1466 01:19:30,896 --> 01:19:33,023 - Meme stock mania is back. - ...up more than 80% 1467 01:19:33,023 --> 01:19:35,609 as those message board traders simply sent it higher. 1468 01:19:35,609 --> 01:19:37,277 Stock volatility continuing, 1469 01:19:37,277 --> 01:19:40,155 it looks like this morning once again GameStop are involved in 1470 01:19:40,155 --> 01:19:43,575 an ongoing battle between retail investors and short sellers. 1471 01:19:43,575 --> 01:19:45,118 We're gonna have a lot more on this story. 1472 01:19:45,118 --> 01:19:46,495 {\an8}CEOs of Robinhood, Reddit, Citadel 1473 01:19:46,495 --> 01:19:48,205 {\an8}and Melvin Capital. 1474 01:19:48,205 --> 01:19:51,625 {\an8}Along with Keith Gill, better known as Roaring Kitty 1475 01:19:51,625 --> 01:19:55,003 on social media, will be in the hot seat. 1476 01:19:59,466 --> 01:20:02,553 I'm here testifying today far removed from my background. 1477 01:20:02,553 --> 01:20:05,639 I grew up in a middle-class family in Portland, Maine. 1478 01:20:05,639 --> 01:20:07,307 My dad was a grocery store executive. 1479 01:20:07,307 --> 01:20:08,767 Maybe leave that part out. 1480 01:20:10,102 --> 01:20:11,186 The part about my dad? 1481 01:20:11,186 --> 01:20:12,312 The executive part. 1482 01:20:12,312 --> 01:20:13,897 Okay... okay. 1483 01:20:17,234 --> 01:20:21,697 I went to a public high school. I studied hard and got into Northwestern. 1484 01:20:21,697 --> 01:20:23,782 - Just say "a good college." - Upon... 1485 01:20:23,782 --> 01:20:25,367 I can't say I went to Northwestern? 1486 01:20:25,367 --> 01:20:27,244 - Too elite. - Northwestern's too... 1487 01:20:27,911 --> 01:20:28,745 All right. 1488 01:20:32,749 --> 01:20:37,337 Upon graduation, I did not have a job. Today, I'm married with four children. 1489 01:20:37,337 --> 01:20:39,590 Gabe, where do you plan on doing your testimony? 1490 01:20:41,967 --> 01:20:44,720 - Here. - In front of your wine collection? 1491 01:20:46,763 --> 01:20:49,933 I mean, this is... I don't have that big of a wine collection honestly. 1492 01:20:49,933 --> 01:20:50,976 Yeah, it's huge. 1493 01:20:50,976 --> 01:20:52,895 Digital risks seem to be overblown. 1494 01:20:52,895 --> 01:20:55,397 Two, the negative sentiment is overdone. 1495 01:20:55,397 --> 01:20:59,193 - Three, the value... - Maybe... here would be nice. 1496 01:21:02,487 --> 01:21:04,489 - Too many windows. - Too many windows... Oh. 1497 01:21:04,489 --> 01:21:05,657 It's very bright. 1498 01:21:05,657 --> 01:21:08,827 - Yeah, ocean front's not a great idea. - It's blue. 1499 01:21:08,827 --> 01:21:11,371 Yeah. Okay, I hadn't thought of that. That... 1500 01:21:11,371 --> 01:21:12,956 Yeah, downstairs there's more... 1501 01:21:12,956 --> 01:21:14,208 - there's probably darker rooms. - What a bandit. 1502 01:21:14,208 --> 01:21:17,294 Most of you know this guy, who is the Roaring Kitty character, 1503 01:21:17,294 --> 01:21:18,754 - who was really pushing it. - Holy shit. 1504 01:21:18,754 --> 01:21:20,797 - You know, voicing the information. - Yo, Riri, our boy's on the news. 1505 01:21:20,797 --> 01:21:22,716 And what's the potentially systemic risk? 1506 01:21:22,716 --> 01:21:25,052 Those relationships in D.C. are strong. 1507 01:21:25,052 --> 01:21:29,181 The guys who run those hedge funds are the guys who fund presidential campaigns. 1508 01:21:29,181 --> 01:21:31,141 - You know Roaring Kitties don't have - That's a good point. 1509 01:21:31,141 --> 01:21:32,559 - that kind of influence, - Gill is now being sued 1510 01:21:32,559 --> 01:21:33,644 - but the hedge fund managers do. - for securities fraud 1511 01:21:33,644 --> 01:21:35,979 over his alleged role in the GameStop rally. 1512 01:21:35,979 --> 01:21:38,857 {\an8}Is Mr Gill likely to appear, and if he appears, 1513 01:21:38,857 --> 01:21:43,028 {\an8}is he likely to talk if he faces the potential of prosecution? 1514 01:21:43,028 --> 01:21:48,033 Fundamentals are based on three things: One, digital risks are overblown. 1515 01:21:48,033 --> 01:21:49,952 Two, the negative sentiment is overdone. 1516 01:21:49,952 --> 01:21:51,161 And three... 1517 01:21:54,873 --> 01:21:55,707 Fuck. 1518 01:21:55,707 --> 01:21:57,918 - Ah, c'mon, shut up. - I know all this. 1519 01:21:59,419 --> 01:22:01,839 You guys, you guys, stop. Stop, let's keep going. 1520 01:22:01,839 --> 01:22:03,841 - All right, let's go again. - You're right, this is serious. 1521 01:22:03,841 --> 01:22:05,300 You can go to jail forever. 1522 01:22:05,300 --> 01:22:06,927 - A long time. Long, long time. - All right. You ready? 1523 01:22:06,927 --> 01:22:08,887 You ready here we go. Back in the game. 1524 01:22:08,887 --> 01:22:11,473 Mr Gill. Mr Gill, may I call you Mr Gill, sir? 1525 01:22:11,473 --> 01:22:13,600 - It's my name. - Why the fuck wouldn't you be able 1526 01:22:13,600 --> 01:22:14,935 - to call him Mr Gill? - What were your intentions 1527 01:22:14,935 --> 01:22:18,146 with the YouTube videos and your social media posts on GameStop? 1528 01:22:18,146 --> 01:22:19,731 - Yes. - Thank you, congresswoman. 1529 01:22:19,731 --> 01:22:20,649 You're welcome. 1530 01:22:20,649 --> 01:22:23,235 I developed a theory that the company was undervalued 1531 01:22:23,235 --> 01:22:25,153 despite the significant short interest. 1532 01:22:25,153 --> 01:22:27,155 Oh, so you were aware of the short interest. 1533 01:22:27,155 --> 01:22:28,532 It is public knowledge. 1534 01:22:28,532 --> 01:22:29,741 You can see it in the SEC filings. 1535 01:22:29,741 --> 01:22:31,493 And your goal was to break these shorts, yes? 1536 01:22:31,493 --> 01:22:35,706 To rally an online mob to artificially push the price of GameStop soaring, 1537 01:22:35,706 --> 01:22:39,084 ah, "to the moon" as they say, isn't that correct, Mr Gill? 1538 01:22:39,084 --> 01:22:40,252 Objection, objection, 1539 01:22:40,252 --> 01:22:41,378 - you're leading the witness. - Kev... 1540 01:22:41,378 --> 01:22:43,547 - Witness. - I yield my time to the chair. 1541 01:22:43,547 --> 01:22:45,174 You were hoping for the short squeeze, 1542 01:22:45,174 --> 01:22:46,967 - weren't you, Mr Gill? - You short squeezing bastard. 1543 01:22:46,967 --> 01:22:48,719 The short squeeze was a marginal 1544 01:22:48,719 --> 01:22:50,220 - point of the thesis. - Then why did you talk about it 1545 01:22:50,220 --> 01:22:51,889 - in your videos all the time? - You did talk about it in your videos. 1546 01:22:51,889 --> 01:22:53,056 You talked about it a lot. 1547 01:22:53,056 --> 01:22:54,600 - You remember about the squeeze. - Exactly. 1548 01:22:54,600 --> 01:22:55,809 You were like "It's just a little squeeze." 1549 01:22:55,809 --> 01:22:56,810 Exactly. 1550 01:22:56,810 --> 01:22:59,354 Are you really asking us to believe that you weren't a leader 1551 01:22:59,354 --> 01:23:01,565 - to all these retail traders? - You're fucked, buddy. 1552 01:23:01,565 --> 01:23:03,734 - My point of view... - Asking. Yes or no? 1553 01:23:03,734 --> 01:23:05,235 - Yes or no? - Yes. So yes. 1554 01:23:05,235 --> 01:23:06,445 - Yes or no? - You are admitting it. Yes. 1555 01:23:06,445 --> 01:23:07,863 Remember you with a cheap bottle of champagne. 1556 01:23:07,863 --> 01:23:09,072 At any moment... Kevin! 1557 01:23:09,072 --> 01:23:10,115 - Kevin! - Dunking tendies like a fucking-- 1558 01:23:10,115 --> 01:23:11,033 What? 1559 01:23:12,326 --> 01:23:14,703 I'm running with my dick out. 1560 01:23:15,787 --> 01:23:17,164 Okay, why don't you just say that? 1561 01:23:17,164 --> 01:23:18,540 Okay, I'll stop. 1562 01:23:19,333 --> 01:23:24,213 All right. Mr Gill, what exactly about the fundamentals 1563 01:23:24,213 --> 01:23:27,508 - led you to build this bull case? - What the fuck's with the voice? 1564 01:23:27,508 --> 01:23:29,843 I don't know, I was trying to do AOC, but it was flat. 1565 01:23:29,843 --> 01:23:31,136 I don't even think she's on the panel. 1566 01:23:31,136 --> 01:23:32,346 You shut the fuck up, Briggsy. 1567 01:23:32,346 --> 01:23:33,722 - I'll slap the shit out of you. - Is she on that panel? 1568 01:23:33,722 --> 01:23:34,640 - I swear to God. - You're gonna slap me? 1569 01:23:34,640 --> 01:23:36,016 - Yeah, let's go. - You ready to go? 1570 01:23:36,016 --> 01:23:38,644 - Let's go. - I've been waiting for this, dog. 1571 01:23:56,119 --> 01:23:56,954 Come here. 1572 01:24:05,712 --> 01:24:07,673 You're gonna be great. 1573 01:24:08,924 --> 01:24:11,635 If it goes bad, it's gonna be real bad. 1574 01:24:11,635 --> 01:24:13,428 Well, don't let it go bad. 1575 01:24:13,428 --> 01:24:17,683 This hearing will be first in a series of hearings by the committee 1576 01:24:17,683 --> 01:24:22,771 to examine the recent market volatility involving GameStop. 1577 01:24:22,771 --> 01:24:27,359 I want to know how each of the witnesses here today 1578 01:24:27,359 --> 01:24:29,528 - contributed to the historic... - Gabe, can you sit up? 1579 01:24:29,528 --> 01:24:32,698 trading events in January. 1580 01:24:33,240 --> 01:24:35,492 This recent market volatility 1581 01:24:35,492 --> 01:24:40,080 has put a national spotlight on institutional practises 1582 01:24:40,080 --> 01:24:41,748 by Wall Street firms. 1583 01:24:41,748 --> 01:24:45,419 And they have demonstrated the enormous potential power 1584 01:24:45,419 --> 01:24:48,130 of social media in our markets. 1585 01:24:48,714 --> 01:24:52,259 We will hear firsthand from the witnesses regarding these events. 1586 01:24:52,885 --> 01:24:57,055 The hearing will be an opportunity for this committee to get the facts 1587 01:24:57,055 --> 01:25:00,309 about the role each of the witnesses represent, 1588 01:25:00,309 --> 01:25:03,937 played in the events we are examining today. 1589 01:25:03,937 --> 01:25:06,398 Well, now, Mr Griffin, if I could just ask you this first question. 1590 01:25:06,398 --> 01:25:07,316 Of course. 1591 01:25:07,316 --> 01:25:09,484 {\an8}How many people are in the room with you? 1592 01:25:10,402 --> 01:25:11,403 That's your question? 1593 01:25:11,403 --> 01:25:13,488 If you can just count how many people are in the room with you. 1594 01:25:18,118 --> 01:25:21,622 There are five people, including myself, in this room. 1595 01:25:21,622 --> 01:25:23,290 - Did anyone in your organisation... - Such a prick. 1596 01:25:23,290 --> 01:25:25,501 since January 1st, contact Robinhood? 1597 01:25:25,501 --> 01:25:30,339 We of course talk to Robinhood routinely in the ordinary course of business. 1598 01:25:30,339 --> 01:25:32,090 We manage a substantial portion of their order flow. 1599 01:25:32,090 --> 01:25:35,052 {\an8}But did you talk to them about restricting 1600 01:25:35,052 --> 01:25:39,264 {\an8}or doing anything to prevent people from buying GameStop? 1601 01:25:39,264 --> 01:25:42,059 I want to be perfectly clear. 1602 01:25:42,059 --> 01:25:45,771 We had no role in Robinhood's decision 1603 01:25:45,771 --> 01:25:48,023 - to limit trading in GameStop. - Fuck you, Ken Griffin. 1604 01:25:48,023 --> 01:25:51,902 So, if we depose everyone in your organisation, we would find that? 1605 01:25:52,569 --> 01:25:53,487 That is correct. 1606 01:25:53,487 --> 01:25:56,114 Looks like a Disney Channel villain. 1607 01:25:56,114 --> 01:26:00,702 Mr Plotkin, do you believe that there is manipulation, distrust, 1608 01:26:00,702 --> 01:26:03,622 and overall inequality within American finance? 1609 01:26:03,622 --> 01:26:05,791 My focus is on my company, Melvin... 1610 01:26:07,543 --> 01:26:08,627 Hello? 1611 01:26:08,627 --> 01:26:10,337 You're on mute, dick! 1612 01:26:10,337 --> 01:26:11,964 Ah, I'm sorry, you're on mute. 1613 01:26:16,176 --> 01:26:17,845 He just keeps going. 1614 01:26:17,845 --> 01:26:19,680 ...my area of expertise. 1615 01:26:19,680 --> 01:26:23,433 You're still on mute. I haven't been able to hear a word you said, unfortunately. 1616 01:26:23,433 --> 01:26:25,310 Mr Tenev, would you be willing to commit today 1617 01:26:25,310 --> 01:26:27,980 - to voluntarily pass on the proceeds... - Oh. Marry me. 1618 01:26:27,980 --> 01:26:30,774 of the payment for order flow to Robinhood customers? 1619 01:26:30,774 --> 01:26:33,318 Congresswoman, I appreciate that question. 1620 01:26:33,318 --> 01:26:37,531 {\an8}When the statement you refer to was made, it was before Robinhood forced 1621 01:26:37,531 --> 01:26:39,533 {\an8}the entire industry to drop 1622 01:26:39,533 --> 01:26:41,243 {\an8}- commissions and replicate our... - I should take that as a no. 1623 01:26:41,243 --> 01:26:44,079 {\an8}You're not willing to pass on the proceeds of payment for order flow 1624 01:26:44,079 --> 01:26:45,038 to your customers? 1625 01:26:45,038 --> 01:26:47,749 {\an8}- When the other brokers drop... - I'm just talking about today. 1626 01:26:47,749 --> 01:26:48,959 - Asshole. - I don't want to be rude. 1627 01:26:48,959 --> 01:26:50,335 I just have limited time, 1628 01:26:50,335 --> 01:26:54,339 but if removing the revenues that you make from a payment for order flow 1629 01:26:54,339 --> 01:26:57,843 would cause the removal of free commissions, 1630 01:26:57,843 --> 01:26:59,636 doesn't that mean that trading on Robinhood 1631 01:26:59,636 --> 01:27:01,597 isn't actually free to begin with? 1632 01:27:01,597 --> 01:27:02,973 Good question. 1633 01:27:09,605 --> 01:27:11,857 Thank you very much, Mr Gill. 1634 01:27:11,857 --> 01:27:16,486 You are now recognised for five minutes to present your oral testimony. 1635 01:27:28,415 --> 01:27:30,876 Thank you, members of the committee. 1636 01:27:33,420 --> 01:27:36,715 I am happy to discuss my purchase of GameStop shares 1637 01:27:37,299 --> 01:27:40,677 and my discussions of their fair value on social media. 1638 01:27:41,512 --> 01:27:43,138 But before I do that, 1639 01:27:43,138 --> 01:27:45,057 a few things I am not: 1640 01:27:46,850 --> 01:27:48,060 I am not a cat. 1641 01:27:49,603 --> 01:27:51,855 - What did he say? - He just said cat, Ma. 1642 01:27:51,855 --> 01:27:54,107 - It's like a kitty thing. - Nor am I a hedge fund. 1643 01:27:54,107 --> 01:27:55,567 I do not have clients, 1644 01:27:55,567 --> 01:28:00,906 and I do not provide personalised investment advice for fees or commissions. 1645 01:28:00,906 --> 01:28:02,991 I grew up in Brockton, Mass. 1646 01:28:03,742 --> 01:28:05,619 My family was not wealthy. 1647 01:28:05,619 --> 01:28:08,956 My father was a truck driver and my mom a registered nurse. 1648 01:28:08,956 --> 01:28:11,166 - That's you, Ma! - I was one of three kids 1649 01:28:11,166 --> 01:28:14,211 and the first in my family to earn a four-year college degree 1650 01:28:14,211 --> 01:28:18,423 when I graduated from Stonehill College in 2009. 1651 01:28:18,423 --> 01:28:20,551 That was not a good time to be looking for a job. 1652 01:28:20,551 --> 01:28:23,053 From 2010-2017, 1653 01:28:23,053 --> 01:28:26,515 there were significant periods when I was unemployed. 1654 01:28:26,515 --> 01:28:28,892 I took an interest in the stock market, 1655 01:28:28,892 --> 01:28:31,186 and even though I had very little money, 1656 01:28:31,186 --> 01:28:35,399 I used those times to educate myself and learn more about investing. 1657 01:28:35,399 --> 01:28:39,361 Mr Gill, I find it hard to believe that you predicted everything 1658 01:28:39,361 --> 01:28:43,031 that happened to GameStop with no inside information. 1659 01:28:43,031 --> 01:28:44,783 I didn't predict it. 1660 01:28:44,783 --> 01:28:48,161 I honestly couldn't explain everything that happened in January. 1661 01:28:48,161 --> 01:28:49,288 I've seen your videos. 1662 01:28:49,288 --> 01:28:52,624 You honestly couldn't recount to the committee what caused 1663 01:28:52,624 --> 01:28:56,587 every single up and down of the stock in January? 1664 01:28:57,171 --> 01:28:58,297 I think you could. 1665 01:28:59,631 --> 01:29:03,010 I did follow the stock very closely, 1666 01:29:03,010 --> 01:29:06,638 but threshold lists, order flows, halting purchases, according to the press, 1667 01:29:06,638 --> 01:29:08,599 these all had a material impact on the stock. 1668 01:29:08,599 --> 01:29:11,268 Here's the thing: I have a bit of experience with this stuff, 1669 01:29:11,268 --> 01:29:13,270 and even I barely understand these matters. 1670 01:29:13,270 --> 01:29:17,149 It's alarming how little we all know about the inner workings of the market. 1671 01:29:17,149 --> 01:29:19,860 Which is why I'm glad that this committee is examining what happened, 1672 01:29:19,860 --> 01:29:22,654 particularly with the exorbitant short interest 1673 01:29:22,654 --> 01:29:25,532 as well as any potentially manipulative shorting practises 1674 01:29:25,532 --> 01:29:29,786 and brokers' reported failures to timely deliver shares and settle trades. 1675 01:29:33,081 --> 01:29:35,292 A lot of people feel the system is broken. 1676 01:29:35,292 --> 01:29:39,379 The whole idea of the stock market is to be, like, kind of a fair playing field, 1677 01:29:39,379 --> 01:29:43,217 where if you're smart, maybe with a little luck, you could make your fortune. 1678 01:29:44,092 --> 01:29:46,428 But, if it ever was that, it's certainly not any more. 1679 01:29:47,513 --> 01:29:50,849 The big firms have such a big advantage, in terms of technology and information 1680 01:29:50,849 --> 01:29:54,186 and just sheer wealth, there's no hope for the little guy anymore. 1681 01:29:54,937 --> 01:29:56,813 Or there was no hope. 1682 01:29:57,564 --> 01:29:59,608 Maybe now, there is. 1683 01:30:01,777 --> 01:30:03,237 And as for me, 1684 01:30:03,946 --> 01:30:05,113 I like the stock. 1685 01:30:06,198 --> 01:30:08,575 He's a gangster for that. 1686 01:30:08,575 --> 01:30:10,285 I don't plan on selling any time soon. 1687 01:30:10,285 --> 01:30:11,995 - Hold it. - Say that shit. 1688 01:30:11,995 --> 01:30:13,038 Diamond fucking hands. 1689 01:30:13,038 --> 01:30:14,039 Diamond hands, baby. 1690 01:30:15,165 --> 01:30:16,708 Attaboy. 1691 01:30:16,708 --> 01:30:18,085 What a nerd. 1692 01:30:18,710 --> 01:30:19,545 {\an8}Thank you. 1693 01:30:27,302 --> 01:30:29,721 It was good. I think. 1694 01:30:30,889 --> 01:30:33,892 Yesterday's Reddit hearing in Congress brought together 1695 01:30:33,892 --> 01:30:35,227 some of the power players 1696 01:30:35,227 --> 01:30:36,770 behind the January trading frenzy. 1697 01:30:36,770 --> 01:30:38,397 Representative Maxine Waters did say that 1698 01:30:38,397 --> 01:30:40,399 - there will be additional hearings - What you got here involves people... 1699 01:30:40,399 --> 01:30:42,651 - and there will be two more to follow - named you know, DFV and Roaring Kitty... 1700 01:30:42,651 --> 01:30:44,736 - to find more answers - same guy by the way, and ultimately... 1701 01:30:44,736 --> 01:30:45,654 one market expert advocate... 1702 01:30:45,654 --> 01:30:47,155 Whether it's markets or social media, 1703 01:30:47,155 --> 01:30:49,241 or I'll just call it media because that's what it is now. 1704 01:30:49,241 --> 01:30:51,159 Do you think any new regulation gets done? 1705 01:30:51,159 --> 01:30:53,328 What's clear is that we're in the Wild West 1706 01:30:53,328 --> 01:30:56,498 and that there is so much activity that's going on, on these online forums. 1707 01:30:56,498 --> 01:30:59,793 And we've seen in the last month and the last six weeks how much force 1708 01:30:59,793 --> 01:31:03,422 day traders en masse can bring to the market and actually affect it. 1709 01:31:03,422 --> 01:31:05,174 They used to just make some noise around the edges. 1710 01:31:05,174 --> 01:31:07,968 Now they can actually move markets, move securities. 1711 01:31:39,750 --> 01:31:40,876 Cheers, everyone. 1712 01:31:57,392 --> 01:31:58,936 You're a fucking gangster. 1713 01:32:18,580 --> 01:32:20,916 Hey, man, I notice you've been selling a lot of new games, 1714 01:32:20,916 --> 01:32:24,378 and I just wanted to remind you, again, that we really wanna be pushing customers 1715 01:32:24,378 --> 01:32:26,964 towards the higher-margin pre-owned games. 1716 01:32:28,006 --> 01:32:29,967 Yeah, I'm not gonna do that. 1717 01:32:29,967 --> 01:32:30,926 Excuse me? 1718 01:32:30,926 --> 01:32:33,595 Oh, and in fact, I'm not gonna do any of the Circle of Life bullshit. 1719 01:32:33,595 --> 01:32:35,055 Or your TikTok dance contest. 1720 01:32:35,055 --> 01:32:36,139 You're quitting, then. 1721 01:32:38,100 --> 01:32:39,101 Okay. 1722 01:32:39,101 --> 01:32:40,936 No, I mean, I thought about it, but... 1723 01:32:41,937 --> 01:32:43,730 Like, yo, I love it here. 1724 01:32:43,730 --> 01:32:45,482 So I think I'm gonna stay. 1725 01:32:45,482 --> 01:32:49,027 Well, you're awfully smug for a kid who lost all his money buying stock. 1726 01:32:49,528 --> 01:32:51,947 What did you say it was going to? A thousand? 1727 01:32:53,198 --> 01:32:55,701 I'm also not gonna work at the ass crack of dawn any more. 1728 01:32:56,827 --> 01:32:57,703 You're fired. 1729 01:32:59,621 --> 01:33:00,873 No, I'm not. 1730 01:33:00,873 --> 01:33:03,667 You gotta get that approved by like seven levels of people, yo. 1731 01:33:04,168 --> 01:33:06,712 Thanks to the geniuses who put that together. 1732 01:33:06,712 --> 01:33:08,755 The ones who used to own my ass. 1733 01:33:09,256 --> 01:33:10,257 You sold? 1734 01:33:11,550 --> 01:33:12,384 Half. 1735 01:33:13,719 --> 01:33:15,679 Right at the tippy tippy top. 1736 01:33:15,679 --> 01:33:18,515 And I'm holding the other half for the long haul. 1737 01:33:18,515 --> 01:33:20,350 'Cause I'm a savage 1738 01:33:20,851 --> 01:33:23,437 Classy, bougie, ratchet 1739 01:33:23,979 --> 01:33:26,815 Sassy, moody, nasty 1740 01:33:26,815 --> 01:33:29,484 Acting stupid what was happening 1741 01:34:09,942 --> 01:34:11,193 Fuck yeah! 1742 01:34:11,735 --> 01:34:14,488 I'm here testifying today far removed from my background. 1743 01:34:14,488 --> 01:34:16,782 I grew up in a middle-class family in Portland, Maine. 1744 01:34:16,782 --> 01:34:18,450 I went to a public high school. 1745 01:34:18,450 --> 01:34:20,869 I studied hard and got into a good college. 1746 01:34:20,869 --> 01:34:23,413 Upon graduation, I did not have a job. 1747 01:34:26,583 --> 01:34:32,464 When the statement you refer to was made, I believe 2015 or 2016, 1748 01:34:32,464 --> 01:34:35,551 it was before Robinhood forced the entire industry 1749 01:34:35,551 --> 01:34:38,303 - to drop commissions and replicate our... - I should take that as a no. 1750 01:34:38,303 --> 01:34:41,223 You're not willing to pass on the proceeds of payment for order flow 1751 01:34:41,223 --> 01:34:42,432 to your customers? 1752 01:34:51,525 --> 01:34:56,822 But did you talk to them about restricting or doing anything to prevent people 1753 01:34:56,822 --> 01:35:00,242 from buying, not selling but buying, in GameStop? 1754 01:35:00,242 --> 01:35:02,369 Let me be perfectly clear. 1755 01:35:03,120 --> 01:35:05,414 Absolutely not. 1756 01:35:30,230 --> 01:35:32,357 As for me, I like the stock. 1757 01:35:35,110 --> 01:35:36,570 Hurry up, dick, it's cold. 1758 01:35:37,446 --> 01:35:39,114 I can't believe you're my brother. 1759 01:35:39,114 --> 01:35:40,532 You look like a fucking Ninja Turtle. 1760 01:35:40,532 --> 01:35:42,242 - Ready? - Yup. 1761 01:35:43,076 --> 01:35:44,494 - Set... What? - Fuck you! 1762 01:35:44,494 --> 01:35:45,412 Kevin! 1763 01:35:47,789 --> 01:35:48,749 C'mon, Kitty!