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Would you like to inspect the original subtitles? These are the user uploaded subtitles that are being translated: 1 00:01:11,323 --> 00:01:13,742 So, I'm here. 2 00:01:13,742 --> 00:01:17,912 - And, I do not see anything happening. - Right. 3 00:01:17,912 --> 00:01:19,748 - Right. - At all. 4 00:01:19,748 --> 00:01:20,832 Look, I'm very sorry, sir. 5 00:01:20,832 --> 00:01:24,044 Guess what I'm trying to understand is, what is the reason for this delay exactly? 6 00:01:24,044 --> 00:01:26,254 - Yeah. Mr. Plotkin, I'm so sorry. - Specifically. 7 00:01:26,254 --> 00:01:29,758 - But it's just that when we set out... - Yeah, we closed in November. 8 00:01:29,758 --> 00:01:32,093 We had all the permit applications in before the end of the year. 9 00:01:32,093 --> 00:01:33,845 Right. Once we get the final stamp of approval. 10 00:01:33,845 --> 00:01:35,388 And we can't get the trucks here a little early? 11 00:01:35,388 --> 00:01:37,265 - Just, you know, get 'em started. - Miami Beach ordinances... 12 00:01:37,265 --> 00:01:38,683 - won't let me do that. - Is anyone actually... 13 00:01:38,683 --> 00:01:40,769 - ...enforcing those regulations? - Look, Mr. Plotkin, 14 00:01:40,769 --> 00:01:42,395 I know that you're eager to move in. Okay. 15 00:01:42,395 --> 00:01:44,105 - Once we get the final stamp of approval. - No. 16 00:01:44,105 --> 00:01:45,565 - You're gonna be the first... - One second. 17 00:01:45,565 --> 00:01:46,691 Sure. 18 00:01:47,192 --> 00:01:48,276 Hello? 19 00:01:49,861 --> 00:01:53,114 You see what's going on at GME? 20 00:01:53,114 --> 00:01:54,741 There's more of these idiots? 21 00:01:54,741 --> 00:01:57,702 ...the short sellers, now they're getting creamed by the little guy... 22 00:01:57,702 --> 00:01:58,870 A lot more. 23 00:01:58,870 --> 00:02:00,413 They won't hold much longer. 24 00:02:00,413 --> 00:02:01,539 Go away. 25 00:02:02,415 --> 00:02:04,667 Oh Gabe, honey, they're holding. 26 00:02:05,668 --> 00:02:07,837 It just crossed a hundred. 27 00:02:07,837 --> 00:02:10,173 Gabe, where are you? 28 00:02:10,173 --> 00:02:11,341 Fuck! 29 00:02:11,341 --> 00:02:13,134 You should probably dial in. 30 00:02:13,134 --> 00:02:14,427 Yeah, be on in one sec. 31 00:02:16,096 --> 00:02:18,681 ♪ There's some whores in this house ♪ 32 00:02:18,681 --> 00:02:21,101 - ♪ I said, certified freak ♪ - ♪ Hold up! ♪ 33 00:02:21,101 --> 00:02:23,019 ♪ Seven days a week ♪ 34 00:02:23,019 --> 00:02:26,356 ♪ Wet-ass pussy Make that pull-out game weak ♪ 35 00:02:26,356 --> 00:02:29,109 - ♪ Whoo! Yeah, yeah ♪ - ♪ There's some whores in this house ♪ 36 00:02:29,109 --> 00:02:31,486 ♪ Yeah, you fucking With some wet-ass pussy... ♪ 37 00:02:31,486 --> 00:02:34,572 I will tell you I've never seen anything like it. I'm concerned about it. 38 00:02:34,572 --> 00:02:36,533 I'm calling it the ultimate short squeeze. 39 00:02:36,533 --> 00:02:38,827 You can lose money to infinity. 40 00:02:38,827 --> 00:02:42,372 It's very different, more highly leveraged game on the other side. 41 00:02:42,372 --> 00:02:43,665 ♪ Put this pussy... ♪ 42 00:02:43,665 --> 00:02:44,958 Holy fucking shit. 43 00:02:44,958 --> 00:02:46,042 ♪ Like a credit card... ♪ 44 00:02:46,042 --> 00:02:48,878 Right now we're gonna talk about GameStop. Those shares... 45 00:02:48,878 --> 00:02:52,090 - are nonstop earning of about 130% today. - Holy fucking shit! 46 00:02:52,090 --> 00:02:53,800 - Holy shit! - What the... 47 00:02:53,800 --> 00:02:55,051 ...fuck! 48 00:02:55,051 --> 00:02:56,803 ♪ Let's role play, I'll wear a disguise ♪ 49 00:02:56,803 --> 00:02:59,556 ♪ I want you to park that big Mack truck Right in this little garage ♪ 50 00:02:59,556 --> 00:03:00,723 Holy shit. 51 00:03:00,723 --> 00:03:02,475 - Yes. Hello? - Great news, Mr. Plotkin. 52 00:03:02,475 --> 00:03:04,519 I think we'll be able to get you into your new home 53 00:03:04,519 --> 00:03:05,895 a little sooner than I actually thought. 54 00:03:05,895 --> 00:03:08,106 I think we're having some sort of miscommunication here. 55 00:03:08,106 --> 00:03:09,732 Because I'm not trying to move into that house. 56 00:03:09,732 --> 00:03:12,444 I'm trying to tear that house down so I can build a tennis court 57 00:03:12,444 --> 00:03:14,446 for me and my family to play during the pandemic. 58 00:03:14,446 --> 00:03:15,947 - I see. - I thought it would be very simple. 59 00:03:15,947 --> 00:03:17,907 Apparently, it isn't because the pandemic is almost over 60 00:03:17,907 --> 00:03:19,534 - and there's no tennis court. - Okay, Mr. Plotkin. 61 00:03:19,534 --> 00:03:20,952 Thank you for your time. 62 00:03:20,952 --> 00:03:22,704 Yes, what? Hello? 63 00:03:22,704 --> 00:03:25,540 Hi, it's Ken Griffin. 64 00:03:31,087 --> 00:03:33,089 Hi there, Ken, how are you? Great to hear from you. 65 00:03:34,591 --> 00:03:35,675 Do you have a minute? 66 00:03:37,635 --> 00:03:38,803 I, uh... 67 00:03:39,471 --> 00:03:40,305 Um... 68 00:03:40,305 --> 00:03:42,891 I gotta call you right back. If that's okay. I'm so sorry. 69 00:03:44,100 --> 00:03:45,435 - Sure. - Okay, great. 70 00:03:46,978 --> 00:03:48,563 Hi. What's happening right now? 71 00:03:48,563 --> 00:03:51,065 It looks like there's one guy driving all the buying. 72 00:03:51,065 --> 00:03:52,400 What... what... what guy? 73 00:03:53,485 --> 00:03:55,862 I believe his name is "Roaring Kitty." 74 00:03:55,862 --> 00:03:57,405 ♪ There's some whores in this house ♪ 75 00:03:57,405 --> 00:03:59,824 ♪ Yeah, you fucking With some wet-ass pussy... ♪ 76 00:03:59,824 --> 00:04:01,159 Oh, wait, or... 77 00:04:01,159 --> 00:04:02,952 ♪ This wet-ass pussy... ♪ 78 00:04:02,952 --> 00:04:04,871 "Deep Fucking Value." 79 00:04:04,871 --> 00:04:07,499 "Roaring Kitty" or "Deep Fucking Value." What? 80 00:04:08,458 --> 00:04:11,586 He's "Roaring Kitty" on YouTube and "Deep Fucking Value" on Reddit. 81 00:04:11,586 --> 00:04:14,130 Both? He couldn't pick one name? 82 00:04:14,130 --> 00:04:15,882 I don't know. I love this guy. 83 00:04:15,882 --> 00:04:17,634 ♪ That's some wet-ass pussy ♪ 84 00:04:17,634 --> 00:04:19,469 ♪ Macaroni in a pot ♪ 85 00:04:19,469 --> 00:04:21,095 ♪ That's some wet-ass pussy 86 00:04:21,095 --> 00:04:23,056 - ♪ Ha ♪ - ♪ There's some whores in this house... ♪ 87 00:04:23,056 --> 00:04:24,432 Who is this schmuck? 88 00:04:24,432 --> 00:04:26,309 I don't know, but I think I just came. 89 00:05:32,000 --> 00:05:34,294 - Uh, Ruby... Ruby, right? - Yeah. 90 00:05:34,294 --> 00:05:37,171 - Can I get a couple of Heinies, please? - Uh, one. Sorry, uh... 91 00:05:37,755 --> 00:05:40,008 - I'm gonna have a... - What? What's wrong with a Heinie? 92 00:05:40,008 --> 00:05:41,509 Drinking it since we were 17! 93 00:05:41,509 --> 00:05:43,595 Hey, drink what you like. No judgment. 94 00:05:43,595 --> 00:05:45,263 Uh, you have a Hamm's? 95 00:05:45,263 --> 00:05:47,849 - I'll have one of those. - The fuck did you just order? 96 00:05:47,849 --> 00:05:50,727 Oh, it's a nice one outta Milwaukee. Good quality. 97 00:05:50,727 --> 00:05:53,605 - Fifty cents a can before markup. - C'mon, Kitty. Forget about price. 98 00:05:53,605 --> 00:05:54,897 Get him a Heineken, thank you. 99 00:05:54,897 --> 00:05:56,357 - It's on me. - Thanks, man. 100 00:05:56,357 --> 00:05:59,068 Thank you, that's nice. I'll have a Hamm's. 101 00:05:59,068 --> 00:06:00,695 So a Heineken and a Hamm's? 102 00:06:00,695 --> 00:06:01,821 Thank you. 103 00:06:01,821 --> 00:06:03,031 Please. 104 00:06:03,031 --> 00:06:04,365 Thank you, Ruby. 105 00:06:09,996 --> 00:06:10,997 How you been, man? 106 00:06:10,997 --> 00:06:13,124 The whole Sara thing. 107 00:06:13,124 --> 00:06:16,336 Oh, yeah. Okay, uh... 108 00:06:16,336 --> 00:06:17,795 Up and down. 109 00:06:18,379 --> 00:06:19,505 Yeah. 110 00:06:21,215 --> 00:06:22,800 - How's your asshole brother? - Still an asshole. 111 00:06:22,800 --> 00:06:24,594 - Okay. - Yeah. 112 00:06:25,178 --> 00:06:26,804 - Keeping busy at least? - Uh... 113 00:06:26,804 --> 00:06:29,932 Got the day job at MassMutual. Working on my portfolio. 114 00:06:29,932 --> 00:06:32,352 That's the last thing you should be worrying about right now. 115 00:06:32,852 --> 00:06:34,812 Why? It's a... It's a good distraction. 116 00:06:34,812 --> 00:06:36,147 Lemme take that over for you. 117 00:06:36,147 --> 00:06:37,732 We got thousands of analysts at B of A 118 00:06:37,732 --> 00:06:40,193 - that do just this. C'mon, Kitty. - All good, man. Thank you. 119 00:06:40,193 --> 00:06:41,736 You should be focused on your family right now. 120 00:06:41,736 --> 00:06:43,237 Not fucking around with penny stocks. 121 00:06:43,237 --> 00:06:45,948 They're not all penny stocks. GameStop isn't a penny stock. 122 00:06:45,948 --> 00:06:47,450 GameStop? 123 00:06:47,450 --> 00:06:48,910 - Dude... - You used to love GameStop! 124 00:06:48,910 --> 00:06:52,080 - Yeah, then I grew up. - Well, I think it's undervalued. 125 00:06:52,664 --> 00:06:54,666 I just sold off a bunch of other shit to double down. 126 00:06:54,666 --> 00:06:56,626 How much are we talking? A grand? 127 00:06:56,626 --> 00:06:57,752 - Fifty. - Bucks? 128 00:06:57,752 --> 00:06:58,878 Grand. 129 00:06:58,878 --> 00:07:00,004 53 grand. 130 00:07:00,004 --> 00:07:01,964 Yeah. 131 00:07:06,594 --> 00:07:07,512 Kitty... 132 00:07:09,389 --> 00:07:11,599 - Man, you don't even own a house. - It's got a ton of short interest, 133 00:07:11,599 --> 00:07:13,434 - You got a one-year-old. - which is artificially pushing... 134 00:07:13,434 --> 00:07:14,852 - Jesus, bro. - the price down. 135 00:07:14,852 --> 00:07:17,313 - You never bet against Wall Street! - Wall Street gets it wrong all the time. 136 00:07:17,313 --> 00:07:18,856 - Look at '08. - That was a one-off, Kitty. 137 00:07:18,856 --> 00:07:20,316 These guys, they have all the money 138 00:07:20,316 --> 00:07:22,443 and the fancy degrees and the political juice in the world, 139 00:07:22,443 --> 00:07:24,654 - and they get it wrong all the time. - Are you out of your fucking mind? 140 00:07:24,654 --> 00:07:27,448 They've got the advantage, and they still get it wrong. 141 00:07:29,075 --> 00:07:31,619 No, gimme that, I'm drinking it. Even if it's 50 cents. 142 00:07:31,619 --> 00:07:32,704 It's 4 bucks. 143 00:07:32,704 --> 00:07:34,789 Well, my man just spent 53K on a penny stock. 144 00:07:34,789 --> 00:07:36,666 So, all he can afford is water. 145 00:07:36,666 --> 00:07:39,168 - You're a Wall Street guy? - Very much no. 146 00:07:39,168 --> 00:07:40,712 I'm a Wall Street guy. 147 00:07:40,712 --> 00:07:42,213 What was the stock? 148 00:07:43,464 --> 00:07:44,549 GameStop. 149 00:07:45,925 --> 00:07:47,260 The video game store. At the mall. 150 00:07:47,260 --> 00:07:50,847 - You really bought $53,000 of it? - Yeah, I don't believe it. 151 00:07:50,847 --> 00:07:53,015 I think he's fucking with us. You're fucking with us, right? 152 00:07:53,015 --> 00:07:54,726 You don't even have 50 grand. 153 00:07:54,726 --> 00:07:55,893 Let's see. 154 00:07:58,312 --> 00:07:59,439 Oh, shit. 155 00:08:01,524 --> 00:08:03,443 How is she falling for this? How are you falling for this? 156 00:08:03,443 --> 00:08:05,820 He won't spend 5 bucks for a beer, 157 00:08:05,820 --> 00:08:09,240 but he'll put 50k in a stock that you think is a joke. 158 00:08:09,240 --> 00:08:10,825 And that's interesting to you? 159 00:08:11,701 --> 00:08:12,785 Yeah. 160 00:08:13,995 --> 00:08:15,121 It is. 161 00:08:21,085 --> 00:08:22,670 Drink your shitty beer. 162 00:08:32,054 --> 00:08:33,097 Hey! 163 00:08:33,097 --> 00:08:34,223 Hey! 164 00:08:36,642 --> 00:08:38,186 Bedtime's already done? 165 00:08:38,186 --> 00:08:41,564 Yeah, she was exhausted. She skipped her nap. 166 00:08:43,357 --> 00:08:44,901 - How was Briggsy? - Uh... 167 00:08:44,901 --> 00:08:46,360 Good. Yeah. 168 00:08:54,660 --> 00:08:56,412 You guys talk about Sara? 169 00:08:58,331 --> 00:08:59,290 Uh... 170 00:09:02,835 --> 00:09:04,504 Do you wanna sit down a minute? 171 00:09:04,504 --> 00:09:06,672 I'll feel better if I finish these first. 172 00:09:07,632 --> 00:09:09,884 No, you won't. 173 00:09:35,284 --> 00:09:36,285 Do you think I'm insane? 174 00:09:36,285 --> 00:09:37,620 Yeah. 175 00:09:38,913 --> 00:09:40,540 Sorry. About what? 176 00:09:41,707 --> 00:09:42,834 GameStop. 177 00:09:42,834 --> 00:09:45,586 The most compelling asymmetric opportunity in the market? 178 00:09:47,713 --> 00:09:50,007 - What, did Briggsy make you jumpy? - A little. 179 00:09:50,007 --> 00:09:52,134 - What was his argument? - He didn't have one. 180 00:09:52,134 --> 00:09:54,720 - Well. - He just said it was a reckless bet. 181 00:09:54,720 --> 00:09:57,098 He said "you're putting your money in the next Blockbuster." 182 00:09:57,098 --> 00:09:58,015 Enough. Fuck Briggsy. 183 00:09:58,015 --> 00:10:01,394 Babe, you literally know more about this damn company than you know about me. 184 00:10:01,853 --> 00:10:02,770 It's true. 185 00:10:02,770 --> 00:10:05,773 And because of you, I know more about this company than I know about myself. 186 00:10:05,773 --> 00:10:09,569 But what if I'm missing something? We can't afford to miss something. 187 00:10:10,903 --> 00:10:12,655 It's all our savings. 188 00:10:13,364 --> 00:10:14,532 Go do a video. 189 00:10:15,825 --> 00:10:17,660 I can finish these first. I'm happy to... 190 00:10:17,660 --> 00:10:19,787 Go see what the nerds have to say. 191 00:10:19,787 --> 00:10:22,456 Our Wall Street Bets people aren't nerds, Caroline. 192 00:10:22,456 --> 00:10:24,959 They're gangsters. You make a dumb case and post it, 193 00:10:24,959 --> 00:10:27,378 - they'll rip you apart. - Well, then don't make a dumb case. 194 00:10:46,522 --> 00:10:48,024 Okay, let's see what's new. 195 00:10:50,985 --> 00:10:53,029 Oh, there's a share. Okay, here we go. 196 00:10:55,948 --> 00:10:57,241 Oh shit. 197 00:11:20,598 --> 00:11:22,058 All right... 198 00:11:22,850 --> 00:11:25,436 Just check on... See here. 199 00:11:35,738 --> 00:11:38,491 Yo, what up, everybody? Roaring Kitty here. 200 00:11:38,491 --> 00:11:41,619 Uh, I've done a few of these now, mostly on my investing methodology. 201 00:11:41,619 --> 00:11:44,455 Uh, but today I'm gonna try something a little different. 202 00:11:44,455 --> 00:11:47,875 I appreciate the feedback you guys have been leaving me by the way. 203 00:11:47,875 --> 00:11:51,545 Uh... Oh! More feedback comin' in hot. 204 00:11:51,545 --> 00:11:55,341 "Less cats." Okay. Great. 205 00:11:55,341 --> 00:11:58,970 Ah, like I was saying-- Uh, what was I saying? 206 00:11:58,970 --> 00:11:59,929 Ah, I'm gonna try... 207 00:11:59,929 --> 00:12:02,139 Oh, and here's one from Ballz. 208 00:12:02,139 --> 00:12:03,641 "Nerd." 209 00:12:03,641 --> 00:12:05,643 And nerd is in all capitals. 210 00:12:05,643 --> 00:12:09,689 Like, okay, that's kinda mean. But okay, fair. 211 00:12:09,689 --> 00:12:10,773 Uh... 212 00:12:10,773 --> 00:12:12,775 "Nice shirt, Grandpa"? 213 00:12:12,775 --> 00:12:16,070 What? How old do you think I am? 214 00:12:16,070 --> 00:12:17,029 You know what? 215 00:12:17,029 --> 00:12:20,157 Thanks for the comments. We're gonna come back to them at the end. 216 00:12:20,157 --> 00:12:21,450 Here's what I wanna talk about. 217 00:12:22,326 --> 00:12:25,579 Uh, I'm gonna pick a stock and talk about why I think it's interesting. 218 00:12:25,579 --> 00:12:27,540 And that stock is... 219 00:12:28,958 --> 00:12:30,960 GameStop. Uh... 220 00:12:31,752 --> 00:12:33,129 I know it's a polarizing stock 221 00:12:33,129 --> 00:12:35,631 and some of you probably gonna tune out of the stream right now 222 00:12:35,631 --> 00:12:38,134 when you hear I'm bullish on GameStop. But I am. 223 00:12:38,134 --> 00:12:42,221 You can see it is now the biggest position by far in the Roaring Kitty portfolio. 224 00:12:42,221 --> 00:12:43,139 So... 225 00:12:43,139 --> 00:12:46,183 yeah, I think everyone else is crazy, and I think I'm right. 226 00:12:46,183 --> 00:12:50,730 But I've been wrong plenty of times in the past. So, uh... 227 00:12:50,730 --> 00:12:54,275 So there are a lot of aspects to this bold thesis, a lot of moving parts, 228 00:12:54,275 --> 00:12:56,777 but I boil it down to what I consider the three overs: 229 00:12:56,777 --> 00:12:59,113 The digital risks seem to me to be overblown, 230 00:12:59,113 --> 00:13:00,573 the negative sentiment is overdone, 231 00:13:00,573 --> 00:13:02,324 you can see it with the huge short interest, 232 00:13:02,324 --> 00:13:04,243 and the value is overlooked. 233 00:13:04,243 --> 00:13:06,412 Wall Street just doesn't see it. 234 00:13:07,038 --> 00:13:08,205 Why? 235 00:13:08,205 --> 00:13:11,459 Mr. Market, why? 236 00:13:12,209 --> 00:13:14,962 The hedge funds are overlooking the value in the company 237 00:13:14,962 --> 00:13:17,673 just like they overlook the people who shop there. 238 00:13:17,673 --> 00:13:20,384 They assume most people download games online now. 239 00:13:20,384 --> 00:13:24,722 But look, 25% of gamers still buy new discs from GameStop, 240 00:13:24,722 --> 00:13:27,767 and 40% buy used games from the store. 241 00:13:27,767 --> 00:13:29,727 And the market's kinda forced my hand here. 242 00:13:29,727 --> 00:13:32,688 What more can I say? I just like the stock. 243 00:13:32,688 --> 00:13:33,773 Hey! 244 00:13:34,482 --> 00:13:35,900 Shit! 245 00:13:36,942 --> 00:13:38,611 - Did I wake you? - Please stop. 246 00:13:38,611 --> 00:13:41,489 Mr. Donaldson, I need you in your bed. 247 00:13:41,489 --> 00:13:43,491 Kerin, can you please make sure Mr. Donaldson... 248 00:13:43,491 --> 00:13:45,951 I don't need to go to bed. I need a cup of coffee. 249 00:13:45,951 --> 00:13:48,829 We can get you a cup of coffee. Kerin, coffee. 250 00:13:48,829 --> 00:13:49,997 Oh! 251 00:13:50,623 --> 00:13:51,791 Well, isn't that beautiful? 252 00:13:52,374 --> 00:13:53,501 Oh shit. 253 00:13:54,835 --> 00:13:59,715 "100% short GameStop stock"? 254 00:13:59,715 --> 00:14:01,092 It's an investment video. 255 00:14:01,092 --> 00:14:03,677 Hey, Jenny, for real, 256 00:14:03,677 --> 00:14:06,514 I wouldn't take investment advice from a guy in a cat shirt. 257 00:14:06,514 --> 00:14:09,141 Oh, okay. Who do you take investment advice from? 258 00:14:09,141 --> 00:14:15,815 I don't have investments. And if I did, I'd listen to, like, a banker. 259 00:14:15,815 --> 00:14:17,316 Just the way they like it. 260 00:14:17,316 --> 00:14:21,278 "They." Oh boy. Here we go... 261 00:14:21,278 --> 00:14:22,446 Just never mind. 262 00:14:22,446 --> 00:14:23,906 No, no, no, please tell me. 263 00:14:23,906 --> 00:14:27,118 I'm dying to know what Luke Wilson from The Royal Tenenbaums 264 00:14:27,118 --> 00:14:29,745 thinks we should do with our $68,000 a year. 265 00:14:29,745 --> 00:14:30,871 Who from what? 266 00:14:30,871 --> 00:14:31,956 Ugly Björn Borg. 267 00:14:31,956 --> 00:14:33,124 Okay, fine. 268 00:14:33,124 --> 00:14:36,043 Wall Street is betting that this company is gonna fail. 269 00:14:36,043 --> 00:14:37,628 It's called shorting. 270 00:14:37,628 --> 00:14:41,215 And if it fails, well, then everybody loses their job, 271 00:14:41,215 --> 00:14:43,884 but these hedge fund assholes make a shit ton of money. 272 00:14:44,468 --> 00:14:48,222 It's bullshit. It's a bullshit way for rich people to get richer. 273 00:14:48,222 --> 00:14:49,890 How did you even find this guy? 274 00:14:49,890 --> 00:14:52,518 70,000 people have watched this video. 275 00:14:52,518 --> 00:14:54,937 He posts his balance sheets and everything. 276 00:14:54,937 --> 00:14:56,772 Wall Street Bets is going crazy over this. 277 00:14:56,772 --> 00:14:58,899 - Who? - It's an Internet forum. 278 00:14:58,899 --> 00:14:59,984 Uh-huh. 279 00:15:00,776 --> 00:15:02,027 - On Reddit. - Now, see. No, no. 280 00:15:02,027 --> 00:15:04,405 I'm not gonna do this with you. The last time you brought up Reddit, 281 00:15:04,405 --> 00:15:07,158 it was just all these oil paintings of Donald Trump on horseback. 282 00:15:07,158 --> 00:15:08,951 - You liked it. - Detestable. 283 00:15:08,951 --> 00:15:11,620 - Look. - Okay, yeah. Let's take a look. 284 00:15:11,620 --> 00:15:13,205 Um... 285 00:15:13,205 --> 00:15:15,666 "Shit's not a pump-and-dump 286 00:15:15,666 --> 00:15:19,044 if it never dumps, you fuckheads..." 287 00:15:19,044 --> 00:15:23,174 "Feed me your tears, I use it as anal lube on your wives." 288 00:15:23,174 --> 00:15:24,300 Why did you go to that one? 289 00:15:24,300 --> 00:15:27,845 Oh! Oh! Oh! "Strap on ur theta dildo 290 00:15:27,845 --> 00:15:31,974 - n start pounding." - Okay. Yes, that shit exists on here. 291 00:15:31,974 --> 00:15:35,769 But I also learned the difference between a delta squeeze and a gamma squeeze. 292 00:15:35,769 --> 00:15:37,771 And now everyone is talking about call options. 293 00:15:37,771 --> 00:15:41,317 Jenny, baby, you're never gonna find a man on there. 294 00:15:42,735 --> 00:15:44,987 And you're never gonna date Puff Daddy. 295 00:15:44,987 --> 00:15:47,406 First of all, no one has said Puff Daddy since the '90s 296 00:15:47,406 --> 00:15:49,783 and second of all, this isn't Puff Daddy. 297 00:15:50,576 --> 00:15:51,744 This is Loop Daddy. 298 00:15:52,661 --> 00:15:56,540 Okay, well, whatever Daddy he's called, he's weird looking. 299 00:15:56,540 --> 00:15:59,293 Hey, well, my guy has, what, 5 million TikTok followers. 300 00:15:59,293 --> 00:16:01,045 - How many does yours have? - I don't know. 301 00:16:01,045 --> 00:16:03,797 Quick scroll. 412. 302 00:16:03,797 --> 00:16:06,133 - Who cares? - The Internet at large. 303 00:16:06,133 --> 00:16:08,177 But hey. Least I aim high. 304 00:16:09,220 --> 00:16:11,096 I aim high. 305 00:16:19,939 --> 00:16:23,192 ♪ 21 bands for the age of 21 ♪ 306 00:16:23,192 --> 00:16:26,570 ♪ I'mma flip the funds up Then I cop the Chevy truck ♪ 307 00:16:26,570 --> 00:16:29,949 ♪ Buy her what she want And you know she show me love ♪ 308 00:16:29,949 --> 00:16:32,910 ♪ Then I roll it up Then I roll it up ♪ 309 00:16:32,910 --> 00:16:36,121 ♪ Motherfuckers wanna hate me And shame me ♪ 310 00:16:36,121 --> 00:16:39,333 ♪ Motherfuckers wanna drain me Cobain me ♪ 311 00:16:39,333 --> 00:16:42,670 ♪ All these bitches trying to chain me And blame me ♪ 312 00:16:42,670 --> 00:16:46,382 ♪ Motherfuckers wanna change me And hate me ♪ 313 00:16:46,382 --> 00:16:48,968 What up, everybody? Roaring Kitty here. 314 00:16:48,968 --> 00:16:53,931 Yo! Yo! Yo! This price action, gettin' kind of ridiculous, am I right? 315 00:16:53,931 --> 00:16:56,475 Let's see what happens. See what happens at the end of the week. 316 00:16:56,475 --> 00:16:58,727 But it's all about the trend staying intact. 317 00:16:58,727 --> 00:17:00,521 But this, this looks sick. 318 00:17:04,024 --> 00:17:05,150 Morning, Marcos! 319 00:17:05,651 --> 00:17:08,612 Shit... Yo, what's... Hey, Brad. 320 00:17:15,828 --> 00:17:19,665 Yo, um, I was wondering if could I get an advance on my pay? 321 00:17:20,291 --> 00:17:21,792 I can run it up the chain, 322 00:17:21,792 --> 00:17:24,253 but with all the cutbacks, that's unlikely. 323 00:17:25,337 --> 00:17:27,464 Oh, hey! You could do the employee TikTok contest. 324 00:17:27,464 --> 00:17:29,925 You do a lip sync, you can win 10 labor hours. 325 00:17:29,925 --> 00:17:31,635 Yeah, man, totally. 326 00:17:32,344 --> 00:17:35,306 That's dope. I was thinkin' "Savage." 327 00:17:36,682 --> 00:17:38,642 Yeah. Yeah, sure, I love it. 328 00:17:38,642 --> 00:17:41,103 Or yo, that Drake one with Lil Durk. 329 00:17:42,730 --> 00:17:43,939 That's a great one too. 330 00:17:43,939 --> 00:17:45,733 Because I know you love Lil Durk. 331 00:17:46,275 --> 00:17:47,192 C'mon. 332 00:17:47,192 --> 00:17:49,820 No, I'm gonna do Megan Thee Stallion. For sure, for sure, for sure. 333 00:17:49,820 --> 00:17:50,863 ♪ I'm a savage ♪ 334 00:17:51,572 --> 00:17:53,866 ♪ Classy, bougie, ratchet ♪ 335 00:17:53,866 --> 00:17:56,577 ♪ Sassy, moody, nasty ♪ 336 00:17:56,577 --> 00:17:58,704 Okay, mask! Mask. 337 00:17:59,830 --> 00:18:01,123 Sorry. 338 00:18:01,123 --> 00:18:03,709 ♪ Acting stupid, what was happening? ♪ 339 00:18:04,293 --> 00:18:06,211 ♪ What's happening? I'm a savage ♪ 340 00:18:06,211 --> 00:18:09,423 Huh, A+ man. You're a shoo-in with moves like that. 341 00:18:09,423 --> 00:18:11,342 Yo, you think so for real, though? 342 00:18:12,384 --> 00:18:13,385 That's sweet, real. 343 00:18:14,887 --> 00:18:16,055 Ten labor hours. 344 00:18:16,930 --> 00:18:18,390 Damn, it's like Christmas came early! 345 00:18:20,059 --> 00:18:21,560 I'm pullin' for ya! 346 00:18:21,560 --> 00:18:22,936 Thanks, man. 347 00:18:25,230 --> 00:18:26,357 ♪ I'm that bitch ♪ 348 00:18:26,357 --> 00:18:28,734 ♪ I'm that bitch Hey ♪ 349 00:18:28,734 --> 00:18:31,904 ♪ I'm the hood Mona Lisa Break a nigga into pieces ♪ 350 00:18:31,904 --> 00:18:34,865 ♪ Had to X some cheesy niggas Out my circle like a pizza ♪ 351 00:18:34,865 --> 00:18:38,535 ♪ I'm way too exclusive I don't shop on Insta' boutiques... ♪ 352 00:18:38,535 --> 00:18:40,871 ♪ ...only fit fake booties ♪ 353 00:18:40,871 --> 00:18:41,997 ♪ Fuck cash shit ♪ 354 00:18:41,997 --> 00:18:42,915 ♪ Talking cash shit ♪ 355 00:18:42,915 --> 00:18:45,084 ♪ Pussy like water I'm unbothered and relaxing ♪ 356 00:18:45,084 --> 00:18:46,001 Mmm! Fries. 357 00:18:46,001 --> 00:18:48,670 ♪ I would never trip on a nigga if I had him ♪ 358 00:18:48,670 --> 00:18:51,632 ♪ Bitch, that's my trash, you the maid So you bagged him ♪ 359 00:18:51,632 --> 00:18:54,968 ♪ I'm a savage Classy, bougie, ratchet ♪ 360 00:18:54,968 --> 00:18:56,136 No, fuck! 361 00:18:56,136 --> 00:18:57,930 ♪ Sassy, moody, nasty... ♪ 362 00:18:57,930 --> 00:18:58,931 God! 363 00:18:58,931 --> 00:19:01,100 Goddamn it! Fuck! 364 00:19:01,100 --> 00:19:04,061 But first, cheers! Cheers, everybody. 365 00:19:04,061 --> 00:19:07,189 I mean, look. I know we still got a lot of bear takes out there. 366 00:19:07,189 --> 00:19:09,108 But as I dive deeper and deeper into this thing, 367 00:19:09,108 --> 00:19:10,984 it's looking increasingly compelling to me. 368 00:19:10,984 --> 00:19:14,196 And then you got the huge short interest. Now, I'm not betting on a short squeeze. 369 00:19:14,196 --> 00:19:16,532 I've been saying that the whole time. You guys have been talking about it. 370 00:19:16,532 --> 00:19:18,117 Thesis is grounded in fundamentals, but I'm not... 371 00:19:18,117 --> 00:19:19,743 But to... I mean, today, I mean, I'm... 372 00:19:19,743 --> 00:19:21,453 I mean, it's starting to feel a little squeezy, right? 373 00:19:21,453 --> 00:19:22,955 Starting to feel a little squeezy. Honk! 374 00:19:22,955 --> 00:19:24,498 I mean, hello. Okay! 375 00:19:24,498 --> 00:19:26,708 All right, all right. I need a drink. I need a drink. 376 00:19:29,128 --> 00:19:32,548 Now. A lot of you are accusing me of talking a big game. 377 00:19:32,548 --> 00:19:33,715 - Keith? - But-- 378 00:19:33,715 --> 00:19:36,760 - Babe, where are you? - Oh... Coming! 379 00:19:37,594 --> 00:19:40,180 Duh... I'm on Daddy duty tonight. I'll be right back. 380 00:19:41,682 --> 00:19:43,642 ♪ Stack it, pack it Stack it, pack it, trap it ♪ 381 00:19:43,642 --> 00:19:46,645 ♪ Send it to a rich nigga Tell him work his magic ♪ 382 00:19:46,645 --> 00:19:49,731 ♪ Stack it, pack it Stack it, pack it, trap it ♪ 383 00:19:49,731 --> 00:19:52,734 ♪ Send it to a rich nigga Tell him make somethin' happen ♪ 384 00:19:52,734 --> 00:19:54,486 ♪ I ain't slowin' down for no clown ♪ 385 00:19:55,404 --> 00:19:58,449 ♪ Tell him hit the next route I'm the best out ♪ 386 00:19:58,449 --> 00:20:01,160 ♪ Work on my confidence Now my chest out ♪ 387 00:20:01,160 --> 00:20:04,830 ♪ Pop it and I'm blessed now They only love you when you down ♪ 388 00:20:04,830 --> 00:20:09,126 ♪ I'mma stack it, pack it Stack it, pack it, trap it... ♪ 389 00:20:09,126 --> 00:20:11,712 Okay. There you go. 390 00:20:12,963 --> 00:20:15,424 Ooh! Sorry. 391 00:20:15,424 --> 00:20:16,967 Quick tendie break. 392 00:20:17,468 --> 00:20:18,385 Mmm! 393 00:20:18,385 --> 00:20:19,720 Gotta love those tendies. 394 00:20:19,720 --> 00:20:21,096 Sweet, sweet tendies. 395 00:20:22,055 --> 00:20:23,474 Speaking of tendies. 396 00:20:24,683 --> 00:20:27,478 Look at this. Look at this chart. 397 00:20:28,729 --> 00:20:32,441 We go from four, to six, to seven. Now... 398 00:20:32,983 --> 00:20:33,942 ten. 399 00:20:34,526 --> 00:20:37,196 Wall Street must be seeing this, right? 400 00:20:37,196 --> 00:20:39,698 Or are we just screaming into the void? 401 00:20:39,698 --> 00:20:43,160 Hello, Mr. Market. We got tendies too. 402 00:20:43,160 --> 00:20:45,579 We got tendies too. 403 00:20:47,372 --> 00:20:48,332 Maybe we are. 404 00:20:48,332 --> 00:20:53,754 They never saw the, like, 9 billion resumes I sent from 2016 to 2019. 405 00:20:53,754 --> 00:20:56,256 Or in 2009, right after I graduated college. 406 00:20:56,256 --> 00:20:59,843 I guess they were busy with that whole "market crash" thing then. 407 00:21:02,888 --> 00:21:04,556 ♪ Send it to a rich nigga... ♪ 408 00:21:04,556 --> 00:21:06,517 Fuck! 409 00:21:06,517 --> 00:21:07,643 ♪ Stack it-- ♪ 410 00:21:15,567 --> 00:21:16,860 Kevin, you son of a bitch! 411 00:21:16,860 --> 00:21:18,987 You can't run with a baby. You can't run with a baby! 412 00:21:18,987 --> 00:21:21,907 - Don't take my car, man! - I fucked up your seat! 413 00:21:21,907 --> 00:21:23,534 There's no gas left. 414 00:21:24,326 --> 00:21:26,453 I know. 415 00:21:27,829 --> 00:21:30,582 - ♪ You in the zone ♪ - ♪ I can be a better man... ♪ 416 00:21:37,089 --> 00:21:38,715 How did that taste? 417 00:21:41,009 --> 00:21:43,053 Hey-oh, can I put my pants back on? 418 00:21:43,053 --> 00:21:44,137 No! 419 00:21:44,137 --> 00:21:49,560 "Choose a player and put your hand down their panties for a whole minute." 420 00:21:49,560 --> 00:21:51,103 Panties, who's got panties? 421 00:21:51,103 --> 00:21:52,604 "Two shots if they refuse." 422 00:21:52,604 --> 00:21:55,023 I mean, I got some panties. 423 00:21:55,023 --> 00:21:56,650 Ew! 424 00:21:56,650 --> 00:21:59,736 Bro. 425 00:22:00,904 --> 00:22:03,156 - Hello. - All right. 426 00:22:04,199 --> 00:22:05,993 - All right. - Hey, girl. 427 00:22:05,993 --> 00:22:07,494 You said two shots, right? 428 00:22:07,494 --> 00:22:09,037 Oh, c'mon. 429 00:22:10,747 --> 00:22:12,291 Fuck, all good. 430 00:22:12,291 --> 00:22:14,710 - Can someone start the timer? - I got you. I got you. 431 00:22:14,710 --> 00:22:17,212 - Should I just...? Okay. - Get in there. 432 00:22:17,212 --> 00:22:18,589 - You sure? - Yeah. 433 00:22:19,339 --> 00:22:21,383 Whoa. 434 00:22:22,092 --> 00:22:23,427 Okay... 435 00:22:24,094 --> 00:22:26,305 Hi. 436 00:22:28,557 --> 00:22:30,976 How are you? 437 00:22:30,976 --> 00:22:32,477 Can you shut the fuck up? 438 00:22:32,477 --> 00:22:35,188 Fuck off! 439 00:22:35,188 --> 00:22:36,773 So what'd you do today? 440 00:22:36,773 --> 00:22:40,444 Well, I attended a Zoom seminar 441 00:22:40,444 --> 00:22:44,281 during which I watched two hours of TikTok. 442 00:22:46,116 --> 00:22:47,409 Oh! 443 00:22:47,409 --> 00:22:50,495 I, um, purchased three shares of stock. 444 00:22:51,455 --> 00:22:52,914 Okay, what stock? 445 00:22:52,914 --> 00:22:55,667 - GameStop. - Yo, Roaring Kitty! 446 00:22:55,667 --> 00:22:57,419 C'mon. Yes, James. 447 00:22:57,419 --> 00:23:00,172 Can I please put some pants back on? 448 00:23:00,172 --> 00:23:01,256 - No! - Sit down. 449 00:23:01,256 --> 00:23:04,551 I'm three days into that shit. Look it. That's just, that's only from today. 450 00:23:04,551 --> 00:23:06,970 I don't care. I don't know what the fuck I'm doing. 451 00:23:06,970 --> 00:23:08,221 I just know I'm making money. 452 00:23:08,221 --> 00:23:09,765 I'm not sold on that. 453 00:23:09,765 --> 00:23:11,558 It's doubled since summer. 454 00:23:11,558 --> 00:23:14,019 And the more people who buy in, the higher it'll go. 455 00:23:14,019 --> 00:23:16,563 That sounds like the literal definition of a pyramid scheme. 456 00:23:17,356 --> 00:23:18,982 - That's time. - Bravo! 457 00:23:23,278 --> 00:23:25,739 ♪ You make me wanna You make me wanna ♪ 458 00:23:28,158 --> 00:23:31,453 ♪ You make me wanna You make me wanna ♪ 459 00:23:31,453 --> 00:23:33,413 ♪ You make me wanna ♪ 460 00:23:35,457 --> 00:23:39,628 ♪ You make me wanna You make me wanna ♪ 461 00:23:39,628 --> 00:23:41,296 ♪ You make me wanna... ♪ 462 00:23:42,339 --> 00:23:46,176 Sorry, I have terrible allergies. And a killer headache. 463 00:23:46,176 --> 00:23:48,428 Could just be the music coming from next door though. 464 00:23:48,428 --> 00:23:52,265 You see your buddy Ken's up to 57 billion in short positions? 465 00:23:52,265 --> 00:23:54,267 Yeah, smart. The economy's in free fall. 466 00:23:55,268 --> 00:23:56,770 Mmm. 467 00:23:58,480 --> 00:24:00,857 I honestly can't tell if that was you or Romeo. 468 00:24:00,857 --> 00:24:02,484 Very funny. 469 00:24:02,484 --> 00:24:05,570 I'm telling you. This is when they drag out the guillotines. 470 00:24:06,154 --> 00:24:08,281 - You're obsessed with him. - The man is an asshole. 471 00:24:08,281 --> 00:24:12,327 He stole five analysts from me. All mediocre by the way. 472 00:24:13,120 --> 00:24:14,329 Oh, and two paintings. 473 00:24:14,329 --> 00:24:16,623 - What paintings? - A Picasso and a de Kooning. 474 00:24:16,623 --> 00:24:18,125 He overpaid 500 million. 475 00:24:18,125 --> 00:24:20,335 That is my entire nut from last year. 476 00:24:20,335 --> 00:24:22,129 The man is an asshole. Just admit it. 477 00:24:22,129 --> 00:24:24,548 You're just bitter he stole those analysts. 478 00:24:24,548 --> 00:24:26,591 You seen Citadel's projected revenue? 479 00:24:26,591 --> 00:24:28,802 $7 billion. 480 00:24:28,802 --> 00:24:31,430 That's, uh, double last year. 481 00:24:31,430 --> 00:24:33,557 Hoovering up all the stimulus checks. 482 00:24:33,557 --> 00:24:35,642 - They go straight from the retail traders - Thank you. 483 00:24:35,642 --> 00:24:37,436 right into Kenny boy's pockets. 484 00:24:37,436 --> 00:24:41,606 The man just gets away with murder. Look at what I just sent you. 485 00:24:49,281 --> 00:24:52,868 Is this a video of a man drinking his own urine because a stock went up? 486 00:24:52,868 --> 00:24:54,119 #1 post on the site. 487 00:24:54,119 --> 00:24:55,746 Where did you get this? 488 00:24:55,746 --> 00:24:57,706 My analysts sent it to me. 489 00:24:57,706 --> 00:25:02,878 They call themselves apes and r-words. Retard, can they say that? 490 00:25:02,878 --> 00:25:07,007 Remarkably self-aware. They've hooked into GameStop for whatever reason. 491 00:25:07,007 --> 00:25:08,759 They think it's funny, it seems. 492 00:25:08,759 --> 00:25:10,135 I think it's funny. 493 00:25:10,135 --> 00:25:11,845 I think they think it's a good investment. 494 00:25:11,845 --> 00:25:14,222 Retail traders always lose. 495 00:25:16,057 --> 00:25:18,185 We've actually been short GameStop since 2014. 496 00:25:18,185 --> 00:25:23,231 The company is a complete disaster. They've had six CEOs in two years. 497 00:25:24,232 --> 00:25:26,735 Guess these guys are ignoring obvious secular market trends. 498 00:25:26,735 --> 00:25:29,863 Or they're... the stupidest people on earth. 499 00:25:29,863 --> 00:25:32,324 You're shorting more right now, aren't you? 500 00:25:32,324 --> 00:25:34,826 600,000 shares, maybe. 501 00:25:35,410 --> 00:25:37,037 Dumb money, man. 502 00:25:37,037 --> 00:25:38,538 I'm happy to take it. 503 00:25:42,542 --> 00:25:45,420 Mmm! Mmm-mmm-mmm! 504 00:25:46,046 --> 00:25:47,756 Mmm-mmm-mmm! 505 00:25:47,756 --> 00:25:49,716 Listen up, retards, 506 00:25:49,716 --> 00:25:54,721 Melvin Capital has declared war on GME by shorting the stock even more. 507 00:25:54,721 --> 00:25:58,809 This is our call to activate diamond hands, my fellow warriors. 508 00:25:58,809 --> 00:26:03,814 We will not let the gay bears defeat us. We are on a mission to the fucking moon. 509 00:26:03,814 --> 00:26:06,858 This is one that is bigger than your personal gains. 510 00:26:06,858 --> 00:26:09,486 More than just tendies for a new Lambo. 511 00:26:09,486 --> 00:26:13,657 This is our chance to rise up together. To stick it to the big man. 512 00:26:13,657 --> 00:26:15,909 Squeezing Melvin by the fucking balls 513 00:26:15,909 --> 00:26:18,829 with the collective power of diamond handing autists. 514 00:26:19,412 --> 00:26:22,833 Wall Street Bets I thought were a bunch of idiots just throwing money at a stock 515 00:26:22,833 --> 00:26:24,543 because they thought it was funny. 516 00:26:24,543 --> 00:26:25,877 I was wrong. 517 00:26:25,877 --> 00:26:28,421 Now I see what Wall Street Bets really is. 518 00:26:28,421 --> 00:26:31,466 - It is a revolution. - This is one of those rare moments 519 00:26:31,466 --> 00:26:33,593 where Wall Street are the ones getting screwed over. 520 00:26:33,593 --> 00:26:35,303 And when we decide we're hungry, 521 00:26:35,303 --> 00:26:37,764 there is very little the rich can do to stop us 522 00:26:37,764 --> 00:26:39,933 - from beating them. - It's a GameStop to stop the game. 523 00:26:39,933 --> 00:26:42,102 - Power to the people. - I'm jerking off right now. 524 00:26:42,102 --> 00:26:43,144 Jerking off right now. 525 00:26:43,144 --> 00:26:45,772 So welcome aboard, grab your peanuts, 526 00:26:45,772 --> 00:26:47,732 and get the fuck in, retard. 527 00:26:47,732 --> 00:26:49,901 Ho, ho, ho! 528 00:26:49,901 --> 00:26:55,323 What up, everybody? Merry Christmas, Happy New Year's, happy holidays. Uh... 529 00:26:55,323 --> 00:26:57,742 2020... See ya. 530 00:26:57,742 --> 00:27:00,871 2020 has been a very rough year for my family too. 531 00:27:00,871 --> 00:27:03,957 So this GameStop news has been a bit of a bright spot. 532 00:27:03,957 --> 00:27:06,543 Uh, look at this, I mean, where it's at. 533 00:27:06,543 --> 00:27:10,255 It's a five bagger from where it was over the summer. 534 00:27:10,255 --> 00:27:14,259 You don't often see a thesis play out like this. 535 00:27:14,259 --> 00:27:15,343 So we gotta-- 536 00:27:15,343 --> 00:27:17,971 We can't take it for granted, right? We gotta appreciate it. 537 00:27:18,889 --> 00:27:21,308 Thank you, Santa. Right. 538 00:27:22,058 --> 00:27:25,854 Uh, I wanted to say cheers all of you. 539 00:27:25,854 --> 00:27:28,106 You're why I'm here in the first place. 540 00:27:28,773 --> 00:27:31,860 Uh, it's fun to talk about. I mean, I figure, 541 00:27:31,860 --> 00:27:34,446 if I worked at a hedge fund, I'd compare notes with my colleagues. 542 00:27:34,446 --> 00:27:37,032 But I don't. I'm stuck at home like you guys. So... 543 00:27:37,032 --> 00:27:39,409 Uh, I believe in this stock. 544 00:27:39,409 --> 00:27:41,745 And I believe in this community. 545 00:27:42,412 --> 00:27:43,622 Um... 546 00:27:43,622 --> 00:27:48,501 I'll be honest, uh, it's been kind of a shitty year. 547 00:27:49,753 --> 00:27:54,507 Uh, for a lot of people. Lotta people lost people the past 12 months. I did too. 548 00:27:54,507 --> 00:27:56,760 Uh, my sister, Sara. 549 00:27:56,760 --> 00:27:57,844 Uh... 550 00:28:05,810 --> 00:28:07,687 I don't talk about it much. 551 00:28:09,481 --> 00:28:11,441 But it felt right to tell you. 552 00:28:11,441 --> 00:28:13,777 Uh, we've been through so much together. 553 00:28:13,777 --> 00:28:16,905 You've made me feel a part of something, something big. 554 00:28:17,864 --> 00:28:20,700 So, uh, Merry Christmas. Cheers. 555 00:28:54,567 --> 00:28:55,694 I like your car. 556 00:28:58,196 --> 00:28:59,406 It's a classic. 557 00:28:59,406 --> 00:29:01,074 - '95. - Yes! 558 00:29:01,074 --> 00:29:02,951 Sadly, it's a gas-guzzler. 559 00:29:02,951 --> 00:29:05,453 Yeah, yup, this one too. 560 00:29:06,413 --> 00:29:10,458 But she's such a beauty I couldn't stand to trade her. 561 00:29:10,458 --> 00:29:12,127 '96 Honda Accord? 562 00:29:12,127 --> 00:29:15,547 Uh, 2003. Not quite a classic. 563 00:29:23,930 --> 00:29:28,018 It's kinda weird to talk to someone and see their whole face. Right? 564 00:29:28,018 --> 00:29:29,561 It's been so long. 565 00:29:30,395 --> 00:29:34,149 I... I work at a hospital, you could probably tell. 566 00:29:34,149 --> 00:29:35,400 Essential worker. 567 00:29:35,984 --> 00:29:37,402 Thank you for everything you do. 568 00:29:37,402 --> 00:29:38,695 Oh, you're very welcome. 569 00:29:50,165 --> 00:29:51,583 Hey, uh... 570 00:29:52,709 --> 00:29:54,127 Have a good night. 571 00:29:55,045 --> 00:29:56,171 Cool. 572 00:29:56,963 --> 00:29:58,465 Safe travels. 573 00:30:15,148 --> 00:30:17,317 Remember when you were just making fun of me 574 00:30:17,317 --> 00:30:20,737 - and now you're literally obsessed. - No, I don't recall. 575 00:30:20,737 --> 00:30:23,698 - How much are you up? - 948. 576 00:30:23,698 --> 00:30:26,910 Stock dipped a little, it was like 2,000 before Christmas. 577 00:30:26,910 --> 00:30:28,536 Maybe you should sell. 578 00:30:30,705 --> 00:30:32,832 No. It's not about the money. 579 00:30:32,832 --> 00:30:34,834 The stock market is not about the money? 580 00:30:34,834 --> 00:30:37,420 No. You just gotta read some of the stuff on here. 581 00:30:38,004 --> 00:30:41,716 Never understood why my dad was so pissed off about this whole thing, 582 00:30:41,716 --> 00:30:42,842 but now I do. 583 00:30:44,427 --> 00:30:45,929 I told you about his store, right? 584 00:30:45,929 --> 00:30:47,388 Costco? 585 00:30:48,056 --> 00:30:49,557 Shopko. 586 00:30:49,557 --> 00:30:51,226 It was like, this like... 587 00:30:52,060 --> 00:30:53,853 big chain in our area. 588 00:30:54,687 --> 00:30:58,566 My dad, he worked his way all the way up from bag boy to general manager. 589 00:30:59,317 --> 00:31:02,028 Then one of these Wall Street funds came in, bought it, 590 00:31:02,028 --> 00:31:06,491 and vampire-sucked all the money out of it and then declared bankruptcy. 591 00:31:06,491 --> 00:31:07,659 Fuck. 592 00:31:08,785 --> 00:31:09,869 Yeah. 593 00:31:11,579 --> 00:31:14,624 He lost his pension. Everything. 594 00:31:15,959 --> 00:31:18,837 It's why he had to work at Pick 'n fuckin' Save till the day he died. 595 00:31:18,837 --> 00:31:21,297 And now that's why I'm up to my ass in debt. 596 00:31:22,632 --> 00:31:25,301 And these fuckers are trying to do the same thing to GameStop. 597 00:31:26,761 --> 00:31:27,929 Fuck 'em. 598 00:31:29,556 --> 00:31:30,890 Fuck 'em all. 599 00:31:52,537 --> 00:31:54,414 - Wait, look. - Hm? 600 00:31:54,414 --> 00:31:55,832 Look at this. 601 00:31:55,832 --> 00:31:58,710 - This guy wants to CashApp me $100 - Shut the fuck up. 602 00:31:58,710 --> 00:32:02,755 to send him a selfie. Or 500 if I live chat him from a bubble bath. 603 00:32:02,755 --> 00:32:04,674 Yes! Yes, we should do it. 604 00:32:04,674 --> 00:32:06,885 - What? - Yes, we do it. 605 00:32:06,885 --> 00:32:09,345 And then put the money into GameStop. 606 00:32:09,888 --> 00:32:13,641 - Who am I talking to right now? - C'mon, bitch, let's go get a tub. 607 00:32:15,351 --> 00:32:17,812 ♪ We got this motherfucker lit On some money shit ♪ 608 00:32:17,812 --> 00:32:20,815 ♪ Yeah, everybody's shit Everybody's shit, yeah ♪ 609 00:32:20,815 --> 00:32:23,359 ♪ We got this motherfucker lit On some money shit ♪ 610 00:32:23,359 --> 00:32:26,029 ♪ Everybody's shit Everybody's shit ♪ 611 00:32:26,029 --> 00:32:27,363 ♪ Unh, please don't pretend... ♪ 612 00:32:27,363 --> 00:32:28,531 Your entire business 613 00:32:28,531 --> 00:32:30,658 is kids spending their lunch money on random stocks. 614 00:32:30,658 --> 00:32:32,493 They come to you because it's free. 615 00:32:32,493 --> 00:32:36,581 But if you don't charge a commission on their trades, 616 00:32:36,581 --> 00:32:38,499 how do you make money? 617 00:32:39,459 --> 00:32:45,131 The idea for Robinhood really came out of the Occupy Wall Street movement. 618 00:32:45,131 --> 00:32:46,841 All those people with no way of getting in. 619 00:32:46,841 --> 00:32:49,177 Is that what Occupy was about? 620 00:32:49,177 --> 00:32:51,971 I mean, were they trying to get in or... 621 00:32:51,971 --> 00:32:54,182 So we said, it's not enough to occupy. 622 00:32:54,182 --> 00:32:57,143 - We need to democratize Wall Street. - Nat, I'm not sure you know this, 623 00:32:57,143 --> 00:32:58,645 but Baiju and I are both immigrants. 624 00:32:58,645 --> 00:33:00,438 I was born in Bulgaria, 625 00:33:00,438 --> 00:33:03,107 and Baiju's parents immigrated from India to the Deep South. 626 00:33:03,983 --> 00:33:07,654 Can you imagine growing up in rural Virginia with a name like 627 00:33:07,654 --> 00:33:10,698 Baiju Prafulkumar Bhatt? 628 00:33:10,698 --> 00:33:14,035 We created commission-free trading so that anyone can get in the game. 629 00:33:14,035 --> 00:33:17,580 You don't even need a bank account. People have really responded. 630 00:33:17,580 --> 00:33:21,542 We've added 5 million users, uh, in the last six months, 631 00:33:21,542 --> 00:33:24,379 - for a total of, um... - Close to 20 at this point. Million. 632 00:33:24,379 --> 00:33:26,214 So, you're one of these tech companies 633 00:33:26,214 --> 00:33:28,549 that's exploded growth-wise, but doesn't make any money. 634 00:33:28,549 --> 00:33:30,385 - We make money. - But how? 635 00:33:30,385 --> 00:33:33,388 - If you don't charge commission then... - From interest on people's accounts. 636 00:33:33,388 --> 00:33:34,973 But your users are mostly young. 637 00:33:34,973 --> 00:33:37,767 So, how much money can they really be keeping in their account? 638 00:33:37,767 --> 00:33:39,394 There's also payment for order flow. 639 00:33:39,394 --> 00:33:40,311 What's that? 640 00:33:40,311 --> 00:33:43,189 We prefer the term "stock order routing." 641 00:33:43,189 --> 00:33:45,149 When you buy or sell a stock on our app, 642 00:33:45,149 --> 00:33:47,944 we send your order to market makers, who process the order. 643 00:33:47,944 --> 00:33:50,321 They pay us a tiny rebate on every trade. 644 00:33:50,321 --> 00:33:52,115 - Tiny. - But it adds up. 645 00:33:52,115 --> 00:33:54,450 We should really get back to how we... started our company. 646 00:33:54,450 --> 00:33:55,952 What market maker do you work with? 647 00:33:55,952 --> 00:33:58,246 A few. Citadel Securities mostly. 648 00:33:58,246 --> 00:34:00,623 Ken Griffin's firm? Isn't that a hedge fund? 649 00:34:00,623 --> 00:34:04,210 Well, Ken Griffin's hedge fund is called Citadel. 650 00:34:04,210 --> 00:34:06,879 But Citadel Securities is a completely different company. 651 00:34:06,879 --> 00:34:08,673 Also owned by Ken Griffin? 652 00:34:10,091 --> 00:34:11,175 All right, 653 00:34:11,843 --> 00:34:14,512 we weren't gonna do this, but we'll give you a scoop. 654 00:34:15,179 --> 00:34:17,015 Off the record for now. 655 00:34:17,682 --> 00:34:18,725 Okay. 656 00:34:20,059 --> 00:34:21,978 We're looking to IPO soon. 657 00:34:23,855 --> 00:34:26,357 Damn. Okay. 658 00:34:27,483 --> 00:34:28,318 That's big. 659 00:34:29,819 --> 00:34:32,780 ♪ Girl, I can buy your ass the world With my paystub ♪ 660 00:34:32,780 --> 00:34:36,159 ♪ Ooh, that pussy good Won't you sit it on my taste bloods? ♪ 661 00:34:36,159 --> 00:34:39,454 ♪ I get way too petty Once you let me do the extras ♪ 662 00:34:39,454 --> 00:34:42,415 ♪ Pull up on your block then break it down We playin' Tetris ♪ 663 00:34:42,415 --> 00:34:45,626 ♪ AM to the PM, PM to the AM, funk ♪ 664 00:34:45,626 --> 00:34:48,838 ♪ Piss out your per diem You just gotta hate 'em, funk ♪ 665 00:34:48,838 --> 00:34:50,298 ♪ If I quit your BM ♪ 666 00:34:50,298 --> 00:34:52,508 ♪ Hold up Sit down, lil bitch ♪ 667 00:34:52,508 --> 00:34:54,427 ♪ Be humble, lil bitch... ♪ 668 00:34:54,427 --> 00:34:55,803 Okay, don't say the bad word. 669 00:34:55,803 --> 00:34:57,055 ♪ Be humble ♪ 670 00:34:57,055 --> 00:34:58,723 ♪ Sit down ♪ 671 00:34:58,723 --> 00:35:00,308 ♪ ...be humble... ♪ 672 00:35:00,308 --> 00:35:02,977 ♪ Sit down, be humble ♪ 673 00:35:03,603 --> 00:35:04,896 - ♪ Sit down ♪ - ♪ Sit down ♪ 674 00:35:04,896 --> 00:35:06,814 - ♪ ...be humble ♪ - ♪ Hold up, lil bitch ♪ 675 00:35:06,814 --> 00:35:09,567 - ♪ Sit down, be humble ♪ - ♪ Sit down, lil bitch ♪ 676 00:35:09,567 --> 00:35:11,694 - ♪ Bitch, sit down ♪ - ♪ Hold up... ♪ 677 00:35:11,694 --> 00:35:13,946 ♪ Be humble, sit down, lil bitch ♪ 678 00:35:13,946 --> 00:35:16,199 Kev, please. Your father needs to concentrate. 679 00:35:16,199 --> 00:35:17,408 ♪ Well, sit down, lil bitch ♪ 680 00:35:17,408 --> 00:35:20,286 Drove long-haul for forty years. I don't need to concentrate. 681 00:35:20,286 --> 00:35:22,705 Fine. I need to concentrate. 682 00:35:22,705 --> 00:35:24,957 What do you need to concentrate about? 683 00:35:24,957 --> 00:35:26,125 What? 684 00:35:26,125 --> 00:35:28,336 I thought they were veering over into our lane. 685 00:35:28,336 --> 00:35:30,922 Nobody was veering, Elaine. It's okay. 686 00:35:34,884 --> 00:35:36,928 You talk to any of the girls at the clinic? 687 00:35:36,928 --> 00:35:38,638 A few of them have called. 688 00:35:41,933 --> 00:35:43,351 I miss it. 689 00:35:43,351 --> 00:35:45,186 Boys, never retire. 690 00:35:45,853 --> 00:35:47,522 Keith, never retire. 691 00:35:48,189 --> 00:35:50,191 Kevin, if you ever get a job, never retire. 692 00:35:50,191 --> 00:35:51,275 I have a job! 693 00:35:51,275 --> 00:35:53,569 Yet you still live with Ma and Dad. 694 00:35:53,569 --> 00:35:57,198 Oh, you're some big professional now cuz you're fucking king dork on YouTube? 695 00:35:57,198 --> 00:35:58,533 Just one of many dorks. 696 00:35:58,533 --> 00:36:00,868 This asshole thinks he's Jimmy Buffett now. 697 00:36:00,868 --> 00:36:02,453 - C'mon. - Warren Buffett. 698 00:36:02,453 --> 00:36:04,497 - Warren Buffett. - See? 699 00:36:04,497 --> 00:36:07,500 You're not either of the Buffetts, Kitty! 700 00:36:10,753 --> 00:36:12,004 You're Ballz? 701 00:36:15,299 --> 00:36:17,009 - Hey! - Ah, good Christ. 702 00:36:17,009 --> 00:36:17,927 - Fellas. - Ma. 703 00:36:17,927 --> 00:36:20,388 Drop! Stop it! 704 00:36:24,851 --> 00:36:26,018 Door Dash is not a job. 705 00:36:27,186 --> 00:36:28,229 MassMutual's a job. 706 00:36:28,229 --> 00:36:30,481 - A job's got business cards. - Door Dash is a job. 707 00:36:30,481 --> 00:36:31,774 Okay, I'm a first responder. 708 00:36:31,774 --> 00:36:34,569 And second of all, Ma, nobody uses business cards anymore. 709 00:36:36,320 --> 00:36:38,239 We're proud of you, honey. 710 00:36:39,282 --> 00:36:40,533 Get a room. 711 00:37:00,428 --> 00:37:03,431 Take your time. I'll be in the car. 712 00:37:15,610 --> 00:37:16,944 Yeah. 713 00:37:25,536 --> 00:37:26,829 Love you. 714 00:37:50,895 --> 00:37:52,480 It has been dragging on. 715 00:37:52,480 --> 00:37:54,774 Honestly, I don't know when we'll be able to start demo 716 00:37:54,774 --> 00:37:56,609 because local ordinances are a nightmare. 717 00:37:56,609 --> 00:37:59,862 My heart bleeds for you. Having to borrow a tennis court. 718 00:37:59,862 --> 00:38:01,656 "Borrower is slave to the lender." 719 00:38:01,656 --> 00:38:02,698 Is that Buffett? 720 00:38:02,698 --> 00:38:05,910 It's the Bible. Uh, Proverbs. My Grandpa Melvin used to say it. 721 00:38:05,910 --> 00:38:07,620 When he was starting his convenience store, 722 00:38:07,620 --> 00:38:08,955 he refused to borrow one dollar. 723 00:38:08,955 --> 00:38:09,997 It was a point of pride. 724 00:38:09,997 --> 00:38:11,791 Ah, yes, your humble beginnings. 725 00:38:11,791 --> 00:38:15,920 "Grandpa Melvin" Capital, now with 16 billion under management. 726 00:38:16,504 --> 00:38:19,173 Better than "Citadel." You sound like you're preparing for war. 727 00:38:19,173 --> 00:38:20,299 I'm a man of the people. 728 00:38:20,299 --> 00:38:21,509 You rented out a resort, 729 00:38:21,509 --> 00:38:24,929 and relocated your entire firm here so you could stay open during lockdown. 730 00:38:24,929 --> 00:38:28,182 Says the man who flew his whole firm down private just for a party. 731 00:38:28,182 --> 00:38:30,101 And anyway, what kind of company shuts down 732 00:38:30,101 --> 00:38:31,978 just because the government tells them to? 733 00:38:31,978 --> 00:38:34,188 All the ones in your short portfolio. 734 00:38:34,188 --> 00:38:36,148 - And yours. - Ah! 735 00:38:36,148 --> 00:38:38,776 - All except for one actually. - Which one? 736 00:38:38,776 --> 00:38:40,736 - GameStop. - How? 737 00:38:40,736 --> 00:38:43,406 They sell computer mouses. Mice? 738 00:38:43,406 --> 00:38:45,575 They claim it makes them an essential business. 739 00:38:45,575 --> 00:38:48,160 That is the smartest dumbest thing I've ever heard. 740 00:38:48,160 --> 00:38:50,955 I know, it's actually a fun one. The revenue's in the toilet. 741 00:38:50,955 --> 00:38:53,749 632 million net loss last year. 742 00:38:53,749 --> 00:38:56,794 They'd be better off just burning the whole company down. 743 00:38:56,794 --> 00:38:59,964 The stock though, it has been volatile. It's been up. 744 00:38:59,964 --> 00:39:02,550 - Buybacks? - Retail traders. 745 00:39:02,550 --> 00:39:04,760 Bro. I don't have it, bro. 746 00:39:04,760 --> 00:39:05,886 - Damn, brother. - Sorry, man. 747 00:39:05,886 --> 00:39:07,346 - Yeah, yeah, yeah. - Have a good one, bro. 748 00:39:07,346 --> 00:39:09,765 - Yo, stay up though! Aight, bro. Aight. - Yeah. 749 00:39:15,438 --> 00:39:17,064 I'm gonna put these back real quick. 750 00:39:24,572 --> 00:39:25,740 Hey, Marcos. 751 00:39:26,699 --> 00:39:27,867 Yes, Bradley? 752 00:39:29,160 --> 00:39:31,704 Uh, I... I love how you engaged with that customer, 753 00:39:31,704 --> 00:39:33,998 but we really wanna close those pre-owned sales. 754 00:39:33,998 --> 00:39:35,374 The margin's more than double. 755 00:39:35,374 --> 00:39:36,876 Oh shit, double. 756 00:39:36,876 --> 00:39:38,836 Yeah, you didn't do any of the five prongs, dude: 757 00:39:38,836 --> 00:39:42,298 Pre-orders. Reward-card subscriptions. Used sales. New sales. Trade-ins. 758 00:39:42,298 --> 00:39:44,091 Yeah, I mean, when I was a 16-year old gamer, 759 00:39:44,091 --> 00:39:46,093 all I wanted was a reward-card subscription. 760 00:39:46,093 --> 00:39:49,430 $5 cash back monthly, 20 points for every dollar spent... 761 00:39:50,014 --> 00:39:50,848 Don't get me started. 762 00:39:50,848 --> 00:39:53,434 A lot of really smart people in corporate put this plan together. 763 00:39:53,434 --> 00:39:55,853 Yeah, but any of them ever played a video game? 764 00:39:55,853 --> 00:39:58,814 Uh, it doesn't matter, Marcos, because they own our asses. 765 00:39:58,814 --> 00:40:01,984 Yo, they don't own my ass, so. 766 00:40:02,526 --> 00:40:03,611 They do, 767 00:40:03,611 --> 00:40:05,071 and they always will. 768 00:40:08,157 --> 00:40:09,200 Mask. 769 00:40:11,118 --> 00:40:12,370 Hey, Bradley. 770 00:40:15,498 --> 00:40:17,583 You ever heard of a short squeeze? 771 00:40:25,341 --> 00:40:27,134 Is that a sexual thing? 772 00:40:28,969 --> 00:40:30,346 No. 773 00:40:31,806 --> 00:40:33,182 Oh, yeah! 774 00:40:33,182 --> 00:40:35,810 Here's what's going on. Late last year, 775 00:40:35,810 --> 00:40:40,481 hedge funds started shorting stock in the retail store GameStop. 776 00:40:40,481 --> 00:40:44,068 Meaning they had bet against it and needed it to drop in price 777 00:40:44,068 --> 00:40:47,863 for their investments to be successful. Now unfortunately for the hedge funds, 778 00:40:47,863 --> 00:40:53,411 small investors started buying the stock led by something called Wall Street Bets, 779 00:40:53,411 --> 00:40:57,081 a popular, juvenile, foul-mouthed Reddit page. 780 00:40:57,081 --> 00:40:58,916 And when Wall Street Bets noticed 781 00:40:58,916 --> 00:41:02,753 that hedge funds had taken a large short position in GameStop stock, 782 00:41:02,753 --> 00:41:05,423 they decided to punish the Wall Street big boys 783 00:41:05,423 --> 00:41:08,259 and launched a coordinated buying spree. 784 00:41:08,884 --> 00:41:11,887 The revolutionaries on Reddit are spanking Wall Street's ass. 785 00:41:11,887 --> 00:41:17,977 GameStop shares absolutely going nuts. I think it was up over 70% at one point. 786 00:41:17,977 --> 00:41:19,937 - Massive short squeeze, - Show me... 787 00:41:19,937 --> 00:41:22,690 - closing there, with a gain of 51% - the tendiesss! 788 00:41:22,690 --> 00:41:24,650 after traders on message boards... 789 00:41:28,070 --> 00:41:29,488 What? 790 00:41:29,488 --> 00:41:34,493 Happy Wednesday! Happy hump day! Gee... look at this! 791 00:41:34,493 --> 00:41:35,911 Look at this shit! 792 00:41:35,911 --> 00:41:39,123 A 90% increase in one day? In one fucking day! 793 00:41:39,123 --> 00:41:42,501 We're goin' to the mooooon. 794 00:41:42,501 --> 00:41:45,671 Whoa-ho-ho-ho! 795 00:41:45,671 --> 00:41:48,299 Okay, now, if you've been watching this price action, 796 00:41:48,299 --> 00:41:49,467 this is what I'm talking about. 797 00:41:49,467 --> 00:41:51,552 Yeah, but you can really feel that panic from Wall Street, right. 798 00:41:51,552 --> 00:41:53,929 When they... we're starting to feel a little squeeze. Starting to feel it. 799 00:41:53,929 --> 00:41:55,473 You're starting to really feel a little squeeze. 800 00:41:55,473 --> 00:41:58,267 I need a drink. I need a drink. I know we all drinking tonight. 801 00:41:58,267 --> 00:41:59,810 We fucking did it! 802 00:41:59,810 --> 00:42:02,605 We started from the bottom and now we're here! 803 00:42:02,605 --> 00:42:05,983 Let's raise a glass 804 00:42:05,983 --> 00:42:09,904 to a great company that's undervalued, cheers. 805 00:42:10,488 --> 00:42:14,116 Soon may the tendiemen come... Show me the tendies. Show me the tendies. 806 00:42:14,116 --> 00:42:15,367 I got 'em right here. 807 00:42:15,367 --> 00:42:18,746 Show me the tendies. I just gotta... I just gotta dip. 808 00:42:18,746 --> 00:42:21,457 I just gotta... I just gotta dip. Ah! 809 00:42:22,875 --> 00:42:23,709 Mmm. 810 00:42:23,709 --> 00:42:26,545 ♪ No way And I would do... ♪ 811 00:42:26,545 --> 00:42:29,381 Mmm-mmm-mmm. 812 00:42:29,381 --> 00:42:31,091 11 fucking million dollars? 813 00:42:31,091 --> 00:42:32,051 What the fuck! 814 00:42:32,051 --> 00:42:34,804 - Oh, language. The baby's here. - What are you gonna do? 815 00:42:34,804 --> 00:42:37,097 Get a Ferrari? A Lambo? 816 00:42:37,097 --> 00:42:38,849 Caroline, you're gonna ask for a big diamond, right? 817 00:42:38,849 --> 00:42:40,226 I have a diamond. 818 00:42:40,226 --> 00:42:42,686 Keith, you get a fucking diamond! If I were you, I'd look like 819 00:42:42,686 --> 00:42:45,272 - DJ Khaled right now. - Kev! It's not real. 820 00:42:45,272 --> 00:42:46,899 I mean, it's real, but it's just paper. 821 00:42:46,899 --> 00:42:49,985 Just on paper! You're gonna sell, right? 822 00:42:49,985 --> 00:42:51,278 - No! - Maybe. 823 00:42:51,821 --> 00:42:54,532 I mean, I don't know. Uh... 824 00:42:54,532 --> 00:42:58,035 - We... we haven't talked about it. - What the fuck is wrong with you? 825 00:42:58,035 --> 00:43:01,288 I'm riding Mom's bike every day to Dorchester to drop off cheeseburgers 826 00:43:01,288 --> 00:43:02,748 because you won't let me use your fucking car. 827 00:43:02,748 --> 00:43:04,917 And you're mister "I won't sell and take millions of dollars." 828 00:43:04,917 --> 00:43:07,253 And, well, what you do with your life is your choice. 829 00:43:07,253 --> 00:43:10,172 You think I wanted to get laid off from Dick's during a global pandemic? 830 00:43:10,172 --> 00:43:13,384 I love those sneakers, man. I loved that store. I love Dick's. 831 00:43:13,384 --> 00:43:16,470 - Mom's bike doesn't even have gears. - We don't know if it's reached the top. 832 00:43:16,470 --> 00:43:19,390 The stock jumped like 23% yesterday. 833 00:43:19,390 --> 00:43:21,267 - Double from Friday's close. - But he's right. 834 00:43:21,267 --> 00:43:23,644 I mean, 11 million dollars is a lot of fucking dough. 835 00:43:23,644 --> 00:43:24,895 - Thank you! - Okay, yes, 836 00:43:24,895 --> 00:43:28,023 but since Ryan Cohen joined the board, the... 837 00:43:28,023 --> 00:43:29,358 This fucking guy. 838 00:43:29,358 --> 00:43:31,777 ...got a 2 billion market cap. I mean, could it go pff? Yeah. 839 00:43:31,777 --> 00:43:34,738 But that's not what I'm seeing. That's not what I'm seeing, Kev. 840 00:43:35,823 --> 00:43:37,575 Kev? You there? 841 00:43:40,202 --> 00:43:41,328 Did he hang up? 842 00:43:42,037 --> 00:43:43,372 Yeah. 843 00:43:53,883 --> 00:43:55,759 Fuck, I think hold. 844 00:43:59,054 --> 00:44:01,765 - Girl, you gotta sell. - I'm not selling. 845 00:44:01,765 --> 00:44:02,975 How much are you up? 846 00:44:02,975 --> 00:44:04,977 58,000 and some change. 847 00:44:07,438 --> 00:44:09,857 Baby girl, what the fuck? 848 00:44:09,857 --> 00:44:11,984 You need to get out while you can. 849 00:44:11,984 --> 00:44:14,653 - Don't be an idiot. - You remember red headband guy. 850 00:44:14,653 --> 00:44:18,157 He's worth 11 million dollars. And he's not selling. 851 00:44:18,157 --> 00:44:20,200 - No fucking way. - Yes fucking way. 852 00:44:20,200 --> 00:44:22,828 This is what I'm telling you. Diamond hands. 853 00:44:23,996 --> 00:44:27,541 Diamond hands. You hold the line no matter what the market does. 854 00:44:27,541 --> 00:44:28,959 No matter what Wall Street says. 855 00:44:28,959 --> 00:44:31,003 What happens when everyone else sells first, 856 00:44:31,003 --> 00:44:33,756 and before you get out you've lost all your money? 857 00:44:33,756 --> 00:44:35,507 Are there any volunteers? 858 00:44:35,507 --> 00:44:37,384 - I'm... - Anyone? 859 00:44:37,384 --> 00:44:39,595 - We're gonna hold the line. - C'mon. 860 00:44:39,595 --> 00:44:41,722 - Someone has to go first. - Okay, yeah. I'll do it. 861 00:44:47,102 --> 00:44:48,646 Here we go everyone. 862 00:44:48,646 --> 00:44:51,649 The first Covid vaccine at Pittsburgh Presbyterian. 863 00:44:51,649 --> 00:44:53,108 Ah! 864 00:44:53,108 --> 00:44:54,568 Fuck! Fuck! 865 00:44:54,568 --> 00:44:58,572 Fuck! Guys, we need your help. What should we do? 866 00:44:59,823 --> 00:45:03,661 So listen, my girl bought in under 20 and now it is over 60. 867 00:45:03,661 --> 00:45:05,579 So like, should she sell? 868 00:45:05,579 --> 00:45:07,873 On the one hand, she has principles. 869 00:45:08,916 --> 00:45:12,294 On the other, she has 100k in student debt. So... 870 00:45:12,294 --> 00:45:15,047 One way you could think about the comparison between 871 00:45:15,047 --> 00:45:17,675 Marxism and Utilitarian tradition 872 00:45:17,675 --> 00:45:21,387 is that they both have a micro story and a macro story. 873 00:45:21,387 --> 00:45:23,764 When you think of Utilitarian tradition... 874 00:45:23,764 --> 00:45:28,185 The only thing that would convince her to sell is if Roaring Kitty sold. 875 00:45:29,395 --> 00:45:31,814 So... Where my pussy at? 876 00:45:31,814 --> 00:45:34,900 You have the micro story for the Pareto principle 877 00:45:34,900 --> 00:45:37,653 for how each individual action will go. 878 00:45:38,487 --> 00:45:39,738 But you also have a macro story. 879 00:45:39,738 --> 00:45:41,865 Where my pussy at? Where my pussy at? 880 00:45:41,865 --> 00:45:44,034 - Where my pussy at?! - Sorry. 881 00:45:44,034 --> 00:45:47,287 Where my pussy aaaaatttt?! 882 00:45:47,287 --> 00:45:48,831 I'm so sorry. 883 00:45:48,831 --> 00:45:52,209 Hey, hey, where my pussy at? Ha! 884 00:45:52,209 --> 00:45:55,087 - Where is my pussy at? - It's not in here. 885 00:46:16,025 --> 00:46:17,776 Whoa, 886 00:46:17,776 --> 00:46:20,362 wait, listen, hold on. 887 00:46:21,697 --> 00:46:25,367 "Future generations will look back and say 'Good men stood here, 888 00:46:25,367 --> 00:46:28,078 good men fought, and died on this ground... 889 00:46:28,078 --> 00:46:32,750 as they point to a TradingView daily chart of GME zoomed in on January.' 890 00:46:33,417 --> 00:46:35,085 Since the spawn of the stonkmarket, 891 00:46:35,085 --> 00:46:37,713 two classes of people have been pitted against each other..." 892 00:46:37,713 --> 00:46:42,301 "Eternal enemies, forever forced and fated to combat: lions and hyenas." 893 00:46:42,301 --> 00:46:46,096 "These lions... these Wall Street hedge funds have it all. 894 00:46:46,096 --> 00:46:47,264 Billions of dollars, 895 00:46:47,264 --> 00:46:52,227 bail outs for reckless trades, these dirty fucking criminal bastards." 896 00:46:52,227 --> 00:46:56,982 Yup, these fucking motherfuckers. 897 00:46:56,982 --> 00:46:58,567 "And then there's us. 898 00:46:58,567 --> 00:47:03,238 The working man, the average Joe. What do we have? 899 00:47:03,822 --> 00:47:06,617 What the fuck do we have? 900 00:47:06,617 --> 00:47:08,702 They literally call us 'dumb money.'" 901 00:47:08,702 --> 00:47:10,537 "These lions, these hedge fund guys, 902 00:47:10,537 --> 00:47:12,539 were born with silver spoons in their mouths. 903 00:47:12,539 --> 00:47:14,166 The top 1% of the 1%. 904 00:47:14,166 --> 00:47:17,836 They have massive bank accounts, eat medium rare Grade A Wagyu steak." 905 00:47:17,836 --> 00:47:20,214 What the fuck is that? That sounds delicious. 906 00:47:20,214 --> 00:47:22,633 "With truffle shavings for lunch." That's fuck! 907 00:47:22,633 --> 00:47:24,468 "They frequent the finest strip clubs. 908 00:47:24,468 --> 00:47:26,637 They have blow and escorts on their yacht parties." 909 00:47:26,637 --> 00:47:28,555 Why do we hate these guys? 910 00:47:28,555 --> 00:47:30,599 "Then you know what they will tell these escorts?" 911 00:47:30,599 --> 00:47:32,768 - What's an escort? - Stop listening! 912 00:47:32,768 --> 00:47:37,064 "When the smoking hot blonde asks them, 'Like, how do you have so much money?'" 913 00:47:37,981 --> 00:47:42,820 "You know what they say? They say 'Ha, dumb money, babe. Dumb money.'" 914 00:47:45,030 --> 00:47:47,783 Something's burning. 915 00:47:47,783 --> 00:47:50,327 Oh... damn it. 916 00:47:50,327 --> 00:47:52,162 - Shit! - You said "shit". 917 00:48:01,004 --> 00:48:05,092 "Last, the GME trade is about class warfare. Plain and simple. 918 00:48:05,801 --> 00:48:09,054 We may be hyenas, yes. But guess what? 919 00:48:09,054 --> 00:48:12,391 You put enough of us together, and we can destroy a lion." 920 00:48:13,559 --> 00:48:16,395 It's on, motherfuckers! 921 00:48:18,564 --> 00:48:20,899 Aw, we coming for y'all. 922 00:48:20,899 --> 00:48:22,818 Y'all better get ready. 923 00:48:22,818 --> 00:48:24,069 We fucking coming for you. 924 00:48:24,069 --> 00:48:26,780 That is some nerdy shit, man. 925 00:48:27,447 --> 00:48:30,117 My brother is a fucking nerd. 926 00:48:36,456 --> 00:48:38,500 Fuck! 927 00:48:44,089 --> 00:48:46,884 Counting down from 5 and then I'm coming back in there. 928 00:48:46,884 --> 00:48:48,927 I don't think you want that. 929 00:48:50,470 --> 00:48:51,430 5. 930 00:48:52,055 --> 00:48:53,807 - 4. - 3. 931 00:48:53,807 --> 00:48:55,058 2. 932 00:48:56,268 --> 00:48:57,644 Thank you. 933 00:48:57,644 --> 00:48:59,479 - How was your day? - Long. 934 00:48:59,479 --> 00:49:04,067 It's so hard to keep them focused on Zoom school. They're just not into it. 935 00:49:04,943 --> 00:49:06,570 How was your day? 936 00:49:06,570 --> 00:49:07,738 Good. 937 00:49:10,032 --> 00:49:12,492 You're not worried about the short squeeze thing? 938 00:49:12,492 --> 00:49:14,578 The dam'll break next week. 939 00:49:14,578 --> 00:49:17,164 A few of them will decide it's gone high enough, they'll cash out, 940 00:49:17,164 --> 00:49:20,250 the rest will follow, whole thing will come crashing down. 941 00:49:20,250 --> 00:49:23,420 I can't think of the last short squeeze that actually worked. 942 00:49:24,379 --> 00:49:25,714 Ackman and Herbalife. 943 00:49:26,298 --> 00:49:28,300 Before that... Piggly Wiggly? 944 00:49:28,300 --> 00:49:29,635 Piggly Wiggly. 945 00:49:29,635 --> 00:49:34,306 Yeah. 1923, a bear cartel was shorting the Piggly Wiggly grocery store. 946 00:49:34,306 --> 00:49:39,353 The founder, he takes out a loan for what would be $150 million today. 947 00:49:39,353 --> 00:49:41,813 He buys back almost all the stock, like 99% of the stock. 948 00:49:41,813 --> 00:49:44,149 The price of the stock goes up 50%. 949 00:49:44,149 --> 00:49:46,401 - How much is GameStop up? - Then, the exchange, 950 00:49:46,401 --> 00:49:48,278 they halt trading on the stock 951 00:49:48,278 --> 00:49:51,114 so the short sellers can cover their positions. 952 00:49:51,114 --> 00:49:52,783 Is that legal? 953 00:49:52,783 --> 00:49:55,535 The founder had to declare bankruptcy. So... 954 00:49:56,411 --> 00:49:57,913 it was all fine in the end. 955 00:49:57,913 --> 00:50:00,457 And you knew all that or you looked it up? 956 00:50:01,750 --> 00:50:03,710 Every fund manager knows that story. 957 00:50:07,798 --> 00:50:09,174 You looked it up. 958 00:50:11,009 --> 00:50:12,886 Double checked some numbers maybe. 959 00:50:22,271 --> 00:50:25,190 Oh, do you see what's going on at GME? 960 00:50:25,190 --> 00:50:27,484 - There's more of these idiots. - A lot more. 961 00:50:27,484 --> 00:50:31,405 - They won't hold much longer. - Oh, Gabe, honey, they're holding. 962 00:50:31,405 --> 00:50:33,490 It just crossed a hundred. 963 00:50:35,784 --> 00:50:37,369 Gabe? 964 00:50:37,369 --> 00:50:38,870 Where are you? 965 00:50:43,292 --> 00:50:45,294 You should probably dial in. 966 00:50:45,294 --> 00:50:46,920 Yeah, be on in one sec. 967 00:50:46,920 --> 00:50:49,631 GameStop, extraordinary volatility today. 968 00:50:49,631 --> 00:50:51,883 You know, we might want to make this the stock of the day. 969 00:50:51,883 --> 00:50:55,220 Now that it's gaining 103%. That is volatility. 970 00:50:55,220 --> 00:50:57,222 I will tell you, I've never seen anything like it. 971 00:50:57,222 --> 00:50:59,808 Um, I'm concerned about it deeply. 972 00:50:59,808 --> 00:51:02,102 I'm calling it the ultimate short squeeze. 973 00:51:02,102 --> 00:51:04,771 - How much money is being made... - Holy fucking shit. 974 00:51:04,771 --> 00:51:07,107 ...now we're gonna talk about GameStop. Those shares... 975 00:51:07,107 --> 00:51:10,235 - nonstop earning about of 130% today. - Holy fucking shit! 976 00:51:10,235 --> 00:51:12,321 As bullish retail traders frenetically buy shares. 977 00:51:12,321 --> 00:51:13,238 Holy fucking shit! 978 00:51:13,238 --> 00:51:14,614 Yo, holy shit! 979 00:51:15,198 --> 00:51:16,992 - Shit balls. - Holy shit! 980 00:51:16,992 --> 00:51:18,702 You look at the chart for the month. 981 00:51:18,702 --> 00:51:21,330 - It's up 220%. - Oh, fuck! 982 00:51:21,913 --> 00:51:23,623 - Look there... It's crazy. - Everything okay? 983 00:51:23,623 --> 00:51:25,375 Holy fucking shit! 984 00:51:25,375 --> 00:51:26,585 Holy fucking shit! 985 00:51:26,585 --> 00:51:30,255 ...if you go short in some of these elaborate options trades, 986 00:51:30,255 --> 00:51:32,466 you can lose money to infinity. 987 00:51:32,466 --> 00:51:36,136 GameStop now at 123 and change, another record high. 988 00:51:36,136 --> 00:51:37,137 Holy fucking shit! 989 00:51:37,137 --> 00:51:39,431 Completely disconnected from the fundamentals. 990 00:51:39,431 --> 00:51:42,517 And this is very much being driven by retail investors. 991 00:51:42,517 --> 00:51:44,311 Many of them trading on Robinhood. 992 00:51:44,311 --> 00:51:47,189 When the music stops, somebody is gonna be left without a seat. 993 00:51:47,189 --> 00:51:48,899 This for casino money only. 994 00:51:48,899 --> 00:51:50,942 They're literally putting the game in GameStop. 995 00:51:50,942 --> 00:51:52,986 ...is the craziest I think I've ever seen. 996 00:51:52,986 --> 00:51:56,823 True investors never heard of Reddit a few years ago. 997 00:51:56,823 --> 00:51:58,700 But for that to drive a short squeeze... 998 00:51:58,700 --> 00:52:00,160 It is Wall Street Bets. 999 00:52:00,160 --> 00:52:02,913 It's worth going to the site because it is incredibly compelling. 1000 00:52:02,913 --> 00:52:05,749 You may think it's froth, but they are using arguments 1001 00:52:05,749 --> 00:52:07,793 that they think hold up under scrutiny. 1002 00:52:07,793 --> 00:52:10,295 - I just like the stock! - I can't look. 1003 00:52:10,295 --> 00:52:12,506 - I can't look. I can't look. - It's up another 4%. 1004 00:52:12,506 --> 00:52:14,883 I'm gonna have a fucking heart attack. Should we sell? 1005 00:52:14,883 --> 00:52:16,760 And betray your boyfriend? Absolutely not. No. 1006 00:52:16,760 --> 00:52:18,762 - The stock is up 581%. - Maybe. 1007 00:52:18,762 --> 00:52:20,931 ...they are being very specific: 1008 00:52:20,931 --> 00:52:22,224 - To break the shorts. - Yes. 1009 00:52:22,224 --> 00:52:24,351 I mean, what's going on in GameStop right now 1010 00:52:24,351 --> 00:52:26,186 conceivably could take a couple of firms out. 1011 00:52:26,186 --> 00:52:29,022 Hedge funds if they were stupid enough to be short. 1012 00:52:29,022 --> 00:52:31,066 Babe, how much did we make today? 1013 00:52:32,526 --> 00:52:33,402 5 million. 1014 00:52:33,985 --> 00:52:35,487 And yesterday? 1015 00:52:35,487 --> 00:52:36,655 4 million. 1016 00:52:39,199 --> 00:52:40,033 Babe... 1017 00:52:40,742 --> 00:52:41,785 Yeah? 1018 00:52:42,744 --> 00:52:45,455 We're, like, really fucking rich. 1019 00:52:52,129 --> 00:52:53,880 How much did we lose today? 1020 00:52:56,425 --> 00:52:57,300 A billion. 1021 00:52:59,928 --> 00:53:00,846 And yesterday? 1022 00:53:02,472 --> 00:53:03,473 A billion. 1023 00:53:08,353 --> 00:53:11,148 Some news to bring you right now is that Melvin Capital Management, 1024 00:53:11,148 --> 00:53:15,277 this is the hedge fund that had shorted this company, 1025 00:53:15,277 --> 00:53:20,949 that had effectively been attacked by an army of investors trying to push up 1026 00:53:20,949 --> 00:53:23,785 and press up the stock of GameStop. 1027 00:53:23,785 --> 00:53:26,371 They've taken a rather huge loss... 1028 00:53:26,371 --> 00:53:29,291 Sorry, if you could just put your head up for a sec? 1029 00:53:29,958 --> 00:53:30,876 Thanks. 1030 00:53:31,376 --> 00:53:32,794 How long've you been down here? 1031 00:53:33,295 --> 00:53:34,129 A few months. 1032 00:53:35,589 --> 00:53:36,923 You like the weather? 1033 00:53:39,092 --> 00:53:42,554 Heat is nice. The humidity not as much. 1034 00:53:42,554 --> 00:53:44,389 I can see that. 1035 00:53:44,389 --> 00:53:47,976 - Hm. - All right, I think you're good to go. 1036 00:54:13,668 --> 00:54:15,587 - Hey! - Hey, man. 1037 00:54:15,587 --> 00:54:17,422 - Hi. - It's good to connect. 1038 00:54:17,422 --> 00:54:18,632 You too. Great to be here. 1039 00:54:18,632 --> 00:54:19,799 - Excited. - I'm glad you are. 1040 00:54:19,799 --> 00:54:21,593 Listen, I want to get right to it. 1041 00:54:21,593 --> 00:54:24,471 From what I'm hearing, you guys are bankrupt. 1042 00:54:26,223 --> 00:54:27,724 No! What? No. 1043 00:54:27,724 --> 00:54:30,810 'Cause the word on the street is that you're drowning. 1044 00:54:30,810 --> 00:54:33,063 No, that's... That's crazy. 1045 00:54:33,063 --> 00:54:35,565 - We're doing great. - You're on the record with that? 1046 00:54:36,149 --> 00:54:37,025 Obviously. 1047 00:54:37,025 --> 00:54:40,278 All right, man. Well, then, we're gonna get the live feed up right now, 1048 00:54:40,278 --> 00:54:42,948 and then we're gonna get to you right after this next advertising break. 1049 00:54:42,948 --> 00:54:44,783 Perfect, great. Yes, can't wait. 1050 00:54:49,120 --> 00:54:51,122 All right, one more spot and then you're gonna be up. 1051 00:54:51,122 --> 00:54:54,209 I really do think this is the right time for you to communicate. 1052 00:54:54,209 --> 00:54:56,294 - Great, yes. Agreed. - Great. We're gonna do it. 1053 00:54:56,294 --> 00:54:58,797 Address it all head on. It's gonna be good. 1054 00:55:00,882 --> 00:55:03,051 - No. - What? Gabe, we're on in 10 seconds. 1055 00:55:03,051 --> 00:55:04,344 I can't do this. I'm sorry. 1056 00:55:04,344 --> 00:55:05,262 Gabe, seriously. 1057 00:55:05,262 --> 00:55:07,013 - Bye, I'm terribly sorry. - Seriously, c'mon. 1058 00:55:07,013 --> 00:55:09,099 - Good to see you. The pleasure's here. - We're going on right now. 1059 00:55:15,605 --> 00:55:16,439 Babe, 1060 00:55:17,607 --> 00:55:18,775 what's the damage? 1061 00:55:51,099 --> 00:55:52,392 Let me guess, you need cash. 1062 00:55:52,392 --> 00:55:54,436 Didn't call Ken first, did you? 1063 00:55:54,436 --> 00:55:56,104 He had Phillips reach out. 1064 00:55:56,605 --> 00:55:57,981 How much did he offer? 1065 00:55:59,482 --> 00:56:00,942 I haven't called him back yet. 1066 00:56:00,942 --> 00:56:02,402 Well, how much do you need? 1067 00:56:02,402 --> 00:56:04,821 You know what? Don't answer that. The number doesn't matter. 1068 00:56:04,821 --> 00:56:06,406 Whatever it is, I'd love to buy in. 1069 00:56:06,406 --> 00:56:08,491 Tell Ken to fill in the rest. 1070 00:56:08,491 --> 00:56:09,701 Prick. 1071 00:56:15,749 --> 00:56:16,791 - Hey, Ken. - Hey. 1072 00:56:16,791 --> 00:56:19,919 Hi, um... So, I might need... 1073 00:56:20,837 --> 00:56:21,755 Uh... 1074 00:56:22,672 --> 00:56:23,673 A new investor. 1075 00:56:23,673 --> 00:56:24,966 Consider it done. 1076 00:56:24,966 --> 00:56:26,968 Just keep moving forward. 1077 00:56:26,968 --> 00:56:29,596 Don't think about what Grandpa Melvin used to say. 1078 00:56:29,596 --> 00:56:30,930 Prick. 1079 00:56:32,807 --> 00:56:34,768 - Thank you. - Both Citadel 1080 00:56:34,768 --> 00:56:38,480 - and Point72 have infused - Poor guy. 1081 00:56:38,480 --> 00:56:41,983 $3 billion into Melvin Capital 1082 00:56:41,983 --> 00:56:44,861 - to try to shore up... - Another goddamn bailout. 1083 00:56:44,861 --> 00:56:46,571 Can you believe this crap? 1084 00:56:46,571 --> 00:56:47,781 Nobody bailed me out 1085 00:56:47,781 --> 00:56:50,784 when Richard left me alone with two toddlers, a mortgage, 1086 00:56:50,784 --> 00:56:52,077 a shit car that never works. 1087 00:56:52,077 --> 00:56:53,828 You can say "shit" but we can't? 1088 00:56:53,828 --> 00:56:55,872 It's just so damn unfair and you know it. 1089 00:56:55,872 --> 00:56:59,876 All we've done for the last year is work our asses off helping people, 1090 00:56:59,876 --> 00:57:02,587 and all we've gotten is one $600 check. 1091 00:57:02,587 --> 00:57:05,632 This idiot effs up just about as bad as anyone could eff, 1092 00:57:05,632 --> 00:57:08,677 and his friends come running in with $3 billion. 1093 00:57:08,677 --> 00:57:10,929 That's why I keep telling you: you're never gonna win. 1094 00:57:10,929 --> 00:57:13,515 Just take the money and do something nice. Pay off your mortgage. 1095 00:57:13,515 --> 00:57:15,058 Get that one braces. 1096 00:57:15,642 --> 00:57:17,143 Look who's still holding. 1097 00:57:18,603 --> 00:57:20,605 If he's in, I'm in. 1098 00:57:20,605 --> 00:57:22,565 Yeah, he's still gonna need braces. 1099 00:57:22,565 --> 00:57:23,650 Your teeth are perfect. 1100 00:57:23,650 --> 00:57:26,903 So what? The stock's up $150. How much higher is it gonna go? 1101 00:57:26,903 --> 00:57:29,197 We control the price now. Not Wall Street. 1102 00:57:29,197 --> 00:57:30,699 And no one on there is selling. 1103 00:57:30,699 --> 00:57:31,741 Shoes. 1104 00:57:31,741 --> 00:57:33,952 - Ugh. You're all so delusional. - Maybe. 1105 00:57:33,952 --> 00:57:36,371 But look at what we managed to do with these hedge funds. 1106 00:57:36,371 --> 00:57:37,997 If we keep driving up the price, 1107 00:57:37,997 --> 00:57:41,167 maybe we'll scare more of these guys into closing out their shorts, 1108 00:57:41,167 --> 00:57:43,253 and then all of that bailout money... 1109 00:57:43,253 --> 00:57:44,671 - Wait... - becomes ours. 1110 00:57:44,671 --> 00:57:45,588 your screen name... 1111 00:57:46,381 --> 00:57:47,924 is Stonkmom? 1112 00:57:52,345 --> 00:57:53,346 - Hey! - Help your mother. 1113 00:57:53,346 --> 00:57:55,849 - Why me and not Keith? - Just shut up and do it, okay? 1114 00:57:55,849 --> 00:57:58,059 - Kev, take the potatoes. - 'Cause you're rich now? 1115 00:57:58,059 --> 00:58:00,145 Mr. 23 million on paper but I won't sell. 1116 00:58:00,145 --> 00:58:02,397 - Kevin. - Loser says what? 1117 00:58:03,398 --> 00:58:05,859 - What? - Kevin, let Keith tell them. 1118 00:58:09,070 --> 00:58:09,946 Tell us what? 1119 00:58:11,573 --> 00:58:14,284 Oh, uh... I was waiting to tell you in person. 1120 00:58:14,284 --> 00:58:17,412 But the, uh, stock we bet on, GameStop, is up. 1121 00:58:17,412 --> 00:58:18,580 Ah, good. 1122 00:58:19,706 --> 00:58:22,167 - How much up? - He's up 23 million, Pop. 1123 00:58:22,751 --> 00:58:23,752 You're an asshole. 1124 00:58:23,752 --> 00:58:26,296 - Don't kid us. - Uh, it's real. 1125 00:58:26,296 --> 00:58:28,965 Yeah, it's real. And he's refusing to sell. 1126 00:58:30,842 --> 00:58:31,885 What is going on? 1127 00:58:32,927 --> 00:58:34,262 - You're pulling our leg. - No. 1128 00:58:34,262 --> 00:58:36,181 Your son's a huge Internet celebrity now. 1129 00:58:36,181 --> 00:58:39,017 Millions of people including "Stonkmom" thinks he's some like, 1130 00:58:39,017 --> 00:58:41,186 - I don't know, investment genius. - No, he is a genius. 1131 00:58:41,186 --> 00:58:42,395 No, he's not. 1132 00:58:42,395 --> 00:58:44,147 You're up 23 million? 1133 00:58:45,148 --> 00:58:46,566 And you're not selling. 1134 00:58:48,193 --> 00:58:49,527 Jesus, Mary and Joseph. 1135 00:58:49,527 --> 00:58:51,029 What the fuck is wrong with you? 1136 00:58:51,029 --> 00:58:53,364 Do you even know how much $23 million is? 1137 00:58:53,364 --> 00:58:55,658 And you're just gonna let it ride? What's the matter with you? 1138 00:58:55,658 --> 00:58:57,869 - I know what I'm doing, Dad. - But why aren't you selling? 1139 00:58:57,869 --> 00:58:59,788 What, wait! Is this illegal? Are you in trouble? 1140 00:58:59,788 --> 00:59:00,955 No. No, he's not in trouble. 1141 00:59:00,955 --> 00:59:02,040 - It's totally legal. - Yeah. 1142 00:59:02,040 --> 00:59:03,833 He's posting his balance sheet on the Internet. 1143 00:59:03,833 --> 00:59:05,001 - What? - Hedge fund managers, 1144 00:59:05,001 --> 00:59:07,462 they go on CNBC all the time to pump up the stock. 1145 00:59:07,462 --> 00:59:09,923 All I do is post my balance sheet on Wall Street Bets 1146 00:59:09,923 --> 00:59:13,176 - after market close. - You post your balance sheet? 1147 00:59:13,176 --> 00:59:14,344 Yeah, the same idiot 1148 00:59:14,344 --> 00:59:17,138 who left a fresh pair of Nikes out on the bleachers for just anyone to take. 1149 00:59:17,138 --> 00:59:18,306 So you admit they were stolen! 1150 00:59:18,306 --> 00:59:19,933 - We gotta talk about this. - You're a fuckin' moron. 1151 00:59:19,933 --> 00:59:21,392 - Least I won. - What's the point of winning 1152 00:59:21,392 --> 00:59:22,727 if you let some dipshit steal the prize? 1153 00:59:22,727 --> 00:59:24,270 You would've broke a four if you had the Zooms. 1154 00:59:24,270 --> 00:59:25,772 A four minute mile isn't everything, Kevin. 1155 00:59:25,772 --> 00:59:27,649 Maybe we should get in touch with Briggsy. 1156 00:59:27,649 --> 00:59:29,651 - You know, he works in finance. - Yes. 1157 00:59:29,651 --> 00:59:31,861 You think Briggsy knows more about this than Keith does? 1158 00:59:31,861 --> 00:59:33,905 Well, can you talk about why you're putting your stocks 1159 00:59:33,905 --> 00:59:36,157 - in the Wall Street Journal? - Wall Street Bets. 1160 00:59:36,157 --> 00:59:37,742 What if someone tries to rob you? Kidnap the baby? 1161 00:59:37,742 --> 00:59:38,993 No one's gonna kidnap the baby. 1162 00:59:38,993 --> 00:59:40,870 - Nobody wants that baby, Mom. - I'm just saying, 1163 00:59:40,870 --> 00:59:42,163 that if we're gonna talk to somebody, 1164 00:59:42,163 --> 00:59:43,873 - you need to talk to Briggsy. - Yes, honey. 1165 00:59:43,873 --> 00:59:45,458 - This is the point... - Enough! 1166 00:59:46,543 --> 00:59:48,127 You guys, Keith has literally 1167 00:59:48,127 --> 00:59:50,421 poured his heart and his soul into this for the past year. 1168 00:59:50,421 --> 00:59:51,798 He knows what he's doing. 1169 00:59:57,554 --> 01:00:00,056 I know it's been a tough time, Elaine. 1170 01:00:07,981 --> 01:00:09,065 You should still sell. 1171 01:00:11,484 --> 01:00:12,652 Think you should sell. 1172 01:00:16,489 --> 01:00:18,783 And just fuck the principle of the whole thing? 1173 01:00:18,783 --> 01:00:20,743 I don't like it any more than you do. 1174 01:00:36,092 --> 01:00:37,552 You really don't think that he's fucking selling? 1175 01:00:37,552 --> 01:00:38,469 No! 1176 01:00:38,970 --> 01:00:39,804 Ladies. 1177 01:00:41,347 --> 01:00:42,181 Masks. 1178 01:00:45,727 --> 01:00:49,105 Kids are with their father for a few days. So, I'm going to Florida. 1179 01:00:49,105 --> 01:00:51,858 You finally fucking sold. Halle­fuckin-lujah. 1180 01:00:51,858 --> 01:00:53,985 No, I'm putting it on my Visa. 1181 01:00:53,985 --> 01:00:55,069 You shitting me? 1182 01:00:55,069 --> 01:00:57,238 You're worth hundreds of thousands of dollars in stock, 1183 01:00:57,238 --> 01:00:58,865 and you're amassing credit card debt. 1184 01:00:58,865 --> 01:01:00,867 You really are out of your mind. 1185 01:01:00,867 --> 01:01:04,871 No, babe, I'm all in. Diamond hand. 1186 01:01:04,871 --> 01:01:06,956 Did you know that Gabe Plotkin gave an interview? 1187 01:01:06,956 --> 01:01:09,500 He's been getting death threats, anti-Semitic messages 1188 01:01:09,500 --> 01:01:11,836 - from these WSB guys. - It was ten comments. 1189 01:01:11,836 --> 01:01:14,756 There's always bad apples. And the moderators deleted it right away. 1190 01:01:14,756 --> 01:01:16,841 You're just gonna ride this thing till zero? 1191 01:01:16,841 --> 01:01:19,052 No. I'm buying call options. 1192 01:01:19,052 --> 01:01:22,597 - That could go to 600 by tomorrow. - Your kid is never getting braces. 1193 01:01:30,605 --> 01:01:33,149 There's 8 million people in there and they're all holding. 1194 01:01:33,149 --> 01:01:34,275 It's only going to go up. 1195 01:01:34,275 --> 01:01:35,818 It's a joke, Marcos. 1196 01:01:35,818 --> 01:01:37,862 But you're treating it like it's real life. 1197 01:01:38,738 --> 01:01:39,572 Pops. 1198 01:01:41,783 --> 01:01:42,617 Look. 1199 01:01:43,660 --> 01:01:46,079 - This is real. Hold it. Look. - Hey. 1200 01:01:46,079 --> 01:01:47,038 Aw, man. 1201 01:01:48,706 --> 01:01:50,416 8 million people is real. 1202 01:01:50,416 --> 01:01:52,085 H-O-D-L. 1203 01:01:52,794 --> 01:01:56,255 8 million don't even know how to spell "hold." 1204 01:01:56,255 --> 01:01:57,173 It's a joke. 1205 01:01:57,173 --> 01:01:59,926 - A corny joke. - It's not funny. 1206 01:02:03,721 --> 01:02:04,555 Mom, 1207 01:02:05,890 --> 01:02:06,933 look. 1208 01:02:06,933 --> 01:02:09,560 I got $175,000 in stock right now. 1209 01:02:09,560 --> 01:02:10,728 What? 1210 01:02:10,728 --> 01:02:11,688 Like serious money, 1211 01:02:11,688 --> 01:02:14,774 like I could get you a house and get you up out of here, kind of money. 1212 01:02:14,774 --> 01:02:15,942 Baby. 1213 01:02:15,942 --> 01:02:18,361 Where did you get the money to buy this? 1214 01:02:18,361 --> 01:02:19,445 Uh-huh. 1215 01:02:19,445 --> 01:02:22,323 I bought call options, for cheap. 1216 01:02:22,323 --> 01:02:25,410 - And they hit. - So now you're gonna sell? 1217 01:02:25,410 --> 01:02:26,828 Nah. No, I buy more. 1218 01:02:27,662 --> 01:02:29,497 At this price!? 1219 01:02:29,497 --> 01:02:31,541 When they hit, I'm gonna buy you a mansion. 1220 01:02:31,541 --> 01:02:32,625 It's gonna be crazy. 1221 01:02:32,625 --> 01:02:35,420 My son, I don't need a mansion. 1222 01:02:37,338 --> 01:02:38,715 Papi. 1223 01:02:39,090 --> 01:02:40,258 Be careful. 1224 01:02:40,758 --> 01:02:43,136 Don't get addicted to this, my son. 1225 01:02:43,136 --> 01:02:44,846 This can be like a drug. 1226 01:02:50,893 --> 01:02:55,648 Some breaking news right now on what has turned into the soap opera 1227 01:02:55,648 --> 01:02:59,986 and, uh, saga of the markets right now. And that is the story of GameStop. 1228 01:02:59,986 --> 01:03:02,780 A month ago today, it was trading at about 20 bucks per share. 1229 01:03:02,780 --> 01:03:04,949 Two days ago, it was under $80. 1230 01:03:04,949 --> 01:03:08,369 Today, nearly $350 a share. 1231 01:03:08,369 --> 01:03:12,415 The GameStop stock frenzy even now has the attention of the White House. 1232 01:03:12,415 --> 01:03:14,834 ...our economic team including Secretary Yellen and others 1233 01:03:14,834 --> 01:03:16,502 are monitoring the situation. 1234 01:03:16,502 --> 01:03:18,921 You're witnessing the French Revolution of finance. 1235 01:03:18,921 --> 01:03:20,339 There is a rebellion aspect to it. 1236 01:03:20,339 --> 01:03:22,425 There is an anti-establishment aspect to it. 1237 01:03:22,425 --> 01:03:24,635 I don't know if Wall Street's ever seen it like this before. 1238 01:03:24,635 --> 01:03:26,220 - No. It's generational. - We never have. 1239 01:03:26,220 --> 01:03:27,930 It's like generational injustices. 1240 01:03:27,930 --> 01:03:31,392 This is like little poor guys vs. rich guys. 1241 01:03:31,392 --> 01:03:34,270 And poor guys are winning right now. 1242 01:03:34,270 --> 01:03:36,689 Fucking hold! If you're new here and you're trying to make a profit, 1243 01:03:36,689 --> 01:03:38,691 - fuck off! - Stop what you're doing, and listen up. 1244 01:03:38,691 --> 01:03:41,069 I own GameStop on Robinhood and I am not selling. 1245 01:03:41,069 --> 01:03:44,781 Hold. All you need to do is hold. Keep fucking holding. 1246 01:03:44,781 --> 01:03:48,493 Soon the Tendieman comes to send our rocket to the sun. 1247 01:03:48,493 --> 01:03:51,746 See this right here is the human being who's largely responsible 1248 01:03:51,746 --> 01:03:53,623 for all this GameStop stuff. 1249 01:03:53,623 --> 01:04:00,004 Just a pure specimen. A God-like undefeatable creature. 1250 01:04:00,004 --> 01:04:03,633 This is what excellence looks like. 1251 01:04:03,633 --> 01:04:04,759 I just like the stock. 1252 01:04:04,759 --> 01:04:08,387 Yesterday he posted this, that he's in profit, wait for it... 1253 01:04:09,388 --> 01:04:11,933 47 million. 1254 01:04:13,267 --> 01:04:15,645 What the fuck is happening? 1255 01:04:15,645 --> 01:04:19,190 What the fuck? 1256 01:04:19,190 --> 01:04:20,733 Hey, did you try a different browser? 1257 01:04:20,733 --> 01:04:23,027 - I plugged the browser. - Shit, we're fucked. 1258 01:04:24,195 --> 01:04:25,363 Bro, what the fuck? 1259 01:04:25,363 --> 01:04:27,490 - What the fuck, dude? - I told you this shit is rigged. 1260 01:04:28,908 --> 01:04:30,034 What the fuck is going on? 1261 01:04:32,578 --> 01:04:33,788 I can't get it to load. 1262 01:04:40,253 --> 01:04:41,170 Fuck! 1263 01:04:45,466 --> 01:04:46,300 What? 1264 01:04:49,470 --> 01:04:51,264 They shut down Wall Street Bets. 1265 01:04:51,764 --> 01:04:54,767 - What? -"Hateful and discriminatory content." 1266 01:04:54,767 --> 01:04:56,477 That stuff has always been on there. 1267 01:05:01,983 --> 01:05:03,317 That's weird. 1268 01:05:03,317 --> 01:05:04,318 No? 1269 01:05:05,361 --> 01:05:08,698 I mean, it's like they're trying to stop people from talking to each other. 1270 01:05:16,038 --> 01:05:17,206 Babe, are you gonna get that? 1271 01:05:17,206 --> 01:05:18,124 Yes. 1272 01:05:18,124 --> 01:05:19,041 Oh. 1273 01:05:21,169 --> 01:05:22,003 Hello? 1274 01:05:23,671 --> 01:05:26,632 Ah, yes, I am... 1275 01:05:27,133 --> 01:05:30,386 I am the Roaring Kitty and Deep F-ing Value. 1276 01:05:32,180 --> 01:05:35,600 Ah, no, but nobody ever asked me. 1277 01:05:37,685 --> 01:05:39,020 Oh, okay. 1278 01:05:39,020 --> 01:05:41,814 Sir, I just want to say how grateful I am for this job 1279 01:05:41,814 --> 01:05:43,733 and how much it means to me and my family. 1280 01:05:43,733 --> 01:05:46,152 I would never let a hobby jeopardize... 1281 01:05:47,862 --> 01:05:49,822 Okay. I understand. 1282 01:05:55,786 --> 01:05:58,247 - Yeah? - It's MassMutual. They're... 1283 01:05:58,247 --> 01:06:01,667 getting calls from reporters "concerned" about my "outside activities." 1284 01:06:01,667 --> 01:06:03,544 Was all this against the rules? 1285 01:06:03,544 --> 01:06:06,464 I wasn't...? Maybe now it is... 1286 01:06:06,464 --> 01:06:07,381 Okay. 1287 01:06:10,426 --> 01:06:11,969 Well, what was that call? 1288 01:06:13,596 --> 01:06:15,056 - Keith? - It's okay. 1289 01:06:15,056 --> 01:06:16,265 What, are you going to lose your job? 1290 01:06:16,265 --> 01:06:17,183 - What? - It's fine. 1291 01:06:18,309 --> 01:06:20,144 - They gave me a choice. - Between what? 1292 01:06:20,144 --> 01:06:21,938 Between your job and Roaring Kitty? 1293 01:06:21,938 --> 01:06:23,856 Uh... 1294 01:06:23,856 --> 01:06:26,734 - Resign or I'm fired. - That's what he just said? 1295 01:06:28,027 --> 01:06:28,945 I got it. 1296 01:06:31,239 --> 01:06:32,365 Fuck it, Wall Street Bets is down, 1297 01:06:32,365 --> 01:06:33,282 I can't see Roaring Kitty's balance sheet. 1298 01:06:33,282 --> 01:06:34,200 Oh fuck. 1299 01:06:34,200 --> 01:06:35,451 I don't know what to do. 1300 01:06:35,952 --> 01:06:37,036 This could be the sell-off. 1301 01:06:37,036 --> 01:06:39,080 I really don't wanna do that. 1302 01:06:39,080 --> 01:06:42,250 Well, me neither. But you can't let it go to zero. 1303 01:06:43,125 --> 01:06:45,461 It's 150 grand. You need that money. 1304 01:06:45,461 --> 01:06:47,922 And nobody is gonna hold if they can't see what he's doing. 1305 01:06:50,633 --> 01:06:52,093 Close your eyes and count to three. 1306 01:06:52,802 --> 01:06:53,636 One. 1307 01:06:55,638 --> 01:06:56,555 - Two. - Two. 1308 01:06:57,765 --> 01:06:58,766 - Three. - Three. 1309 01:07:02,436 --> 01:07:04,480 Your phone's ringing. 1310 01:07:04,480 --> 01:07:06,691 This is the sound of the world. 1311 01:07:06,691 --> 01:07:08,401 Your phone is ringing! 1312 01:07:08,401 --> 01:07:12,530 Oh, Robinhood. Yeah. It's an app. 1313 01:07:13,114 --> 01:07:14,407 It's on the phone. 1314 01:07:14,407 --> 01:07:16,784 - Yeah, no, your phone is ringing. - Oh. 1315 01:07:17,827 --> 01:07:20,121 Yes... 1316 01:07:20,121 --> 01:07:22,999 ♪ I'm a boss in a fucking dress... ♪ 1317 01:07:22,999 --> 01:07:24,917 Slow down, Norm, what did you say? 1318 01:07:25,418 --> 01:07:29,839 The NSCC just sent us a file, they want a deposit of 3 billion 1319 01:07:29,839 --> 01:07:31,549 to clear all the trades coming in. 1320 01:07:32,258 --> 01:07:33,551 Sorry. 1321 01:07:33,551 --> 01:07:34,635 Wait, who? 1322 01:07:34,635 --> 01:07:40,182 They're a subsidiary of the DTCC. And they're requesting 3 billion. 1323 01:07:40,182 --> 01:07:45,146 Ah... Okay. Sorry, it's a little loud in here. I thought you just said 3 billion. 1324 01:07:45,646 --> 01:07:46,689 I did! 1325 01:07:47,982 --> 01:07:50,693 - But we don't have 3 billion, Norm. - That's correct. 1326 01:07:50,693 --> 01:07:53,738 We've only ever raised 2 billion in the history of the company. 1327 01:07:54,613 --> 01:07:56,574 Holy fuck! What if we don't pay? 1328 01:07:56,574 --> 01:07:58,034 They shut us down. 1329 01:07:58,993 --> 01:08:01,996 The IPO, like, everything... poof. 1330 01:08:01,996 --> 01:08:04,874 Gretchen, Dan and I are going to jump on a call with Citadel at 9. 1331 01:08:08,711 --> 01:08:11,756 Maybe this would be a good time for me to chat with Ken Griffin. 1332 01:08:11,756 --> 01:08:14,467 Sure. We'll mention that. 1333 01:08:16,052 --> 01:08:17,345 I can't sleep. 1334 01:08:17,345 --> 01:08:18,387 Me neither. 1335 01:08:18,888 --> 01:08:20,181 I just feel sick! 1336 01:08:21,182 --> 01:08:22,767 We'll buy it back first thing. 1337 01:08:24,602 --> 01:08:26,020 Please shut up. 1338 01:08:40,868 --> 01:08:42,328 What the fuck. 1339 01:08:45,414 --> 01:08:46,540 Oh! What the fuck! 1340 01:08:47,583 --> 01:08:49,668 - What the fuck! - Okay, let me try. 1341 01:08:50,753 --> 01:08:52,129 Is it frozen? 1342 01:08:57,385 --> 01:08:59,178 They cut off the buy option. 1343 01:08:59,887 --> 01:09:01,430 What?! That's fucking criminal. 1344 01:09:01,430 --> 01:09:02,723 I can't hear you, Baiju! 1345 01:09:02,723 --> 01:09:04,100 What the fuck did you do? 1346 01:09:04,100 --> 01:09:05,810 - Calm down. - Me calm down? 1347 01:09:05,810 --> 01:09:07,395 You shut down trading on GameStop? 1348 01:09:07,395 --> 01:09:08,562 Not all trading. 1349 01:09:08,562 --> 01:09:09,730 Norm worked it out. 1350 01:09:09,730 --> 01:09:13,275 The DTCC agreed to lower the deposit to 700 million 1351 01:09:13,275 --> 01:09:15,444 if we shut off buying, and that's what I did. 1352 01:09:15,444 --> 01:09:17,488 The Depository Trade Commission? 1353 01:09:17,488 --> 01:09:19,740 They're like one degree away from Ken Griffin. 1354 01:09:19,740 --> 01:09:21,951 One more time, Baiju. 1355 01:09:21,951 --> 01:09:22,952 ...butt boys! 1356 01:09:24,954 --> 01:09:27,081 - What? - It's not going to be okay. 1357 01:09:27,081 --> 01:09:28,332 You need to fix this... 1358 01:09:28,332 --> 01:09:29,959 Shh. I know, it's okay. 1359 01:09:30,835 --> 01:09:32,253 I did fix it, Baiju. 1360 01:09:34,463 --> 01:09:37,174 We've been watching shares of GameStop all day long 1361 01:09:37,174 --> 01:09:40,845 after hitting a staggering high of $483. 1362 01:09:40,845 --> 01:09:43,806 The shares are now down to about 140. 1363 01:09:43,806 --> 01:09:46,767 Now, the best we can tell is the Robinhood app 1364 01:09:46,767 --> 01:09:51,397 that seems to have triggered what really has become a panic sell-off in this name. 1365 01:09:51,397 --> 01:09:56,026 And so if you're a retail investor or a Reddit user and you've held, 1366 01:09:56,026 --> 01:09:58,779 well, you are feeling some serious pain right now. 1367 01:09:59,989 --> 01:10:01,157 Oh God. 1368 01:10:02,616 --> 01:10:03,451 Fuck. 1369 01:10:03,451 --> 01:10:05,411 Now the criticism centered on Robinhood 1370 01:10:05,411 --> 01:10:09,373 for abandoning their followers here in favor of helping those who had shorted 1371 01:10:09,373 --> 01:10:10,916 all these stocks in the first place. 1372 01:10:10,916 --> 01:10:13,377 I don't particularly like the move on Robinhood today. 1373 01:10:13,377 --> 01:10:15,171 I'm talking to people this morning that say, 1374 01:10:15,171 --> 01:10:17,047 "Okay, that is anti-capitalism. 1375 01:10:17,047 --> 01:10:18,549 - You can't do that." - Fuck you, Robinhood! 1376 01:10:18,549 --> 01:10:23,262 There's been some controversy about Citadel and some vague accusations 1377 01:10:23,262 --> 01:10:26,432 that somehow Citadel may have been involved in Robinhood's decision, Wolf, 1378 01:10:26,432 --> 01:10:29,894 to stop or restrict trading in GameStop and other shorts... 1379 01:10:29,894 --> 01:10:30,936 Who is it from? 1380 01:10:30,936 --> 01:10:33,731 The Tendieman...? 1381 01:10:35,608 --> 01:10:36,525 Come back inside. 1382 01:10:36,525 --> 01:10:38,068 Diamond fucking hands! 1383 01:10:40,237 --> 01:10:44,408 We all know how I feel about him. I think he's a rat, a liar. 1384 01:10:44,408 --> 01:10:49,246 Okay, Vlad, you know everybody here who's watching us hates your guts, right? 1385 01:10:50,247 --> 01:10:53,751 Thank you, Dave, that's, uh... that's what I hear. 1386 01:10:53,751 --> 01:10:57,671 But I'm a really big fan of your show and hopefully I can answer 1387 01:10:57,671 --> 01:10:59,798 - some of your questions. - Vlad, can you hear us? 1388 01:10:59,798 --> 01:11:02,801 - Vlad the stock impaler. - Yes, I'm here... Hi. 1389 01:11:02,801 --> 01:11:04,929 Spill the beans, man, what happened last week? 1390 01:11:04,929 --> 01:11:07,723 Why couldn't people buy GameStop shares? 1391 01:11:07,723 --> 01:11:09,642 The people demand an answer. 1392 01:11:09,642 --> 01:11:13,187 To give you some background, I'm chief executive of Robinhood... 1393 01:11:13,187 --> 01:11:14,522 - Robbing executive. - Yeah, we know that. 1394 01:11:14,522 --> 01:11:16,190 And I just want to say, 1395 01:11:16,190 --> 01:11:18,859 - we had no liquidity problem. - Well, did something maybe shady 1396 01:11:18,859 --> 01:11:20,694 go down here? Seems weird that you'd get a sudden 1397 01:11:20,694 --> 01:11:22,821 - 10 billion dollar demand... You know. - Three, 3 billion... 1398 01:11:22,821 --> 01:11:25,032 - Okay, but 3 billion just suddenly, - Yeah. 1399 01:11:25,032 --> 01:11:27,117 - out of nowhere and... - Well, I wouldn't impute 1400 01:11:27,117 --> 01:11:30,246 any shadiness to any of this, um... 1401 01:11:30,246 --> 01:11:32,456 I don't have the full context, uh, 1402 01:11:32,456 --> 01:11:34,959 as to what was going on with the NSCC to, 1403 01:11:34,959 --> 01:11:38,003 to, uh, make these calculations. 1404 01:11:38,003 --> 01:11:40,464 To what degree are you beholden to Citadel? 1405 01:11:40,464 --> 01:11:43,842 I mean, like, basically, if Citadel is unhappy, then what happens? 1406 01:11:43,842 --> 01:11:46,804 - It was a hard temperance. - Is anyone holding you hostage right now? 1407 01:11:46,804 --> 01:11:47,721 Uh, no. 1408 01:11:47,721 --> 01:11:51,600 There's just no rational explanation on why they would do what they did 1409 01:11:51,600 --> 01:11:54,311 without outside pressure, interference. 1410 01:11:54,311 --> 01:11:56,981 And they basically cratered the stock on purpose. 1411 01:11:56,981 --> 01:12:00,025 So, I just don't believe anything that guy says. 1412 01:12:00,025 --> 01:12:02,403 I wanted to take a cold shower after seeing him say that. 1413 01:12:02,403 --> 01:12:05,072 Robinhood is facing lawsuits, we know that. 1414 01:12:05,072 --> 01:12:07,449 After halting trade, they are accused 1415 01:12:07,449 --> 01:12:09,618 - of rigging the market. - When the big guys, 1416 01:12:09,618 --> 01:12:12,871 including one of your main investors in your company started to lose, 1417 01:12:12,871 --> 01:12:15,541 you shut down the game to starve the little guy. 1418 01:12:15,541 --> 01:12:18,544 They're stealing from the poor and giving back to the rich. 1419 01:12:18,544 --> 01:12:21,922 They're robbing from the 'hood! Why? 1420 01:12:21,922 --> 01:12:24,967 - I want to be 100% clear, - All of you guys deserve to burn in hell. 1421 01:12:24,967 --> 01:12:26,343 - this decision to... - And go to jail. 1422 01:12:26,343 --> 01:12:27,469 restrict trade was not made on the direction 1423 01:12:27,469 --> 01:12:28,721 I'm just trying to get my mom out the 'hood. 1424 01:12:28,721 --> 01:12:31,515 - of Citadel or any market maker. - What the fuck? Fuck you! 1425 01:12:31,515 --> 01:12:32,933 And your Mama Dukes, you motherfucking fraud. 1426 01:12:32,933 --> 01:12:33,851 Fuck this guy. 1427 01:12:34,727 --> 01:12:37,229 This guy is just an obfuscating piece of shit. 1428 01:12:37,229 --> 01:12:38,522 Fucker. 1429 01:12:38,522 --> 01:12:40,858 There's only one man I wanna hear from right now. 1430 01:12:40,858 --> 01:12:43,485 And Wall Street Bets is down, so it's crickets. 1431 01:12:43,485 --> 01:12:45,070 It's crickets out here. 1432 01:12:45,946 --> 01:12:47,072 Say it with me. 1433 01:12:47,573 --> 01:12:49,575 - Where my pussy at! - Where my pussy at! 1434 01:12:50,284 --> 01:12:51,827 - Mr. Gill! - Mr. Gill! 1435 01:12:52,620 --> 01:12:56,457 - Roaring Kitty, I fucking love you! - Keith Gill! 1436 01:12:56,457 --> 01:12:58,208 - Keith Gill, please! - Okay. 1437 01:12:58,208 --> 01:13:01,337 - Please. - Oh, sorry, this is, like, my house, uh... 1438 01:13:01,337 --> 01:13:02,921 - You want my autograph? - Yeah. 1439 01:13:03,839 --> 01:13:04,715 You've been served. 1440 01:13:07,801 --> 01:13:10,638 Hey, to the moon, baby! To the moon. 1441 01:13:10,638 --> 01:13:11,847 Holy shit. 1442 01:13:16,769 --> 01:13:20,606 Sorry to interrupt. We need to talk about the GameStop situation. 1443 01:13:20,606 --> 01:13:21,982 I thought Mecane was handling it. 1444 01:13:21,982 --> 01:13:24,818 So did we. But the committee's specifically requested you, sir. 1445 01:13:24,818 --> 01:13:27,029 If they want specifics, they can have Mecane. 1446 01:13:27,738 --> 01:13:29,657 It's not a choice, unfortunately. 1447 01:13:33,869 --> 01:13:35,120 Shitballs. 1448 01:13:37,915 --> 01:13:38,874 Keith? 1449 01:13:40,417 --> 01:13:43,504 - A congressional subpoena. - I never did anything illegal. 1450 01:13:43,504 --> 01:13:44,963 And I always had disclaimers... 1451 01:13:45,631 --> 01:13:47,841 Why would you have disclaimers if you weren't worried? 1452 01:13:48,384 --> 01:13:50,803 They're standard practice, Caroline, everyone has them. 1453 01:13:55,808 --> 01:13:56,642 Babe... 1454 01:14:00,187 --> 01:14:02,731 - the answer is not in your computer. - Whoa! 1455 01:14:03,357 --> 01:14:07,319 There's a dozen reporters on our lawn! You have to testify before Congress. 1456 01:14:07,986 --> 01:14:10,739 - The game has changed. - I know. I hear you. 1457 01:14:10,739 --> 01:14:12,157 I don't think you do. 1458 01:14:17,705 --> 01:14:19,123 Oh, my God. We're... 1459 01:14:20,666 --> 01:14:22,000 We're gonna go to my mother's. 1460 01:14:22,000 --> 01:14:24,169 No, she has terrible Wi-Fi. 1461 01:14:24,169 --> 01:14:26,213 I'm not talking about you. 1462 01:14:26,213 --> 01:14:28,090 I'm talking about me and her. 1463 01:14:28,841 --> 01:14:30,384 You need to figure this out. 1464 01:14:43,564 --> 01:14:45,441 - Where are you going? - To the track. 1465 01:14:45,441 --> 01:14:47,776 - You were just on the track. - I'm going again. 1466 01:14:58,287 --> 01:15:00,706 Hi. Can I interest you in some champagne or a mimosa? 1467 01:15:00,706 --> 01:15:03,000 - Is it free? - It is when you sit up here. 1468 01:15:03,000 --> 01:15:05,002 Well, there is a last time for everything. 1469 01:15:05,002 --> 01:15:06,503 Oh, you'll be back. 1470 01:15:06,503 --> 01:15:10,758 I had half a million in stocks last week, but Wall Street cheated. 1471 01:15:11,258 --> 01:15:12,426 Surprise, surprise. 1472 01:15:14,219 --> 01:15:15,471 I could have cashed out. 1473 01:15:16,597 --> 01:15:18,390 I could have paid my mortgage. 1474 01:15:18,390 --> 01:15:20,058 Could have gotten my kid braces. 1475 01:15:20,058 --> 01:15:20,976 Got a new car. 1476 01:15:20,976 --> 01:15:22,728 Honey, I'm gonna get you something stronger. 1477 01:15:22,728 --> 01:15:24,229 - Thank you. - You're welcome. 1478 01:15:30,360 --> 01:15:31,487 Meow! 1479 01:15:31,487 --> 01:15:32,613 Kitty! 1480 01:15:32,613 --> 01:15:35,324 You know you can't just eat other people's food. They do reviews, right? 1481 01:15:35,324 --> 01:15:36,366 Very funny. 1482 01:15:36,366 --> 01:15:37,284 Here. 1483 01:15:37,868 --> 01:15:39,161 What's this? 1484 01:15:39,161 --> 01:15:40,621 Look, they were on sale, all right, 1485 01:15:40,621 --> 01:15:43,665 - before you get all emotional and shit. - Holy shit, you fucking softy. 1486 01:15:43,665 --> 01:15:45,876 Who put you up to this? Caro? Ma? 1487 01:15:45,876 --> 01:15:47,669 No, Dad called me in tears, 1488 01:15:47,669 --> 01:15:49,505 said my big brother needed some moral support. 1489 01:15:49,505 --> 01:15:51,965 Ah, fuck off. I can't. 1490 01:15:51,965 --> 01:15:54,051 C'mon, man. Will you at least try 'em on? Please? 1491 01:15:54,051 --> 01:15:56,094 Try 'em. C'mon, you're the richest man in Brockton, 1492 01:15:56,094 --> 01:15:58,680 - you dress like an asshole. - I lost 15 million yesterday. 1493 01:15:58,680 --> 01:16:00,641 And another 15 the day before that. 1494 01:16:00,641 --> 01:16:03,018 You're still the richest man in Brockton, like, by far. 1495 01:16:03,685 --> 01:16:07,523 Bro, you got rich dudes pissing in their pants right now. 1496 01:16:07,523 --> 01:16:10,317 I mean, c'mon, man, how many people from Brockton High can say that? 1497 01:16:10,317 --> 01:16:11,485 This has gone crazy, 1498 01:16:11,485 --> 01:16:14,321 I got reporters hounding me outside my house. 1499 01:16:14,321 --> 01:16:16,448 Yeah, man, me too. They're coming after you. 1500 01:16:18,033 --> 01:16:19,743 You didn't talk to them, did you? 1501 01:16:19,743 --> 01:16:23,080 What do I look like? I said no. I said give me 50 grand maybe. 1502 01:16:23,080 --> 01:16:24,164 Tell me you're kidding. 1503 01:16:24,164 --> 01:16:26,834 Well, if you give me 20, then maybe we wouldn't have to deal with this shit. 1504 01:16:26,834 --> 01:16:27,876 The fuck is wrong with you!? 1505 01:16:27,876 --> 01:16:31,296 Kevin, I've just been subpoenaed by Congress, man. 1506 01:16:31,296 --> 01:16:32,965 I do not have time for your bullshit. 1507 01:16:32,965 --> 01:16:35,509 - Oh, come off it, man! - Seriously, asshole. 1508 01:16:35,509 --> 01:16:37,469 - Chill! It was a joke! - Fuck! 1509 01:16:45,394 --> 01:16:46,228 I know. 1510 01:16:47,062 --> 01:16:47,938 Sorry. 1511 01:16:55,028 --> 01:16:57,197 We never used to fight this much. 1512 01:17:00,117 --> 01:17:02,077 - Sara. - I miss her. 1513 01:17:02,703 --> 01:17:03,579 Me too. 1514 01:17:04,162 --> 01:17:05,581 She kept your ego in check. 1515 01:17:06,248 --> 01:17:08,417 Whole fuckin' world kept my ego in check. 1516 01:17:09,501 --> 01:17:12,170 What the fuck are you gonna tell Congress, Keith? Huh? 1517 01:17:13,255 --> 01:17:15,299 Beg them not to send me to prison? 1518 01:17:17,551 --> 01:17:18,385 Hey... 1519 01:17:19,136 --> 01:17:23,265 Hey, do you remember back at Stonehill when they dared me to run that mile naked? 1520 01:17:23,765 --> 01:17:25,475 Yeah, there was a crazy storm that night. 1521 01:17:25,475 --> 01:17:27,185 - You dumb shit. - Fuck you, man. 1522 01:17:27,185 --> 01:17:29,605 That was dope, man. I'm a legend over there. 1523 01:17:29,605 --> 01:17:30,856 Everybody remembers that! 1524 01:17:30,856 --> 01:17:31,982 - Okay. - They do, man. 1525 01:17:31,982 --> 01:17:34,026 You don't think people remember your 4-minute 3-second mile? 1526 01:17:34,026 --> 01:17:35,986 Oh... what is this, a pep talk? 1527 01:17:35,986 --> 01:17:37,487 Motherfucker, stop hiding. 1528 01:17:37,487 --> 01:17:41,033 Seriously. Okay, stop being all meek and shit and running away. 1529 01:17:41,867 --> 01:17:44,411 What, you want me to run through lightning with my dick out? 1530 01:17:44,411 --> 01:17:45,412 Yeah. 1531 01:17:45,412 --> 01:17:47,581 Please, exactly that. 1532 01:17:48,290 --> 01:17:50,584 Run through lightning with your dick out. Fuck it. 1533 01:17:58,800 --> 01:18:00,260 You didn't go to your mom's? 1534 01:18:02,179 --> 01:18:03,388 You took the car. 1535 01:18:05,140 --> 01:18:07,225 How was the run? Did it clear your head? 1536 01:18:08,018 --> 01:18:09,561 Kev found me, brought me these. 1537 01:18:09,561 --> 01:18:12,064 Hm. You guys talked? 1538 01:18:12,564 --> 01:18:15,317 Yup, he, uh, told me to run naked. 1539 01:18:15,817 --> 01:18:17,402 - You ran naked? - No. 1540 01:18:17,402 --> 01:18:21,573 Uh, it's a metaphor. He's saying I gotta take this thing head on. 1541 01:18:22,658 --> 01:18:23,492 Well... 1542 01:18:29,081 --> 01:18:30,666 I'd kinda like to see you run naked. 1543 01:18:34,294 --> 01:18:36,964 By the way, Wall Street Bets is back up. 1544 01:18:38,590 --> 01:18:39,967 The motherfucker held. 1545 01:18:40,717 --> 01:18:45,097 Holy shit! He lost 30 million, and he still fucking held. 1546 01:18:48,475 --> 01:18:50,185 - Robinhood's back up. - What? 1547 01:18:50,978 --> 01:18:53,397 - We gotta get back in. - Where's the stock at right now? 1548 01:18:54,147 --> 01:18:55,148 109. 1549 01:18:55,649 --> 01:18:56,692 Are you sure? 1550 01:18:57,192 --> 01:18:59,945 That's like all of the money that we made back into the stock. 1551 01:19:03,824 --> 01:19:06,326 Yeah. We can't let them get away with this. 1552 01:19:08,412 --> 01:19:09,246 Fuck 'em. 1553 01:19:09,830 --> 01:19:11,039 If he's in, I'm in. 1554 01:19:11,915 --> 01:19:13,125 If he's in, I'm in. 1555 01:19:16,628 --> 01:19:17,629 Okay. 1556 01:19:19,297 --> 01:19:20,257 Fuck! 1557 01:19:26,304 --> 01:19:30,934 The frenzy continues with retail investors bidding back up GameStop. 1558 01:19:30,934 --> 01:19:33,103 - Meme stock mania is back. - ...up more than 80% 1559 01:19:33,103 --> 01:19:35,647 as those message board traders simply sent it higher. 1560 01:19:35,647 --> 01:19:37,315 Stock volatility continuing, 1561 01:19:37,315 --> 01:19:40,193 it looks like this morning once again GameStop are involved in 1562 01:19:40,193 --> 01:19:43,613 an ongoing battle between retail investors and short sellers. 1563 01:19:43,613 --> 01:19:45,157 We're gonna have a lot more on this story. 1564 01:19:45,157 --> 01:19:48,243 CEOs of Robinhood, Reddit, Citadel and Melvin Capital. 1565 01:19:48,243 --> 01:19:51,663 Along with Keith Gill, better known as Roaring Kitty 1566 01:19:51,663 --> 01:19:55,042 on social media, will be in the hot seat. 1567 01:19:59,504 --> 01:20:02,591 I'm here testifying today far removed from my background. 1568 01:20:02,591 --> 01:20:05,677 I grew up in a middle-class family in Portland, Maine. 1569 01:20:05,677 --> 01:20:07,345 My dad was a grocery store executive. 1570 01:20:07,345 --> 01:20:08,805 Maybe leave that part out. 1571 01:20:10,140 --> 01:20:11,224 The part about my dad? 1572 01:20:11,224 --> 01:20:12,350 The executive part. 1573 01:20:12,350 --> 01:20:13,935 Okay... okay. 1574 01:20:17,272 --> 01:20:21,735 I went to a public high school. I studied hard and got into Northwestern. 1575 01:20:21,735 --> 01:20:23,820 - Just say "a good college." - Upon... 1576 01:20:23,820 --> 01:20:25,405 I can't say I went to Northwestern? 1577 01:20:25,405 --> 01:20:27,282 - Too elite. - Northwestern's too... 1578 01:20:27,949 --> 01:20:28,784 All right. 1579 01:20:32,788 --> 01:20:37,375 Upon graduation, I did not have a job. Today, I'm married with four children. 1580 01:20:37,375 --> 01:20:39,628 Gabe, where do you plan on doing your testimony? 1581 01:20:42,005 --> 01:20:44,758 - Here. - In front of your wine collection? 1582 01:20:46,802 --> 01:20:49,971 I mean, this is... I don't have that big of a wine collection honestly. 1583 01:20:49,971 --> 01:20:51,014 Yeah, it's huge. 1584 01:20:51,014 --> 01:20:52,933 Digital risks seem to be overblown. 1585 01:20:52,933 --> 01:20:55,435 Two, the negative sentiment is overdone. 1586 01:20:55,435 --> 01:20:59,231 - Three, the value... - Maybe... here would be nice. 1587 01:21:02,526 --> 01:21:04,528 - Too many windows. - Too many windows... Oh. 1588 01:21:04,528 --> 01:21:05,695 It's very bright. 1589 01:21:05,695 --> 01:21:08,865 - Yeah, ocean front's not a great idea. - It's blue. 1590 01:21:08,865 --> 01:21:10,617 Yeah. Okay, I hadn't thought of that. 1591 01:21:10,617 --> 01:21:13,537 That, uh, yeah, downstairs there's more... there's probably darker rooms. 1592 01:21:13,537 --> 01:21:15,705 What a bandit. Most of you know this guy, 1593 01:21:15,705 --> 01:21:17,332 who is the Roaring Kitty character, 1594 01:21:17,332 --> 01:21:18,792 - who was really pushing it. - Holy shit. 1595 01:21:18,792 --> 01:21:20,836 - You know, voicing the information. - Yo, Riri, our boy's on the news. 1596 01:21:20,836 --> 01:21:22,754 And what's the potentially systemic risk? 1597 01:21:22,754 --> 01:21:25,090 Those relationships in D.C. are strong. 1598 01:21:25,090 --> 01:21:29,219 The guys who run those hedge funds are the guys who fund presidential campaigns. 1599 01:21:29,219 --> 01:21:31,179 - You know Roaring Kitties don't have - That's a good point. 1600 01:21:31,179 --> 01:21:32,597 - that kind of influence, - Gill is now being sued 1601 01:21:32,597 --> 01:21:33,682 - but the hedge fund managers do. - for securities fraud 1602 01:21:33,682 --> 01:21:36,017 over his alleged role in the GameStop rally. 1603 01:21:36,017 --> 01:21:38,895 Is Mr. Gill likely to appear, and if he appears, 1604 01:21:38,895 --> 01:21:43,066 is he likely to talk if he faces the potential of prosecution? 1605 01:21:43,066 --> 01:21:48,071 Fundamentals are based on three things: One, digital risks are overblown. 1606 01:21:48,071 --> 01:21:49,990 Two, the negative sentiment is overdone. 1607 01:21:49,990 --> 01:21:51,199 And three... 1608 01:21:54,911 --> 01:21:55,745 Fuck. 1609 01:21:55,745 --> 01:21:57,956 - Ah, c'mon, shut up. - I know all this. 1610 01:21:59,374 --> 01:22:01,877 You guys, you guys, stop. Stop, let's keep going. 1611 01:22:01,877 --> 01:22:03,003 All right, let's go again. 1612 01:22:03,003 --> 01:22:05,338 You're right, this is serious. You can go to jail forever. 1613 01:22:05,338 --> 01:22:06,965 - A long time. Long, long time. - All right. You ready? 1614 01:22:06,965 --> 01:22:08,925 You ready here we go. Back in the game. 1615 01:22:08,925 --> 01:22:12,095 - Mr. Gill. May I call you Mr. Gill, sir? - It's my name. 1616 01:22:12,095 --> 01:22:14,598 Why the fuck wouldn't you be able to call him Mr. Gill? 1617 01:22:14,598 --> 01:22:16,558 What were your intentions with the YouTube videos 1618 01:22:16,558 --> 01:22:18,185 and your social media posts on GameStop? 1619 01:22:18,185 --> 01:22:19,769 - Yes. - Thank you, congresswoman. 1620 01:22:19,769 --> 01:22:21,271 You're welcome. 1621 01:22:21,271 --> 01:22:23,398 I developed a theory that the company was undervalued 1622 01:22:23,398 --> 01:22:25,192 despite the significant short interest. 1623 01:22:25,192 --> 01:22:27,194 Oh, so you were aware of the short interest. 1624 01:22:27,194 --> 01:22:29,779 It is public knowledge. You can see it in the SEC filings. 1625 01:22:29,779 --> 01:22:32,115 And your goal was to break these shorts, yes? 1626 01:22:32,115 --> 01:22:35,744 To rally an online mob to artificially push the price of GameStop soaring, 1627 01:22:35,744 --> 01:22:38,872 ah, "to the moon" as they say, isn't that correct, Mr. Gill? 1628 01:22:38,872 --> 01:22:40,832 Objection, objection, you're leading the witness. 1629 01:22:40,832 --> 01:22:41,917 - Kev... - Witness. 1630 01:22:41,917 --> 01:22:43,376 I yield my time to the chair. 1631 01:22:43,376 --> 01:22:45,837 You were hoping for the short squeeze, weren't you, Mr. Gill? 1632 01:22:45,837 --> 01:22:47,005 You short squeezing bastard. 1633 01:22:47,005 --> 01:22:49,090 The short squeeze was a marginal point of the thesis. 1634 01:22:49,090 --> 01:22:51,259 Then why did you talk about it in your videos all the time? 1635 01:22:51,259 --> 01:22:53,094 You did talk about it in your videos. You talked about it a lot. 1636 01:22:53,094 --> 01:22:54,638 - You remember about the squeeze. - Exactly. 1637 01:22:54,638 --> 01:22:55,847 You were like "It's just a little squeeze." 1638 01:22:55,847 --> 01:22:56,848 Exactly. 1639 01:22:56,848 --> 01:22:59,392 Are you really asking us to believe that you weren't a leader 1640 01:22:59,392 --> 01:23:01,603 - to all these retail traders? - You're fucked, buddy. 1641 01:23:01,603 --> 01:23:03,772 - My point of view... - Asking. Yes or no? 1642 01:23:03,772 --> 01:23:05,273 - Yes or no? - Yes. So yes. 1643 01:23:05,273 --> 01:23:06,483 - Yes or no? - You are admitting it. Yes. 1644 01:23:06,483 --> 01:23:07,901 Remember you with a cheap bottle of champagne. 1645 01:23:07,901 --> 01:23:09,110 At any moment... Kevin! 1646 01:23:09,110 --> 01:23:10,153 - Kevin! - Dunking tendies like a fucking-- 1647 01:23:10,153 --> 01:23:11,071 What? 1648 01:23:12,364 --> 01:23:14,741 I'm running with my dick out. 1649 01:23:15,825 --> 01:23:17,202 Okay, why don't you just say that? 1650 01:23:17,202 --> 01:23:18,578 Okay, I'll stop. 1651 01:23:19,371 --> 01:23:24,251 All right. Mr. Gill, what exactly about the fundamentals 1652 01:23:24,251 --> 01:23:27,545 - led you to build this bull case? - What the fuck's with the voice? 1653 01:23:27,545 --> 01:23:29,881 I don't know, I was trying to do AOC, but it was flat. 1654 01:23:29,881 --> 01:23:31,174 I don't even think she's on the panel. 1655 01:23:31,174 --> 01:23:32,384 You shut the fuck up, Briggsy. 1656 01:23:32,384 --> 01:23:33,760 - I'll slap the shit out of you. - Is she on that panel? 1657 01:23:33,760 --> 01:23:34,678 - I swear to God. - You're gonna slap me? 1658 01:23:34,678 --> 01:23:36,054 - Yeah, let's go. - You ready to go? 1659 01:23:36,054 --> 01:23:38,723 - Let's go. - I've been waiting for this, dog. 1660 01:23:56,157 --> 01:23:56,992 Come here. 1661 01:24:05,750 --> 01:24:07,711 You're gonna be great. 1662 01:24:08,962 --> 01:24:11,673 If it goes bad, it's gonna be real bad. 1663 01:24:11,673 --> 01:24:13,466 Well, don't let it go bad. 1664 01:24:13,466 --> 01:24:17,721 This hearing will be first in a series of hearings by the committee 1665 01:24:17,721 --> 01:24:22,809 to examine the recent market volatility involving GameStop. 1666 01:24:22,809 --> 01:24:27,397 I want to know how each of the witnesses here today 1667 01:24:27,397 --> 01:24:29,566 - contributed to the historic... - Gabe, can you sit up? 1668 01:24:29,566 --> 01:24:32,736 trading events in January. 1669 01:24:33,278 --> 01:24:35,530 This recent market volatility 1670 01:24:35,530 --> 01:24:40,118 has put a national spotlight on institutional practices 1671 01:24:40,118 --> 01:24:41,786 by Wall Street firms. 1672 01:24:41,786 --> 01:24:45,457 And they have demonstrated the enormous potential power 1673 01:24:45,457 --> 01:24:48,168 of social media in our markets. 1674 01:24:48,752 --> 01:24:52,297 We will hear firsthand from the witnesses regarding these events. 1675 01:24:52,922 --> 01:24:57,093 The hearing will be an opportunity for this committee to get the facts 1676 01:24:57,093 --> 01:25:00,347 about the role each of the witnesses represent, 1677 01:25:00,347 --> 01:25:03,975 played in the events we are examining today. 1678 01:25:03,975 --> 01:25:06,436 Well, now, Mr. Griffin, if I could ask you this first question. 1679 01:25:06,436 --> 01:25:07,354 Of course. 1680 01:25:07,354 --> 01:25:09,522 How many people are in the room with you? 1681 01:25:10,398 --> 01:25:11,441 That's your question? 1682 01:25:11,441 --> 01:25:13,526 If you can just count how many people are in the room with you. 1683 01:25:18,156 --> 01:25:21,659 There are five people, including myself, in this room. 1684 01:25:21,659 --> 01:25:23,328 - Anyone in your organization... - Such a prick. 1685 01:25:23,328 --> 01:25:25,538 since January 1st, contact Robinhood? 1686 01:25:25,538 --> 01:25:30,377 We of course talk to Robinhood routinely in the ordinary course of business. 1687 01:25:30,377 --> 01:25:32,712 We manage a substantial portion of their order flow. 1688 01:25:32,712 --> 01:25:35,090 But did you talk to them about restricting 1689 01:25:35,090 --> 01:25:39,302 or doing anything to prevent people from buying GameStop? 1690 01:25:39,302 --> 01:25:42,097 I want to be perfectly clear. 1691 01:25:42,097 --> 01:25:45,809 We had no role in Robinhood's decision 1692 01:25:45,809 --> 01:25:48,061 - to limit trading in GameStop. - Fuck you, Ken Griffin. 1693 01:25:48,061 --> 01:25:51,940 So, if we depose everyone in your organization, we would find that? 1694 01:25:52,607 --> 01:25:53,525 That is correct. 1695 01:25:53,525 --> 01:25:56,152 Looks like a Disney Channel villain. 1696 01:25:56,152 --> 01:26:00,740 Mr. Plotkin, do you believe that there is manipulation, distrust, 1697 01:26:00,740 --> 01:26:03,660 and overall inequality within American finance? 1698 01:26:03,660 --> 01:26:05,829 My focus is on my company, Melvin... 1699 01:26:07,497 --> 01:26:08,665 Hello? 1700 01:26:08,665 --> 01:26:10,375 You're on mute, dick! 1701 01:26:10,375 --> 01:26:12,001 Ah, I'm sorry, you're on mute. 1702 01:26:16,214 --> 01:26:17,882 He just keeps going. 1703 01:26:17,882 --> 01:26:19,717 ...my area of expertise. 1704 01:26:19,717 --> 01:26:23,471 You're still on mute. I haven't been able to hear a word you said, unfortunately. 1705 01:26:23,471 --> 01:26:25,849 Mr. Tenev, would you be willing to commit today 1706 01:26:25,849 --> 01:26:28,017 - to voluntarily pass on the proceeds... - Oh. Marry me. 1707 01:26:28,017 --> 01:26:30,812 of the payment for order flow to Robinhood customers? 1708 01:26:30,812 --> 01:26:33,356 Congresswoman, I appreciate that question. 1709 01:26:33,356 --> 01:26:37,569 When the statement you refer to was made, it was before Robinhood forced 1710 01:26:37,569 --> 01:26:39,571 the entire industry to drop 1711 01:26:39,571 --> 01:26:41,281 - commissions and replicate our... - I should take that as a no. 1712 01:26:41,281 --> 01:26:44,117 You're not willing to pass on the proceeds of payment for order flow 1713 01:26:44,117 --> 01:26:45,076 to your customers? 1714 01:26:45,076 --> 01:26:47,787 - When the other brokers drop... - I'm just talking about today. 1715 01:26:47,787 --> 01:26:48,997 - Asshole. - I don't want to be rude. 1716 01:26:48,997 --> 01:26:50,373 I just have limited time, 1717 01:26:50,373 --> 01:26:54,377 but if removing the revenues that you make from a payment for order flow 1718 01:26:54,377 --> 01:26:57,881 would cause the removal of free commissions, 1719 01:26:57,881 --> 01:26:59,674 doesn't that mean that trading on Robinhood 1720 01:26:59,674 --> 01:27:01,634 isn't actually free to begin with? 1721 01:27:01,634 --> 01:27:03,011 Good question. 1722 01:27:09,642 --> 01:27:11,895 Thank you very much, Mr. Gill. 1723 01:27:11,895 --> 01:27:16,524 You are now recognized for five minutes to present your oral testimony. 1724 01:27:28,453 --> 01:27:30,914 Thank you, members of the committee. 1725 01:27:33,458 --> 01:27:36,753 I am happy to discuss my purchase of GameStop shares 1726 01:27:37,337 --> 01:27:40,715 and my discussions of their fair value on social media. 1727 01:27:41,549 --> 01:27:43,176 But before I do that, 1728 01:27:43,176 --> 01:27:45,094 a few things I am not: 1729 01:27:46,888 --> 01:27:48,097 I am not a cat. 1730 01:27:49,641 --> 01:27:51,893 - What did he say? - He just said cat, Ma. 1731 01:27:51,893 --> 01:27:53,186 It's like a kitty thing. 1732 01:27:53,186 --> 01:27:55,605 Nor am I a hedge fund. I do not have clients, 1733 01:27:55,605 --> 01:28:00,944 and I do not provide personalized investment advice for fees or commissions. 1734 01:28:00,944 --> 01:28:03,029 I grew up in Brockton, Mass. 1735 01:28:03,780 --> 01:28:05,657 My family was not wealthy. 1736 01:28:05,657 --> 01:28:08,993 My father was a truck driver and my mom a registered nurse. 1737 01:28:08,993 --> 01:28:11,204 - That's you, Ma! - I was one of three kids 1738 01:28:11,204 --> 01:28:14,290 and the first in my family to earn a four-year college degree 1739 01:28:14,290 --> 01:28:18,461 when I graduated from Stonehill College in 2009. 1740 01:28:18,461 --> 01:28:20,588 That was not a good time to be looking for a job. 1741 01:28:20,588 --> 01:28:23,091 From 2010-2017, 1742 01:28:23,091 --> 01:28:26,553 there were significant periods when I was unemployed. 1743 01:28:26,553 --> 01:28:28,930 I took an interest in the stock market, 1744 01:28:28,930 --> 01:28:31,224 and even though I had very little money, 1745 01:28:31,224 --> 01:28:35,436 I used those times to educate myself and learn more about investing. 1746 01:28:35,436 --> 01:28:39,399 Mr. Gill, I find it hard to believe that you predicted everything 1747 01:28:39,399 --> 01:28:43,069 that happened to GameStop with no inside information. 1748 01:28:43,069 --> 01:28:44,821 Uh, I didn't predict it. 1749 01:28:44,821 --> 01:28:48,199 I honestly couldn't explain everything that happened in January. 1750 01:28:48,199 --> 01:28:52,036 I've seen your videos. You honestly couldn't recount to the committee 1751 01:28:52,036 --> 01:28:56,624 what caused every single up and down of the stock in January? 1752 01:28:57,208 --> 01:28:58,334 I think you could. 1753 01:28:59,669 --> 01:29:03,047 I did follow the stock, uh, very closely, 1754 01:29:03,047 --> 01:29:06,676 but threshold lists, order flows, halting purchases, according to the press, 1755 01:29:06,676 --> 01:29:08,636 these all had a material impact on the stock. 1756 01:29:08,636 --> 01:29:11,306 Here's the thing: I have a bit of experience with this stuff, 1757 01:29:11,306 --> 01:29:13,308 and even I barely understand these matters. 1758 01:29:13,308 --> 01:29:17,186 It's alarming how little we all know about the inner workings of the market. 1759 01:29:17,186 --> 01:29:19,897 Which is why I'm glad this committee is examining what happened, 1760 01:29:19,897 --> 01:29:22,692 particularly with the exorbitant short interest 1761 01:29:22,692 --> 01:29:25,653 as well as any potentially manipulative shorting practices 1762 01:29:25,653 --> 01:29:29,824 and brokers' reported failures to timely deliver shares and settle trades. 1763 01:29:33,119 --> 01:29:35,330 A lot of people feel the system is broken. 1764 01:29:35,330 --> 01:29:39,417 The whole idea of the stock market is to be, like, kind of a fair playing field, 1765 01:29:39,417 --> 01:29:43,338 where if you're smart, maybe with a little luck, you could make your fortune. 1766 01:29:44,130 --> 01:29:46,466 But, if it ever was that, it's certainly not any more. 1767 01:29:47,550 --> 01:29:50,887 The big firms have such a big advantage, in terms of technology and information 1768 01:29:50,887 --> 01:29:54,223 and just sheer wealth, there's no hope for the little guy anymore. 1769 01:29:54,974 --> 01:29:56,851 Or there was no hope. 1770 01:29:57,602 --> 01:29:59,646 Maybe now, there is. 1771 01:30:01,814 --> 01:30:03,274 And as for me, 1772 01:30:03,983 --> 01:30:05,151 I like the stock. 1773 01:30:06,152 --> 01:30:08,613 He's a gangster for that. 1774 01:30:08,613 --> 01:30:10,323 I don't plan on selling any time soon. 1775 01:30:10,323 --> 01:30:12,033 - Hold it. - Say that shit. 1776 01:30:12,033 --> 01:30:13,076 Diamond fucking hands. 1777 01:30:13,076 --> 01:30:14,077 Diamond hands, baby. 1778 01:30:15,203 --> 01:30:16,746 Attaboy. 1779 01:30:16,746 --> 01:30:18,122 What a nerd. 1780 01:30:18,748 --> 01:30:19,582 Thank you. 1781 01:30:27,340 --> 01:30:29,759 It was good. I think. 1782 01:30:30,927 --> 01:30:33,805 Yesterday's Reddit hearing in Congress brought together 1783 01:30:33,805 --> 01:30:36,182 some of the power players behind the January trading frenzy. 1784 01:30:36,182 --> 01:30:39,435 Representative Maxine Waters did say there will be additional hearings... 1785 01:30:39,435 --> 01:30:42,647 What you got here involves people named DFV and Roaring Kitty, ultimately... 1786 01:30:42,647 --> 01:30:45,692 ...two more to follow to find more answers, one market expert... 1787 01:30:45,692 --> 01:30:47,485 Whether it's markets or social media, 1788 01:30:47,485 --> 01:30:49,278 I'll just call it media because it is now. 1789 01:30:49,278 --> 01:30:51,197 Do you think any new regulation gets done? 1790 01:30:51,197 --> 01:30:53,366 What's clear is that we're in the Wild West 1791 01:30:53,366 --> 01:30:56,536 and that there is so much activity that's going on, on these online forums. 1792 01:30:56,536 --> 01:30:59,831 And we've seen in the last month and the last six weeks how much force 1793 01:30:59,831 --> 01:31:03,459 day traders en masse can bring to the market and actually affect it. 1794 01:31:03,459 --> 01:31:05,503 They used to just make some noise around the edges. 1795 01:31:05,503 --> 01:31:08,297 Now they can actually move markets, move securities. 1796 01:31:39,787 --> 01:31:40,913 Cheers, everyone. 1797 01:31:47,962 --> 01:31:48,880 Ah. 1798 01:31:57,430 --> 01:31:58,973 You're a fucking gangster. 1799 01:32:18,618 --> 01:32:21,120 Hey, man, I notice you've been selling a lot of new games, 1800 01:32:21,120 --> 01:32:24,415 and I just wanted to remind you, again, that we really wanna be pushing customers 1801 01:32:24,415 --> 01:32:27,001 towards the higher-margin pre-owned games. 1802 01:32:28,044 --> 01:32:30,004 Yeah, I'm not gonna do that. 1803 01:32:30,004 --> 01:32:30,922 Excuse me? 1804 01:32:30,922 --> 01:32:33,633 Oh, and in fact, I'm not gonna do any of the Circle of Life bullshit. 1805 01:32:33,633 --> 01:32:35,092 Or your TikTok dance contest. 1806 01:32:35,092 --> 01:32:36,177 You're quitting, then. 1807 01:32:38,137 --> 01:32:39,138 Okay. 1808 01:32:39,138 --> 01:32:40,973 No, I mean, I thought about it, but... 1809 01:32:41,974 --> 01:32:43,768 Like, yo, I love it here. 1810 01:32:43,768 --> 01:32:45,520 So I think I'm gonna stay. 1811 01:32:45,520 --> 01:32:49,065 Well, you're awfully smug for a kid who lost all his money buying stock. 1812 01:32:49,565 --> 01:32:51,984 What did you say it was going to? A thousand? 1813 01:32:53,236 --> 01:32:55,738 I'm also not gonna work at the ass crack of dawn any more. 1814 01:32:56,864 --> 01:32:57,740 You're fired. 1815 01:32:59,659 --> 01:33:00,910 No, I'm not. 1816 01:33:00,910 --> 01:33:03,704 You gotta get that approved by like seven levels of people, yo. 1817 01:33:04,205 --> 01:33:06,749 Thanks to the geniuses who put that together. 1818 01:33:06,749 --> 01:33:08,793 The ones who used to own my ass. 1819 01:33:09,293 --> 01:33:10,294 You sold? 1820 01:33:11,587 --> 01:33:12,421 Half. 1821 01:33:13,756 --> 01:33:15,716 Right at the tippy tippy top. 1822 01:33:15,716 --> 01:33:18,553 And I'm holding the other half for the long haul. 1823 01:33:18,553 --> 01:33:20,388 ♪ 'Cause I'm a savage ♪ 1824 01:33:20,888 --> 01:33:23,474 ♪ Classy, bougie, ratchet ♪ 1825 01:33:24,016 --> 01:33:26,853 ♪ Sassy, moody, nasty ♪ 1826 01:33:26,853 --> 01:33:29,188 ♪ Acting stupid what was happening ♪ 1827 01:33:30,523 --> 01:33:34,193 ♪ Classy, bougie, ratchet ♪ 1828 01:33:34,193 --> 01:33:37,113 ♪ Sassy, moody, nasty ♪ 1829 01:33:37,113 --> 01:33:39,156 ♪ Acting stupid, what's happening? ♪ 1830 01:33:39,156 --> 01:33:40,658 ♪ Bitch, what's happening? ♪ 1831 01:33:40,658 --> 01:33:42,618 ♪ Bitch, I'm a savage, yeah ♪ 1832 01:33:42,618 --> 01:33:45,288 ♪ Classy, bougie, ratchet, yeah ♪ 1833 01:33:45,288 --> 01:33:48,124 ♪ Sassy, moody, nasty ♪ 1834 01:33:48,124 --> 01:33:50,751 ♪ Acting stupid, what's happening? ♪ 1835 01:33:50,751 --> 01:33:52,670 ♪ Bitch, what's happening? ♪ 1836 01:33:52,670 --> 01:33:55,464 ♪ Eat me and record it But your edge-up all I'm showing ♪ 1837 01:33:55,464 --> 01:33:58,342 ♪ I keep my niggas private So his AP all I'm showing ♪ 1838 01:33:58,342 --> 01:34:00,928 ♪ Beefing with you bitches Really getting kinda boring ♪ 1839 01:34:00,928 --> 01:34:03,681 ♪ If it ain't about the money Then you know I'm gon' ignore it ♪ 1840 01:34:03,681 --> 01:34:04,599 ♪ I'm the shit, ooh ♪ 1841 01:34:04,599 --> 01:34:07,768 ♪ I need a mop to clean the floor It's too much drip, ooh ♪ 1842 01:34:07,768 --> 01:34:09,896 ♪ I keep a knot, I keep a watch I keep a whip... ♪ 1843 01:34:09,896 --> 01:34:11,230 Fuck yeah! 1844 01:34:11,772 --> 01:34:14,525 I'm here testifying today far removed from my background. 1845 01:34:14,525 --> 01:34:16,819 I grew up in a middle-class family in Portland, Maine. 1846 01:34:16,819 --> 01:34:18,487 I went to a public high school. 1847 01:34:18,487 --> 01:34:20,907 I studied hard and got into a good college. 1848 01:34:20,907 --> 01:34:23,451 Upon graduation, I did not have a job. 1849 01:34:23,451 --> 01:34:26,537 ♪ Bitch, what's happening? ♪ 1850 01:34:26,537 --> 01:34:32,501 When the statement you refer to was made, uh, I believe 2015 or 2016, 1851 01:34:32,501 --> 01:34:35,588 it was before Robinhood forced the entire industry 1852 01:34:35,588 --> 01:34:38,341 - to drop commissions and replicate our... - I should take that as a no. 1853 01:34:38,341 --> 01:34:41,260 You're not willing to pass on the proceeds of payment for order flow 1854 01:34:41,260 --> 01:34:42,470 to your customers? 1855 01:34:42,470 --> 01:34:44,722 ♪ That body right But you know this pussy fat, ooh ♪ 1856 01:34:44,722 --> 01:34:47,141 ♪ I drop a picture Now these bitches feel attacked ♪ 1857 01:34:47,141 --> 01:34:49,977 ♪ Don't let that nigga gas you up And get you whacked, ooh ♪ 1858 01:34:49,977 --> 01:34:51,979 ♪ I make a call and get a pussy nigga smacked... ♪ 1859 01:34:51,979 --> 01:34:56,859 But did you talk to them about restricting or doing anything to prevent people 1860 01:34:56,859 --> 01:35:00,279 from buying, not selling but buying, in GameStop? 1861 01:35:00,279 --> 01:35:02,406 Let me be perfectly clear. 1862 01:35:03,157 --> 01:35:05,451 Absolutely not. 1863 01:35:30,267 --> 01:35:32,311 As for me, I like the stock. 1864 01:35:32,311 --> 01:35:33,396 ♪ Mwah ♪ 1865 01:35:35,147 --> 01:35:36,607 Hurry up, dick, it's cold. 1866 01:35:37,483 --> 01:35:39,068 I can't believe you're my brother. 1867 01:35:39,068 --> 01:35:40,611 You look like a fucking Ninja Turtle. 1868 01:35:40,611 --> 01:35:42,279 - Ready? - Yup. 1869 01:35:43,114 --> 01:35:44,532 - Set... What? - Fuck you! 1870 01:35:44,532 --> 01:35:45,449 Kevin! 1871 01:35:47,743 --> 01:35:48,786 C'mon, Kitty! 1872 01:35:59,380 --> 01:36:01,507 ♪ I'm gonna fight 'em off ♪ 1873 01:36:02,842 --> 01:36:06,679 ♪ A seven nation army Couldn't hold me back ♪ 1874 01:36:07,221 --> 01:36:09,223 ♪ They're gonna rip it off ♪ 1875 01:36:10,766 --> 01:36:14,478 ♪ Takin' their time right behind my back ♪ 1876 01:36:14,478 --> 01:36:20,276 ♪ And the message comin' from my eyes Says, "Leave it alone" ♪ 1877 01:36:54,477 --> 01:36:56,687 ♪ Don't want to hear about it ♪ 1878 01:36:58,314 --> 01:37:01,776 ♪ Every single one's got a story to tell ♪ 1879 01:37:02,443 --> 01:37:04,403 ♪ Everyone knows about it ♪ 1880 01:37:05,988 --> 01:37:09,492 ♪ From the Queen of England To the Hounds of Hell ♪ 1881 01:37:10,159 --> 01:37:15,247 ♪ And if I catch it comin' back my way I'm gonna serve it to you ♪ 1882 01:37:18,292 --> 01:37:23,005 ♪ And that ain't what you want to hear But that's what I'll do ♪ 1883 01:37:25,841 --> 01:37:31,180 ♪ And the feelin' comin' from my bones Says, "Find a home" ♪ 1884 01:38:21,188 --> 01:38:23,190 ♪ I'm goin' to Wichita ♪ 1885 01:38:24,817 --> 01:38:28,195 ♪ Far from this opera forevermore ♪ 1886 01:38:28,946 --> 01:38:30,990 ♪ I'm gonna work the straw ♪ 1887 01:38:32,491 --> 01:38:36,162 ♪ Make the sweat drip out of every pore ♪ 1888 01:38:36,912 --> 01:38:42,084 ♪ And I'm bleedin' and I'm bleedin' And I'm bleedin' right before the Lord ♪ 1889 01:38:44,753 --> 01:38:49,800 ♪ All the words are gonna bleed from me And I will think no more ♪ 1890 01:38:52,511 --> 01:38:57,474 ♪ And the stains comin' from my blood Tell me, "Go back home" ♪ 1891 01:39:19,872 --> 01:39:22,499 ♪ You make me wanna You make me wanna ♪ 1892 01:39:23,542 --> 01:39:24,752 ♪ You make me wanna ♪ 1893 01:39:27,379 --> 01:39:30,174 ♪ You make me wanna You make me wanna ♪ 1894 01:39:31,008 --> 01:39:32,468 ♪ You make me wanna ♪ 1895 01:39:35,012 --> 01:39:37,932 ♪ You make me wanna You make me wanna ♪ 1896 01:39:38,599 --> 01:39:40,100 ♪ You make me wanna ♪ 1897 01:39:56,242 --> 01:39:57,451 ♪ You make me wanna ♪ 1898 01:40:03,207 --> 01:40:04,667 ♪ You make me wanna ♪ 1899 01:40:05,709 --> 01:40:08,629 ♪ You make me wanna You make me wanna ♪ 1900 01:40:09,296 --> 01:40:10,756 ♪ You make me wanna ♪ 1901 01:40:13,092 --> 01:40:16,512 ♪ You make me wanna You make me wanna ♪ 1902 01:40:17,304 --> 01:40:18,555 ♪ You make me wanna ♪ 1903 01:40:36,573 --> 01:40:39,493 ♪ You make me wanna You make me wanna ♪ 1904 01:40:40,452 --> 01:40:41,537 ♪ You make me wanna ♪ 1905 01:40:44,081 --> 01:40:47,251 ♪ You make me wanna You make me wanna ♪ 1906 01:40:47,876 --> 01:40:49,169 ♪ You make me wanna ♪ 1907 01:40:51,088 --> 01:40:54,842 ♪ You make me wanna You make me wanna ♪ 1908 01:40:55,676 --> 01:40:57,052 ♪ You make me wanna ♪ 1909 01:41:10,566 --> 01:41:12,192 ♪ You make me wanna ♪ 1910 01:41:18,532 --> 01:41:19,658 ♪ You make me wanna ♪ 1911 01:41:20,743 --> 01:41:23,704 ♪ You make me wanna You make me wanna ♪ 1912 01:41:24,496 --> 01:41:25,748 ♪ You make me wanna ♪ 1913 01:41:27,916 --> 01:41:31,378 ♪ You make me wanna You make me wanna ♪ 1914 01:41:32,212 --> 01:41:33,339 ♪ You make me wanna ♪ 154917

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