Eat the Rich: The GameStop Saga is a three part documentary series directed by Theo Love. It is in its first season, and we suspect there will be a second.
Buy, sell, short, trade, save a ‘failing’ company under attack by the sharks at Wall Street, the biggest casino – the Reddit folk came to the rescue.
About the Series
Think back about a couple of years or so. Remember one of the headlines about how Wall Street got played? The GameStop phenomenon, when individual traders, the “lay” people, set out to save a video game store chain, motivated by a combination of nostalgia and spite, from being shorted to death by the sharks in Wall Street.
This series covers what led up to the reaction of the internet-connected masses to the hedge funds’ cut-throat, relentless dealings.
It explains how hedge funds work, what short-selling is, and all their maneuvers that they so skillfully, and for so long, camouflaged in fancy terminology. And presents some of the small time traders that took part in driving Wall Street crazy for a couple of days. Of course, Elon is mentioned. GameStop stocks skyrocketed, then the buy option for this stock vanished – they could not be bought, only sold…. and obviously the value of this stock plummeted as a result. Who was behind this? Was there a single culprit? Was there a culprit at all? Enter Robinhood and Citadel Securities….
Loaded with interviews with professionals in the financial sector, and individual small investors who from their homes, played the Wall Street game from the outside its inner circle.
In three 40 minute episodes it gives us very complete run through of the saga – yes, it was a saga. It is a very amusing in its presentation narrated in a catchy, chummy tone by Guy Raz, with entertaining interviews, and a good dose of schadenfreude initially, it slowly but surely becomes informative.
Release Date
September 28, 2022.
Where to Watch
The streaming platform we follow “religiously” Netflix
Sources used to collect complete information about gambling: bitcoincasinotop.com
Interesting Headlines Concerning Robinhood and GameStop
Robinhood suffers harshest hangover after pandemic stock trading boom
Financial Times: August 10, 2022
Boston Consulting Group sues GameStop claiming $30mn in unpaid fees
Financial Times: March 23 2022
A year on, we haven’t absorbed the lessons of the GameStop saga
Financial Times: January 19, 2022