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Would you like to inspect the original subtitles? These are the user uploaded subtitles that are being translated: 1 00:01:12,323 --> 00:01:14,741 So, I'm here. 2 00:01:14,742 --> 00:01:18,911 - And, I do not see anything happening. - Right. 3 00:01:18,912 --> 00:01:20,747 - Right. - At all. 4 00:01:20,748 --> 00:01:21,831 Look, I'm very sorry, sir. 5 00:01:21,832 --> 00:01:25,043 Guess what I'm trying to understand is, what is the reason for this delay exactly? 6 00:01:25,044 --> 00:01:27,253 - Yeah. Mr. Plotkin, I'm so sorry. - Specifically. 7 00:01:27,254 --> 00:01:30,757 - But it's just that when we set out... - Yeah, we closed in November. 8 00:01:30,758 --> 00:01:33,092 We had all the permit applications in before the end of the year. 9 00:01:33,093 --> 00:01:34,844 Right. Once we get the final stamp of approval. 10 00:01:34,845 --> 00:01:36,387 And we can't get the trucks here a little early? 11 00:01:36,388 --> 00:01:38,264 - Just, you know, get 'em started. - Miami Beach ordinances... 12 00:01:38,265 --> 00:01:39,682 - won't let me do that. - Is anyone actually... 13 00:01:39,683 --> 00:01:41,768 - enforcing those regulations? - Look, Mr. Plotkin, 14 00:01:41,769 --> 00:01:43,394 I know that you're eager to move in. Okay. 15 00:01:43,395 --> 00:01:45,104 - Once we get the final stamp of approval. - No. 16 00:01:45,105 --> 00:01:46,564 - You're gonna be the first... - One second. 17 00:01:46,565 --> 00:01:47,691 Sure. 18 00:01:48,192 --> 00:01:49,275 Hello? 19 00:01:50,861 --> 00:01:54,113 You see what's going on at GME? 20 00:01:54,114 --> 00:01:55,740 There's more of these idiots? 21 00:01:55,741 --> 00:01:58,701 The short sellers, now they're getting creamed by the little guy... 22 00:01:58,702 --> 00:01:59,869 A lot more. 23 00:01:59,870 --> 00:02:01,412 They won't hold much longer. 24 00:02:01,413 --> 00:02:02,539 Go away. 25 00:02:03,415 --> 00:02:05,667 Oh Gabe, honey, they're holding. 26 00:02:06,668 --> 00:02:08,836 It just crossed a hundred. 27 00:02:08,837 --> 00:02:11,172 Gabe, where are you? 28 00:02:11,173 --> 00:02:12,340 Fuck! 29 00:02:12,341 --> 00:02:14,133 You should probably dial in. 30 00:02:14,134 --> 00:02:15,426 Yeah, be on in one sec. 31 00:02:17,096 --> 00:02:19,680 ♪ There's some whores in this house ♪ 32 00:02:19,681 --> 00:02:22,100 - ♪ I said, certified freak ♪ - ♪ Hold up! ♪ 33 00:02:22,101 --> 00:02:24,018 ♪ Seven days a week ♪ 34 00:02:24,019 --> 00:02:27,355 ♪ Wet-ass pussy Make that pull-out game weak ♪ 35 00:02:27,356 --> 00:02:30,108 - ♪ Whoo! Yeah, yeah ♪ - ♪ There's some whores in this house ♪ 36 00:02:30,109 --> 00:02:32,485 ♪ Yeah, you fucking With some wet-ass pussy... ♪ 37 00:02:32,486 --> 00:02:35,571 I will tell you I've never seen anything like it. I'm concerned about it. 38 00:02:35,572 --> 00:02:37,532 I'm calling it the ultimate short squeeze. 39 00:02:37,533 --> 00:02:39,826 You can lose money to infinity. 40 00:02:39,827 --> 00:02:43,371 It's very different, more highly leveraged game on the other side. 41 00:02:43,372 --> 00:02:44,664 ♪ Put this pussy... ♪ 42 00:02:44,665 --> 00:02:45,957 Holy fucking shit. 43 00:02:45,958 --> 00:02:47,041 ♪ Like a credit card... ♪ 44 00:02:47,042 --> 00:02:49,877 Right now we're gonna talk about GameStop. Those shares... 45 00:02:49,878 --> 00:02:53,089 - are nonstop earning of about 130% today. - Holy fucking shit! 46 00:02:53,090 --> 00:02:54,799 - Holy shit! - What the... 47 00:02:54,800 --> 00:02:56,050 fuck! 48 00:02:56,051 --> 00:02:57,802 ♪ Let's role play, I'll wear a disguise ♪ 49 00:02:57,803 --> 00:03:00,555 ♪ I want you to park that big Mack truck Right in this little garage ♪ 50 00:03:00,556 --> 00:03:01,722 Holy shit. 51 00:03:01,723 --> 00:03:03,474 - Yes. Hello? - Great news, Mr. Plotkin. 52 00:03:03,475 --> 00:03:05,518 I think we'll be able to get you into your new home 53 00:03:05,519 --> 00:03:06,894 a little sooner than I actually thought. 54 00:03:06,895 --> 00:03:09,105 I think we're having some sort of miscommunication here. 55 00:03:09,106 --> 00:03:10,731 Because I'm not trying to move into that house. 56 00:03:10,732 --> 00:03:13,443 I'm trying to tear that house down so I can build a tennis court 57 00:03:13,444 --> 00:03:15,445 for me and my family to play during the pandemic. 58 00:03:15,446 --> 00:03:16,946 - I see. - I thought it would be very simple. 59 00:03:16,947 --> 00:03:18,906 Apparently, it isn't because the pandemic is almost over 60 00:03:18,907 --> 00:03:20,533 - and there's no tennis court. - Okay, Mr. Plotkin. 61 00:03:20,534 --> 00:03:21,951 Thank you for your time. 62 00:03:21,952 --> 00:03:23,703 Yes, what? Hello? 63 00:03:23,704 --> 00:03:26,540 Hi, it's Ken Griffin. 64 00:03:32,087 --> 00:03:34,089 Hi there, Ken, how are you? Great to hear from you. 65 00:03:35,591 --> 00:03:36,674 Do you have a minute? 66 00:03:38,635 --> 00:03:39,803 I, uh... 67 00:03:40,471 --> 00:03:41,305 Um... 68 00:03:41,306 --> 00:03:43,891 I gotta call you right back. If that's okay. I'm so sorry. 69 00:03:45,100 --> 00:03:46,435 - Sure. - Okay, great. 70 00:03:47,978 --> 00:03:49,562 Hi. What's happening right now? 71 00:03:49,563 --> 00:03:52,064 It looks like there's one guy driving all the buying. 72 00:03:52,065 --> 00:03:53,399 What... what... what guy? 73 00:03:54,485 --> 00:03:56,861 I believe his name is "Roaring Kitty." 74 00:03:56,862 --> 00:03:58,404 ♪ There's some whores in this house ♪ 75 00:03:58,405 --> 00:04:00,823 ♪ Yeah, you fucking With some wet-ass pussy... ♪ 76 00:04:00,824 --> 00:04:02,158 Oh, wait, or... 77 00:04:02,159 --> 00:04:03,951 ♪ This wet-ass pussy... ♪ 78 00:04:03,952 --> 00:04:05,870 "Deep Fucking Value." 79 00:04:05,871 --> 00:04:08,499 "Roaring Kitty" or "Deep Fucking Value." What? 80 00:04:09,458 --> 00:04:12,585 He's "Roaring Kitty" on YouTube and "Deep Fucking Value" on Reddit. 81 00:04:12,586 --> 00:04:15,129 Both? He couldn't pick one name? 82 00:04:15,130 --> 00:04:16,881 I don't know. I love this guy. 83 00:04:16,882 --> 00:04:18,633 ♪ That's some wet-ass pussy ♪ 84 00:04:18,634 --> 00:04:20,468 ♪ Macaroni in a pot ♪ 85 00:04:20,469 --> 00:04:22,094 ♪ That's some wet-ass pussy 86 00:04:22,095 --> 00:04:24,055 - ♪ Ha ♪ - ♪ There's some whores in this house... ♪ 87 00:04:24,056 --> 00:04:25,431 Who is this schmuck? 88 00:04:25,432 --> 00:04:27,308 I don't know, but I think I just came. 89 00:05:33,000 --> 00:05:35,293 - Uh, Ruby... Ruby, right? - Yeah. 90 00:05:35,294 --> 00:05:38,171 - Can I get a couple of Heinies, please? - Uh, one. Sorry, uh... 91 00:05:38,755 --> 00:05:41,007 - I'm gonna have a... - What? What's wrong with a Heinie? 92 00:05:41,008 --> 00:05:42,508 Drinking it since we were 17! 93 00:05:42,509 --> 00:05:44,594 Hey, drink what you like. No judgment. 94 00:05:44,595 --> 00:05:46,262 Uh, you have a Hamm's? 95 00:05:46,263 --> 00:05:48,848 - I'll have one of those. - The fuck did you just order? 96 00:05:48,849 --> 00:05:51,726 Oh, it's a nice one outta Milwaukee. Good quality. 97 00:05:51,727 --> 00:05:54,604 - Fifty cents a can before markup. - C'mon, Kitty. Forget about price. 98 00:05:54,605 --> 00:05:55,896 Get him a Heineken, thank you. 99 00:05:55,897 --> 00:05:57,356 - It's on me. - Thanks, man. 100 00:05:57,357 --> 00:06:00,067 Thank you, that's nice. I'll have a Hamm's. 101 00:06:00,068 --> 00:06:01,694 So a Heineken and a Hamm's? 102 00:06:01,695 --> 00:06:02,820 Thank you. 103 00:06:02,821 --> 00:06:04,030 Please. 104 00:06:04,031 --> 00:06:05,364 Thank you, Ruby. 105 00:06:10,996 --> 00:06:11,996 How you been, man? 106 00:06:11,997 --> 00:06:14,123 The whole Sara thing. 107 00:06:14,124 --> 00:06:17,335 Oh, yeah. Okay, uh... 108 00:06:17,336 --> 00:06:18,795 Up and down. 109 00:06:19,379 --> 00:06:20,505 Yeah. 110 00:06:22,215 --> 00:06:23,799 - How's your asshole brother? - Still an asshole. 111 00:06:23,800 --> 00:06:25,594 - Okay. - Yeah. 112 00:06:26,178 --> 00:06:27,803 - Keeping busy at least? - Uh... 113 00:06:27,804 --> 00:06:30,931 Got the day job at MassMutual. Working on my portfolio. 114 00:06:30,932 --> 00:06:33,352 That's the last thing you should be worrying about right now. 115 00:06:33,852 --> 00:06:35,811 Why? It's a... It's a good distraction. 116 00:06:35,812 --> 00:06:37,146 Lemme take that over for you. 117 00:06:37,147 --> 00:06:38,731 We got thousands of analysts at B of A 118 00:06:38,732 --> 00:06:41,192 - that do just this. C'mon, Kitty. - All good, man. Thank you. 119 00:06:41,193 --> 00:06:42,735 You should be focused on your family right now. 120 00:06:42,736 --> 00:06:44,236 Not fucking around with penny stocks. 121 00:06:44,237 --> 00:06:46,947 They're not all penny stocks. GameStop isn't a penny stock. 122 00:06:46,948 --> 00:06:48,449 GameStop? 123 00:06:48,450 --> 00:06:49,909 - Dude... - You used to love GameStop! 124 00:06:49,910 --> 00:06:53,080 - Yeah, then I grew up. - Well, I think it's undervalued. 125 00:06:53,664 --> 00:06:55,665 I just sold off a bunch of other shit to double down. 126 00:06:55,666 --> 00:06:57,625 How much are we talking? A grand? 127 00:06:57,626 --> 00:06:58,751 - Fifty. - Bucks? 128 00:06:58,752 --> 00:06:59,877 Grand. 129 00:06:59,878 --> 00:07:01,003 53 grand. 130 00:07:01,004 --> 00:07:02,964 Yeah. 131 00:07:07,594 --> 00:07:08,594 Kitty... 132 00:07:10,389 --> 00:07:12,598 - Man, you don't even own a house. - It's got a ton of short interest, 133 00:07:12,599 --> 00:07:14,433 - You got a one-year-old. - Which is artificially pushing... 134 00:07:14,434 --> 00:07:15,851 - Jesus, bro. - The price down. 135 00:07:15,852 --> 00:07:18,312 - You never bet against Wall Street! - Wall Street gets it wrong all the time. 136 00:07:18,313 --> 00:07:19,855 - Look at '08. - That was a one-off, Kitty. 137 00:07:19,856 --> 00:07:21,315 These guys, they have all the money 138 00:07:21,316 --> 00:07:23,442 and the fancy degrees and the political juice in the world, 139 00:07:23,443 --> 00:07:25,653 - and they get it wrong all the time. - Are you out of your fucking mind? 140 00:07:25,654 --> 00:07:28,448 They've got the advantage, and they still get it wrong. 141 00:07:30,075 --> 00:07:32,618 No, gimme that, I'm drinking it. Even if it's 50 cents. 142 00:07:32,619 --> 00:07:33,703 It's 4 bucks. 143 00:07:33,704 --> 00:07:35,788 Well, my man just spent 53K on a penny stock. 144 00:07:35,789 --> 00:07:37,665 So, all he can afford is water. 145 00:07:37,666 --> 00:07:40,167 - You're a Wall Street guy? - Very much no. 146 00:07:40,168 --> 00:07:41,711 I'm a Wall Street guy. 147 00:07:41,712 --> 00:07:43,213 What was the stock? 148 00:07:44,464 --> 00:07:45,549 GameStop. 149 00:07:46,925 --> 00:07:48,259 The video game store. At the mall. 150 00:07:48,260 --> 00:07:51,846 - You really bought $53,000 of it? - Yeah, I don't believe it. 151 00:07:51,847 --> 00:07:54,014 I think he's fucking with us. You're fucking with us, right? 152 00:07:54,015 --> 00:07:55,725 You don't even have 50 grand. 153 00:07:55,726 --> 00:07:56,893 Let's see. 154 00:07:59,312 --> 00:08:00,439 Oh, shit. 155 00:08:02,524 --> 00:08:04,442 How is she falling for this? How are you falling for this? 156 00:08:04,443 --> 00:08:06,819 He won't spend 5 bucks for a beer, 157 00:08:06,820 --> 00:08:10,239 but he'll put 50k in a stock that you think is a joke. 158 00:08:10,240 --> 00:08:11,825 And that's interesting to you? 159 00:08:12,701 --> 00:08:13,785 Yeah. 160 00:08:14,995 --> 00:08:16,121 It is. 161 00:08:22,085 --> 00:08:23,669 Drink your shitty beer. 162 00:08:33,054 --> 00:08:34,096 Hey! 163 00:08:34,097 --> 00:08:35,223 Hey! 164 00:08:37,642 --> 00:08:39,185 Bedtime's already done? 165 00:08:39,186 --> 00:08:42,564 Yeah, she was exhausted. She skipped her nap. 166 00:08:44,357 --> 00:08:45,900 - How was Briggsy? - Uh... 167 00:08:45,901 --> 00:08:47,360 Good. Yeah. 168 00:08:55,660 --> 00:08:57,412 You guys talk about Sara? 169 00:08:59,331 --> 00:09:00,331 Uh... 170 00:09:03,835 --> 00:09:05,503 Do you wanna sit down a minute? 171 00:09:05,504 --> 00:09:07,671 I'll feel better if I finish these first. 172 00:09:08,633 --> 00:09:10,884 No, you won't. 173 00:09:36,284 --> 00:09:37,284 Do you think I'm insane? 174 00:09:37,285 --> 00:09:38,620 Yeah. 175 00:09:39,913 --> 00:09:41,540 Sorry. About what? 176 00:09:42,707 --> 00:09:43,833 GameStop. 177 00:09:43,834 --> 00:09:46,586 The most compelling asymmetric opportunity in the market? 178 00:09:48,713 --> 00:09:51,006 - What, did Briggsy make you jumpy? - A little. 179 00:09:51,007 --> 00:09:53,133 - What was his argument? - He didn't have one. 180 00:09:53,134 --> 00:09:55,719 - Well. - He just said it was a reckless bet. 181 00:09:55,720 --> 00:09:58,097 He said "you're putting your money in the next Blockbuster." 182 00:09:58,098 --> 00:09:59,015 Enough. Fuck Briggsy. 183 00:09:59,016 --> 00:10:02,394 Babe, you literally know more about this damn company than you know about me. 184 00:10:02,853 --> 00:10:03,770 It's true. 185 00:10:03,771 --> 00:10:06,772 And because of you, I know more about this company than I know about myself. 186 00:10:06,773 --> 00:10:10,569 But what if I'm missing something? We can't afford to miss something. 187 00:10:11,903 --> 00:10:13,655 It's all our savings. 188 00:10:14,364 --> 00:10:15,532 Go do a video. 189 00:10:16,825 --> 00:10:18,659 I can finish these first. I'm happy to... 190 00:10:18,660 --> 00:10:20,786 Go see what the nerds have to say. 191 00:10:20,787 --> 00:10:23,455 Our Wall Street Bets people aren't nerds, Caroline. 192 00:10:23,456 --> 00:10:25,958 They're gangsters. You make a dumb case and post it, 193 00:10:25,959 --> 00:10:28,378 - they'll rip you apart. - Well, then don't make a dumb case. 194 00:10:47,522 --> 00:10:49,024 Okay, let's see what's new. 195 00:10:51,985 --> 00:10:54,029 Oh, there's a share. Okay, here we go. 196 00:10:56,948 --> 00:10:58,241 Oh shit. 197 00:11:21,598 --> 00:11:23,058 All right... 198 00:11:23,850 --> 00:11:26,436 Just check on... See here. 199 00:11:36,738 --> 00:11:39,490 Yo, what up, everybody? Roaring Kitty here. 200 00:11:39,491 --> 00:11:42,618 Uh, I've done a few of these now, mostly on my investing methodology. 201 00:11:42,619 --> 00:11:45,454 Uh, but today I'm gonna try something a little different. 202 00:11:45,455 --> 00:11:48,874 I appreciate the feedback you guys have been leaving me by the way. 203 00:11:48,875 --> 00:11:52,544 Uh... Oh! More feedback comin' in hot. 204 00:11:52,545 --> 00:11:56,340 "Less cats." Okay. Great. 205 00:11:56,341 --> 00:11:59,969 Ah, like I was saying... Uh, what was I saying? 206 00:11:59,970 --> 00:12:00,929 Ah, I'm gonna try... 207 00:12:00,930 --> 00:12:03,138 Oh, and here's one from Ballz. 208 00:12:03,139 --> 00:12:04,640 "Nerd." 209 00:12:04,641 --> 00:12:06,642 And nerd is in all capitals. 210 00:12:06,643 --> 00:12:10,688 Like, okay, that's kinda mean. But okay, fair. 211 00:12:10,689 --> 00:12:11,772 Uh... 212 00:12:11,773 --> 00:12:13,774 "Nice shirt, Grandpa"? 213 00:12:13,775 --> 00:12:17,069 What? How old do you think I am? 214 00:12:17,070 --> 00:12:18,029 You know what? 215 00:12:18,030 --> 00:12:21,156 Thanks for the comments. We're gonna come back to them at the end. 216 00:12:21,157 --> 00:12:22,450 Here's what I wanna talk about. 217 00:12:23,326 --> 00:12:26,578 Uh, I'm gonna pick a stock and talk about why I think it's interesting. 218 00:12:26,579 --> 00:12:28,540 And that stock is... 219 00:12:29,958 --> 00:12:31,960 GameStop. Uh... 220 00:12:32,752 --> 00:12:34,128 I know it's a polarizing stock 221 00:12:34,129 --> 00:12:36,630 and some of you probably gonna tune out of the stream right now 222 00:12:36,631 --> 00:12:39,133 when you hear I'm bullish on GameStop. But I am. 223 00:12:39,134 --> 00:12:43,220 You can see it is now the biggest position by far in the Roaring Kitty portfolio. 224 00:12:43,221 --> 00:12:44,139 So... 225 00:12:44,140 --> 00:12:47,182 yeah, I think everyone else is crazy, and I think I'm right. 226 00:12:47,183 --> 00:12:51,729 But I've been wrong plenty of times in the past. So, uh... 227 00:12:51,730 --> 00:12:55,274 So there are a lot of aspects to this bold thesis, a lot of moving parts, 228 00:12:55,275 --> 00:12:57,776 but I boil it down to what I consider the three overs: 229 00:12:57,777 --> 00:13:00,112 The digital risks seem to me to be overblown, 230 00:13:00,113 --> 00:13:01,572 the negative sentiment is overdone, 231 00:13:01,573 --> 00:13:03,323 you can see it with the huge short interest, 232 00:13:03,324 --> 00:13:05,242 and the value is overlooked. 233 00:13:05,243 --> 00:13:07,412 Wall Street just doesn't see it. 234 00:13:08,038 --> 00:13:09,204 Why? 235 00:13:09,205 --> 00:13:12,459 Mr. Market, why? 236 00:13:13,209 --> 00:13:15,961 The hedge funds are overlooking the value in the company 237 00:13:15,962 --> 00:13:18,672 just like they overlook the people who shop there. 238 00:13:18,673 --> 00:13:21,383 They assume most people download games online now. 239 00:13:21,384 --> 00:13:25,721 But look, 25% of gamers still buy new discs from GameStop, 240 00:13:25,722 --> 00:13:28,766 and 40% buy used games from the store. 241 00:13:28,767 --> 00:13:30,726 And the market's kinda forced my hand here. 242 00:13:30,727 --> 00:13:33,687 What more can I say? I just like the stock. 243 00:13:33,688 --> 00:13:34,773 Hey! 244 00:13:35,482 --> 00:13:36,900 Shit! 245 00:13:37,942 --> 00:13:39,610 - Did I wake you? - Please stop. 246 00:13:39,611 --> 00:13:42,488 Mr. Donaldson, I need you in your bed. 247 00:13:42,489 --> 00:13:44,490 Kerin, can you please make sure Mr. Donaldson... 248 00:13:44,491 --> 00:13:46,950 I don't need to go to bed. I need a cup of coffee. 249 00:13:46,951 --> 00:13:49,828 We can get you a cup of coffee. Kerin, coffee. 250 00:13:49,829 --> 00:13:50,997 Oh! 251 00:13:51,623 --> 00:13:52,791 Well, isn't that beautiful? 252 00:13:53,374 --> 00:13:54,500 Oh shit. 253 00:13:55,835 --> 00:14:00,714 "100% short GameStop stock"? 254 00:14:00,715 --> 00:14:02,091 It's an investment video. 255 00:14:02,092 --> 00:14:04,676 Hey, Jenny, for real, 256 00:14:04,677 --> 00:14:07,513 I wouldn't take investment advice from a guy in a cat shirt. 257 00:14:07,514 --> 00:14:10,140 Oh, okay. Who do you take investment advice from? 258 00:14:10,141 --> 00:14:16,814 I don't have investments. And if I did, I'd listen to, like, a banker. 259 00:14:16,815 --> 00:14:18,315 Just the way they like it. 260 00:14:18,316 --> 00:14:22,277 "They." Oh boy. Here we go... 261 00:14:22,278 --> 00:14:23,445 Just never mind. 262 00:14:23,446 --> 00:14:24,905 No, no, no, please tell me. 263 00:14:24,906 --> 00:14:28,117 I'm dying to know what Luke Wilson from The Royal Tenenbaums 264 00:14:28,118 --> 00:14:30,744 thinks we should do with our $68,000 a year. 265 00:14:30,745 --> 00:14:31,870 Who from what? 266 00:14:31,871 --> 00:14:32,955 Ugly Björn Borg. 267 00:14:32,956 --> 00:14:34,123 Okay, fine. 268 00:14:34,124 --> 00:14:37,042 Wall Street is betting that this company is gonna fail. 269 00:14:37,043 --> 00:14:38,627 It's called shorting. 270 00:14:38,628 --> 00:14:42,214 And if it fails, well, then everybody loses their job, 271 00:14:42,215 --> 00:14:44,884 but these hedge fund assholes make a shit ton of money. 272 00:14:45,468 --> 00:14:49,221 It's bullshit. It's a bullshit way for rich people to get richer. 273 00:14:49,222 --> 00:14:50,889 How did you even find this guy? 274 00:14:50,890 --> 00:14:53,517 70,000 people have watched this video. 275 00:14:53,518 --> 00:14:55,936 He posts his balance sheets and everything. 276 00:14:55,937 --> 00:14:57,771 Wall Street Bets is going crazy over this. 277 00:14:57,772 --> 00:14:59,898 - Who? - It's an Internet forum. 278 00:14:59,899 --> 00:15:00,984 Uh-huh. 279 00:15:01,776 --> 00:15:03,026 - On Reddit. - Now, see. No, no. 280 00:15:03,027 --> 00:15:05,404 I'm not gonna do this with you. The last time you brought up Reddit, 281 00:15:05,405 --> 00:15:08,157 it was just all these oil paintings of Donald Trump on horseback. 282 00:15:08,158 --> 00:15:09,950 - You liked it. - Detestable. 283 00:15:09,951 --> 00:15:12,619 - Look. - Okay, yeah. Let's take a look. 284 00:15:12,620 --> 00:15:14,204 Um... 285 00:15:14,205 --> 00:15:16,665 "Shit's not a pump-and-dump 286 00:15:16,666 --> 00:15:20,043 if it never dumps, you fuckheads..." 287 00:15:20,044 --> 00:15:24,173 "Feed me your tears, I use it as anal lube on your wives." 288 00:15:24,174 --> 00:15:25,299 Why did you go to that one? 289 00:15:25,300 --> 00:15:28,844 Oh! Oh! Oh! "Strap on ur theta dildo" 290 00:15:28,845 --> 00:15:32,973 - "n start pounding." - Okay. Yes, that shit exists on here. 291 00:15:32,974 --> 00:15:36,768 But I also learned the difference between a delta squeeze and a gamma squeeze. 292 00:15:36,769 --> 00:15:38,770 And now everyone is talking about call options. 293 00:15:38,771 --> 00:15:42,316 Jenny, baby, you're never gonna find a man on there. 294 00:15:43,735 --> 00:15:45,986 And you're never gonna date Puff Daddy. 295 00:15:45,987 --> 00:15:48,405 First of all, no one has said Puff Daddy since the '90s 296 00:15:48,406 --> 00:15:50,783 and second of all, this isn't Puff Daddy. 297 00:15:51,576 --> 00:15:52,744 This is Loop Daddy. 298 00:15:53,661 --> 00:15:57,539 Okay, well, whatever Daddy he's called, he's weird looking. 299 00:15:57,540 --> 00:16:00,292 Hey, well, my guy has, what, 5 million TikTok followers. 300 00:16:00,293 --> 00:16:02,044 - How many does yours have? - I don't know. 301 00:16:02,045 --> 00:16:04,796 Quick scroll. 412. 302 00:16:04,797 --> 00:16:07,132 - Who cares? - The Internet at large. 303 00:16:07,133 --> 00:16:09,177 But hey. Least I aim high. 304 00:16:10,220 --> 00:16:12,096 I aim high. 305 00:16:20,939 --> 00:16:24,191 ♪ 21 bands for the age of 21 ♪ 306 00:16:24,192 --> 00:16:27,569 ♪ I'mma flip the funds up Then I cop the Chevy truck ♪ 307 00:16:27,570 --> 00:16:30,948 ♪ Buy her what she want And you know she show me love ♪ 308 00:16:30,949 --> 00:16:33,909 ♪ Then I roll it up Then I roll it up ♪ 309 00:16:33,910 --> 00:16:37,120 ♪ Motherfuckers wanna hate me And shame me ♪ 310 00:16:37,121 --> 00:16:40,332 ♪ Motherfuckers wanna drain me Cobain me ♪ 311 00:16:40,333 --> 00:16:43,669 ♪ All these bitches trying to chain me And blame me ♪ 312 00:16:43,670 --> 00:16:47,381 ♪ Motherfuckers wanna change me And hate me ♪ 313 00:16:47,382 --> 00:16:49,967 What up, everybody? Roaring Kitty here. 314 00:16:49,968 --> 00:16:54,930 Yo! Yo! Yo! This price action, gettin' kind of ridiculous, am I right? 315 00:16:54,931 --> 00:16:57,474 Let's see what happens. See what happens at the end of the week. 316 00:16:57,475 --> 00:16:59,726 But it's all about the trend staying intact. 317 00:16:59,727 --> 00:17:01,521 But this, this looks sick. 318 00:17:05,024 --> 00:17:06,150 Morning, Marcos! 319 00:17:06,651 --> 00:17:09,612 Shit... Yo, what's... Hey, Brad. 320 00:17:16,828 --> 00:17:20,665 Yo, um, I was wondering if could I get an advance on my pay? 321 00:17:21,291 --> 00:17:22,791 I can run it up the chain, 322 00:17:22,792 --> 00:17:25,253 but with all the cutbacks, that's unlikely. 323 00:17:26,337 --> 00:17:28,463 Oh, hey! You could do the employee TikTok contest. 324 00:17:28,464 --> 00:17:30,924 You do a lip sync, you can win 10 labor hours. 325 00:17:30,925 --> 00:17:32,635 Yeah, man, totally. 326 00:17:33,344 --> 00:17:36,306 That's dope. I was thinkin' "Savage." 327 00:17:37,682 --> 00:17:39,641 Yeah. Yeah, sure, I love it. 328 00:17:39,642 --> 00:17:42,103 Or yo, that Drake one with Lil Durk. 329 00:17:43,730 --> 00:17:44,938 That's a great one too. 330 00:17:44,939 --> 00:17:46,733 Because I know you love Lil Durk. 331 00:17:47,275 --> 00:17:48,192 C'mon. 332 00:17:48,193 --> 00:17:50,819 No, I'm gonna do Megan Thee Stallion. For sure, for sure, for sure. 333 00:17:50,820 --> 00:17:51,863 ♪ I'm a savage ♪ 334 00:17:52,572 --> 00:17:54,865 ♪ Classy, bougie, ratchet ♪ 335 00:17:54,866 --> 00:17:57,576 ♪ Sassy, moody, nasty ♪ 336 00:17:57,577 --> 00:17:59,704 Okay, mask! Mask. 337 00:18:00,830 --> 00:18:02,122 Sorry. 338 00:18:02,123 --> 00:18:04,709 ♪ Acting stupid, what was happening? ♪ 339 00:18:05,293 --> 00:18:07,210 ♪ What's happening? I'm a savage ♪ 340 00:18:07,211 --> 00:18:10,422 Huh, A+ man. You're a shoo-in with moves like that. 341 00:18:10,423 --> 00:18:12,342 Yo, you think so for real, though? 342 00:18:13,384 --> 00:18:14,385 That's sweet, real. 343 00:18:15,887 --> 00:18:17,055 Ten labor hours. 344 00:18:17,930 --> 00:18:19,410 Damn, it's like Christmas came early! 345 00:18:21,059 --> 00:18:22,559 I'm pullin' for ya! 346 00:18:22,560 --> 00:18:23,935 Thanks, man. 347 00:18:26,230 --> 00:18:27,356 ♪ I'm that bitch ♪ 348 00:18:27,357 --> 00:18:29,733 ♪ I'm that bitch Hey ♪ 349 00:18:29,734 --> 00:18:32,903 ♪ I'm the hood Mona Lisa Break a nigga into pieces ♪ 350 00:18:32,904 --> 00:18:35,864 ♪ Had to X some cheesy niggas Out my circle like a pizza ♪ 351 00:18:35,865 --> 00:18:39,534 ♪ I'm way too exclusive I don't shop on Insta' boutiques... ♪ 352 00:18:39,535 --> 00:18:41,870 ♪ ...only fit fake booties ♪ 353 00:18:41,871 --> 00:18:42,996 ♪ Fuck cash shit ♪ 354 00:18:42,997 --> 00:18:43,915 ♪ Talking cash shit ♪ 355 00:18:43,916 --> 00:18:46,083 ♪ Pussy like water I'm unbothered and relaxing ♪ 356 00:18:46,084 --> 00:18:47,001 Mmm! Fries. 357 00:18:47,002 --> 00:18:49,669 ♪ I would never trip on a nigga if I had him ♪ 358 00:18:49,670 --> 00:18:52,631 ♪ Bitch, that's my trash, you the maid So you bagged him ♪ 359 00:18:52,632 --> 00:18:55,967 ♪ I'm a savage Classy, bougie, ratchet ♪ 360 00:18:55,968 --> 00:18:57,135 No, fuck! 361 00:18:57,136 --> 00:18:58,929 ♪ Sassy, moody, nasty... ♪ 362 00:18:58,930 --> 00:18:59,930 God! 363 00:18:59,931 --> 00:19:02,099 Goddamn it! Fuck! 364 00:19:02,100 --> 00:19:05,060 But first, cheers! Cheers, everybody. 365 00:19:05,061 --> 00:19:08,188 I mean, look. I know we still got a lot of bear takes out there. 366 00:19:08,189 --> 00:19:10,107 But as I dive deeper and deeper into this thing, 367 00:19:10,108 --> 00:19:11,983 it's looking increasingly compelling to me. 368 00:19:11,984 --> 00:19:15,195 And then you got the huge short interest. Now, I'm not betting on a short squeeze. 369 00:19:15,196 --> 00:19:17,531 I've been saying that the whole time. You guys have been talking about it. 370 00:19:17,532 --> 00:19:19,116 Thesis is grounded in fundamentals, but I'm not... 371 00:19:19,117 --> 00:19:20,742 But to... I mean, today, I mean, I'm... 372 00:19:20,743 --> 00:19:22,452 I mean, it's starting to feel a little squeezy, right? 373 00:19:22,453 --> 00:19:23,954 Starting to feel a little squeezy. Honk! 374 00:19:23,955 --> 00:19:25,497 I mean, hello. Okay! 375 00:19:25,498 --> 00:19:27,708 All right, all right. I need a drink. I need a drink. 376 00:19:30,128 --> 00:19:33,547 Now. A lot of you are accusing me of talking a big game. 377 00:19:33,548 --> 00:19:34,714 - Keith? - But... 378 00:19:34,715 --> 00:19:37,760 - Babe, where are you? - Oh... Coming! 379 00:19:38,594 --> 00:19:41,179 Duh... I'm on Daddy duty tonight. I'll be right back. 380 00:19:42,682 --> 00:19:44,641 ♪ Stack it, pack it Stack it, pack it, trap it ♪ 381 00:19:44,642 --> 00:19:47,644 ♪ Send it to a rich nigga Tell him work his magic ♪ 382 00:19:47,645 --> 00:19:50,730 ♪ Stack it, pack it Stack it, pack it, trap it ♪ 383 00:19:50,731 --> 00:19:53,733 ♪ Send it to a rich nigga Tell him make somethin' happen ♪ 384 00:19:53,734 --> 00:19:55,485 ♪ I ain't slowin' down for no clown ♪ 385 00:19:56,405 --> 00:19:59,448 ♪ Tell him hit the next route I'm the best out ♪ 386 00:19:59,449 --> 00:20:02,159 ♪ Work on my confidence Now my chest out ♪ 387 00:20:02,160 --> 00:20:05,829 ♪ Pop it and I'm blessed now They only love you when you down ♪ 388 00:20:05,830 --> 00:20:10,125 ♪ I'mma stack it, pack it Stack it, pack it, trap it... ♪ 389 00:20:10,126 --> 00:20:12,712 Okay. There you go. 390 00:20:13,963 --> 00:20:16,423 Ooh! Sorry. 391 00:20:16,424 --> 00:20:17,967 Quick tendie break. 392 00:20:18,468 --> 00:20:19,385 Mmm! 393 00:20:19,386 --> 00:20:20,719 Gotta love those ten dies. 394 00:20:20,720 --> 00:20:22,096 Sweet, sweet ten dies. 395 00:20:23,055 --> 00:20:24,474 Speaking of ten dies. 396 00:20:25,683 --> 00:20:28,478 Look at this. Look at this chart. 397 00:20:29,729 --> 00:20:33,441 We go from four, to six, to seven. Now... 398 00:20:33,983 --> 00:20:34,983 ten. 399 00:20:35,526 --> 00:20:38,195 Wall Street must be seeing this, right? 400 00:20:38,196 --> 00:20:40,697 Or are we just screaming into the void? 401 00:20:40,698 --> 00:20:44,159 Hello, Mr. Market. We got ten dies too. 402 00:20:44,160 --> 00:20:46,579 We got ten dies too. 403 00:20:48,372 --> 00:20:49,332 Maybe we are. 404 00:20:49,333 --> 00:20:54,753 They never saw the, like, 9 billion resumes I sent from 2016 to 2019. 405 00:20:54,754 --> 00:20:57,255 Or in 2009, right after I graduated college. 406 00:20:57,256 --> 00:21:00,842 I guess they were busy with that whole "market crash" thing then. 407 00:21:03,888 --> 00:21:05,555 ♪ Send it to a rich nigga... ♪ 408 00:21:05,556 --> 00:21:07,516 Fuck! 409 00:21:07,517 --> 00:21:08,642 ♪ Stack it... ♪ 410 00:21:16,567 --> 00:21:17,859 Kevin, you son of a bitch! 411 00:21:17,860 --> 00:21:19,986 You can't run with a baby. You can't run with a baby! 412 00:21:19,987 --> 00:21:22,906 - Don't take my car, man! - I fucked up your seat! 413 00:21:22,907 --> 00:21:24,534 There's no gas left. 414 00:21:25,326 --> 00:21:27,452 I know. 415 00:21:28,829 --> 00:21:31,581 - ♪ You in the zone ♪ - ♪ I can be a better man... ♪ 416 00:21:38,089 --> 00:21:39,715 How did that taste? 417 00:21:42,009 --> 00:21:44,052 Hey-oh, can I put my pants back on? 418 00:21:44,053 --> 00:21:45,136 No! 419 00:21:45,137 --> 00:21:50,559 "Choose a player and put your hand down their panties for a whole minute." 420 00:21:50,560 --> 00:21:52,102 Panties, who's got panties? 421 00:21:52,103 --> 00:21:53,603 "Two shots if they refuse." 422 00:21:53,604 --> 00:21:56,022 I mean, I got some panties. 423 00:21:56,023 --> 00:21:57,649 Ew! 424 00:21:57,650 --> 00:22:00,736 Bro. 425 00:22:01,904 --> 00:22:04,156 - Hello. - All right. 426 00:22:05,199 --> 00:22:06,992 - All right. - Hey, girl. 427 00:22:06,993 --> 00:22:08,493 You said two shots, right? 428 00:22:08,494 --> 00:22:10,036 Oh, c'mon. 429 00:22:11,747 --> 00:22:13,290 Fuck, all good. 430 00:22:13,291 --> 00:22:15,709 - Can someone start the timer? - I got you. I got you. 431 00:22:15,710 --> 00:22:18,211 - Should I just...? Okay. - Get in there. 432 00:22:18,212 --> 00:22:19,589 - You sure? - Yeah. 433 00:22:20,339 --> 00:22:22,383 Whoa. 434 00:22:23,092 --> 00:22:24,427 Okay... 435 00:22:25,094 --> 00:22:27,305 Hi. 436 00:22:29,557 --> 00:22:31,975 How are you? 437 00:22:31,976 --> 00:22:33,476 Can you shut the fuck up? 438 00:22:33,477 --> 00:22:36,187 Fuck off! 439 00:22:36,188 --> 00:22:37,772 So what'd you do today? 440 00:22:37,773 --> 00:22:41,443 Well, I attended a Zoom seminar 441 00:22:41,444 --> 00:22:45,281 during which I watched two hours of TikTok. 442 00:22:47,116 --> 00:22:48,408 Oh! 443 00:22:48,409 --> 00:22:51,495 I, um, purchased three shares of stock. 444 00:22:52,455 --> 00:22:53,913 Okay, what stock? 445 00:22:53,914 --> 00:22:56,666 - GameStop. - Yo, Roaring Kitty! 446 00:22:56,667 --> 00:22:58,418 C'mon. Yes, James. 447 00:22:58,419 --> 00:23:01,171 Can I please put some pants back on? 448 00:23:01,172 --> 00:23:02,255 - No! - Sit down. 449 00:23:02,256 --> 00:23:05,550 I'm three days into that shit. Look it. That's just, that's only from today. 450 00:23:05,551 --> 00:23:07,969 I don't care. I don't know what the fuck I'm doing. 451 00:23:07,970 --> 00:23:09,220 I just know I'm making money. 452 00:23:09,221 --> 00:23:10,764 I'm not sold on that. 453 00:23:10,765 --> 00:23:12,557 It's doubled since summer. 454 00:23:12,558 --> 00:23:15,018 And the more people who buy in, the higher it'll go. 455 00:23:15,019 --> 00:23:17,563 That sounds like the literal definition of a pyramid scheme. 456 00:23:18,356 --> 00:23:19,982 - That's time. - Bravo! 457 00:23:24,278 --> 00:23:26,739 ♪ You make me wanna You make me wanna ♪ 458 00:23:29,158 --> 00:23:32,452 ♪ You make me wanna You make me wanna ♪ 459 00:23:32,453 --> 00:23:34,413 ♪ You make me wanna ♪ 460 00:23:36,457 --> 00:23:40,627 ♪ You make me wanna You make me wanna ♪ 461 00:23:40,628 --> 00:23:42,296 ♪ You make me wanna... ♪ 462 00:23:43,339 --> 00:23:47,175 Sorry, I have terrible allergies. And a killer headache. 463 00:23:47,176 --> 00:23:49,427 Could just be the music coming from next door though. 464 00:23:49,428 --> 00:23:53,264 You see your buddy Ken's up to 57 billion in short positions? 465 00:23:53,265 --> 00:23:55,267 Yeah, smart. The economy's in free fall. 466 00:23:56,268 --> 00:23:57,770 Mmm. 467 00:23:59,480 --> 00:24:01,856 I honestly can't tell if that was you or Romeo. 468 00:24:01,857 --> 00:24:03,483 Very funny. 469 00:24:03,484 --> 00:24:06,570 I'm telling you. This is when they drag out the guillotines. 470 00:24:07,154 --> 00:24:09,280 - You're obsessed with him. - The man is an asshole. 471 00:24:09,281 --> 00:24:13,327 He stole five analysts from me. All mediocre by the way. 472 00:24:14,120 --> 00:24:15,328 Oh, and two paintings. 473 00:24:15,329 --> 00:24:17,622 - What paintings? - A Picasso and a de Kooning. 474 00:24:17,623 --> 00:24:19,124 He overpaid 500 million. 475 00:24:19,125 --> 00:24:21,334 That is my entire nut from last year. 476 00:24:21,335 --> 00:24:23,128 The man is an asshole. Just admit it. 477 00:24:23,129 --> 00:24:25,547 You're just bitter he stole those analysts. 478 00:24:25,548 --> 00:24:27,590 You seen Citadel's projected revenue? 479 00:24:27,591 --> 00:24:29,801 $7 billion. 480 00:24:29,802 --> 00:24:32,429 That's, uh, double last year. 481 00:24:32,430 --> 00:24:34,556 Hoovering up all the stimulus checks. 482 00:24:34,557 --> 00:24:36,641 - They go straight from the retail traders - Thank you. 483 00:24:36,642 --> 00:24:38,435 Right into Kenny boy's pockets. 484 00:24:38,436 --> 00:24:42,606 The man just gets away with murder. Look at what I just sent you. 485 00:24:50,281 --> 00:24:53,867 Is this a video of a man drinking his own urine because a stock went up? 486 00:24:53,868 --> 00:24:55,118 #1 post on the site. 487 00:24:55,119 --> 00:24:56,745 Where did you get this? 488 00:24:56,746 --> 00:24:58,705 My analysts sent it to me. 489 00:24:58,706 --> 00:25:03,877 They call themselves apes and r-words. Retard, can they say that? 490 00:25:03,878 --> 00:25:08,006 Remarkably self-aware. They've hooked into GameStop for whatever reason. 491 00:25:08,007 --> 00:25:09,758 They think it's funny, it seems. 492 00:25:09,759 --> 00:25:11,134 I think it's funny. 493 00:25:11,135 --> 00:25:12,844 I think they think it's a good investment. 494 00:25:12,845 --> 00:25:15,222 Retail traders always lose. 495 00:25:17,057 --> 00:25:19,184 We've actually been short GameStop since 2014. 496 00:25:19,185 --> 00:25:24,231 The company is a complete disaster. They've had six CEOs in two years. 497 00:25:25,232 --> 00:25:27,734 Guess these guys are ignoring obvious secular market trends. 498 00:25:27,735 --> 00:25:30,862 Or they're... the stupidest people on earth. 499 00:25:30,863 --> 00:25:33,323 You're shorting more right now, aren't you? 500 00:25:33,324 --> 00:25:35,826 600,000 shares, maybe. 501 00:25:36,410 --> 00:25:38,036 Dumb money, man. 502 00:25:38,037 --> 00:25:39,537 I'm happy to take it. 503 00:25:43,542 --> 00:25:46,420 Mmm! Mmm-mmm-mmm! 504 00:25:47,046 --> 00:25:48,755 Mmm-mmm-mmm! 505 00:25:48,756 --> 00:25:50,715 Listen up, retards, 506 00:25:50,716 --> 00:25:55,720 Melvin Capital has declared war on GME by shorting the stock even more. 507 00:25:55,721 --> 00:25:59,808 This is our call to activate diamond hands, my fellow warriors. 508 00:25:59,809 --> 00:26:04,813 We will not let the gay bears defeat us. We are on a mission to the fucking moon. 509 00:26:04,814 --> 00:26:07,857 This is one that is bigger than your personal gains. 510 00:26:07,858 --> 00:26:10,485 More than just ten dies for a new Lambo. 511 00:26:10,486 --> 00:26:14,656 This is our chance to rise up together. To stick it to the big man. 512 00:26:14,657 --> 00:26:16,908 Squeezing Melvin by the fucking balls 513 00:26:16,909 --> 00:26:19,829 with the collective power of diamond handing autists. 514 00:26:20,412 --> 00:26:23,832 Wall Street Bets I thought were a bunch of idiots just throwing money at a stock 515 00:26:23,833 --> 00:26:25,542 because they thought it was funny. 516 00:26:25,543 --> 00:26:26,876 I was wrong. 517 00:26:26,877 --> 00:26:29,420 Now I see what Wall Street Bets really is. 518 00:26:29,421 --> 00:26:32,465 - It is a revolution. - This is one of those rare moments 519 00:26:32,466 --> 00:26:34,592 where Wall Street are the ones getting screwed over. 520 00:26:34,593 --> 00:26:36,302 And when we decide we're hungry, 521 00:26:36,303 --> 00:26:38,763 there is very little the rich can do to stop us 522 00:26:38,764 --> 00:26:40,932 - from beating them. - It's a GameStop to stop the game. 523 00:26:40,933 --> 00:26:43,101 - Power to the people. - I'm jerking off right now. 524 00:26:43,102 --> 00:26:44,143 Jerking off right now. 525 00:26:44,144 --> 00:26:46,771 So welcome aboard, grab your peanuts, 526 00:26:46,772 --> 00:26:48,731 and get the fuck in, retard. 527 00:26:48,732 --> 00:26:50,900 Ho, ho, ho! 528 00:26:50,901 --> 00:26:56,322 What up, everybody? Merry Christmas, Happy New Year's, happy holidays. Uh... 529 00:26:56,323 --> 00:26:58,741 2020... See ya. 530 00:26:58,742 --> 00:27:01,870 2020 has been a very rough year for my family too. 531 00:27:01,871 --> 00:27:04,956 So this GameStop news has been a bit of a bright spot. 532 00:27:04,957 --> 00:27:07,542 Uh, look at this, I mean, where it's at. 533 00:27:07,543 --> 00:27:11,254 It's a five bagger from where it was over the summer. 534 00:27:11,255 --> 00:27:15,258 You don't often see a thesis play out like this. 535 00:27:15,259 --> 00:27:16,342 So we gotta... 536 00:27:16,343 --> 00:27:18,971 We can't take it for granted, right? We gotta appreciate it. 537 00:27:19,889 --> 00:27:22,308 Thank you, Santa. Right. 538 00:27:23,058 --> 00:27:26,853 Uh, I wanted to say cheers all of you. 539 00:27:26,854 --> 00:27:29,106 You're why I'm here in the first place. 540 00:27:29,773 --> 00:27:32,859 Uh, it's fun to talk about. I mean, I figure, 541 00:27:32,860 --> 00:27:35,445 if I worked at a hedge fund, I'd compare notes with my colleagues. 542 00:27:35,446 --> 00:27:38,031 But I don't. I'm stuck at home like you guys. So... 543 00:27:38,032 --> 00:27:40,408 Uh, I believe in this stock. 544 00:27:40,409 --> 00:27:42,745 And I believe in this community. 545 00:27:43,412 --> 00:27:44,621 Um... 546 00:27:44,622 --> 00:27:49,501 I'll be honest, uh, it's been kind of a shitty year. 547 00:27:50,753 --> 00:27:55,506 Uh, for a lot of people. Lotta people lost people the past 12 months. I did too. 548 00:27:55,507 --> 00:27:57,759 Uh, my sister, Sara. 549 00:27:57,760 --> 00:27:58,843 Uh... 550 00:28:06,810 --> 00:28:08,687 I don't talk about it much. 551 00:28:10,481 --> 00:28:12,440 But it felt right to tell you. 552 00:28:12,441 --> 00:28:14,776 Uh, we've been through so much together. 553 00:28:14,777 --> 00:28:17,905 You've made me feel a part of something, something big. 554 00:28:18,864 --> 00:28:21,700 So, uh, Merry Christmas. Cheers. 555 00:28:55,567 --> 00:28:56,694 I like your car. 556 00:28:59,196 --> 00:29:00,405 It's a classic. 557 00:29:00,406 --> 00:29:02,073 - '95. - Yes! 558 00:29:02,074 --> 00:29:03,950 Sadly, it's a gas-guzzler. 559 00:29:03,951 --> 00:29:06,453 Yeah, yup, this one too. 560 00:29:07,413 --> 00:29:11,457 But she's such a beauty I couldn't stand to trade her. 561 00:29:11,458 --> 00:29:13,126 '96 Honda Accord? 562 00:29:13,127 --> 00:29:16,547 Uh, 2003. Not quite a classic. 563 00:29:24,930 --> 00:29:29,017 It's kinda weird to talk to someone and see their whole face. Right? 564 00:29:29,018 --> 00:29:30,561 It's been so long. 565 00:29:31,395 --> 00:29:35,148 I... I work at a hospital, you could probably tell. 566 00:29:35,149 --> 00:29:36,400 Essential worker. 567 00:29:36,984 --> 00:29:38,401 Thank you for everything you do. 568 00:29:38,402 --> 00:29:39,695 Oh, you're very welcome. 569 00:29:51,165 --> 00:29:52,583 Hey, uh... 570 00:29:53,709 --> 00:29:55,127 Have a good night. 571 00:29:56,045 --> 00:29:57,171 Cool. 572 00:29:57,963 --> 00:29:59,465 Safe travels. 573 00:30:16,148 --> 00:30:18,316 Remember when you were just making fun of me 574 00:30:18,317 --> 00:30:21,736 - and now you're literally obsessed. - No, I don't recall. 575 00:30:21,737 --> 00:30:24,697 - How much are you up? - 948. 576 00:30:24,698 --> 00:30:27,909 Stock dipped a little, it was like 2,000 before Christmas. 577 00:30:27,910 --> 00:30:29,536 Maybe you should sell. 578 00:30:31,705 --> 00:30:33,831 No. It's not about the money. 579 00:30:33,832 --> 00:30:35,833 The stock market is not about the money? 580 00:30:35,834 --> 00:30:38,420 No. You just gotta read some of the stuff on here. 581 00:30:39,004 --> 00:30:42,715 Never understood why my dad was so pissed off about this whole thing, 582 00:30:42,716 --> 00:30:43,842 but now I do. 583 00:30:45,427 --> 00:30:46,928 I told you about his store, right? 584 00:30:46,929 --> 00:30:48,388 Costco? 585 00:30:49,056 --> 00:30:50,556 Shopko. 586 00:30:50,557 --> 00:30:52,226 It was like, this like... 587 00:30:53,060 --> 00:30:54,853 big chain in our area. 588 00:30:55,687 --> 00:30:59,566 My dad, he worked his way all the way up from bag boy to general manager. 589 00:31:00,317 --> 00:31:03,027 Then one of these Wall Street funds came in, bought it, 590 00:31:03,028 --> 00:31:07,490 and vampire-sucked all the money out of it and then declared bankruptcy. 591 00:31:07,491 --> 00:31:08,659 Fuck. 592 00:31:09,785 --> 00:31:10,869 Yeah. 593 00:31:12,579 --> 00:31:15,624 He lost his pension. Everything. 594 00:31:16,959 --> 00:31:19,836 It's why he had to work at Pick 'n fuckin' Save till the day he died. 595 00:31:19,837 --> 00:31:22,297 And now that's why I'm up to my ass in debt. 596 00:31:23,632 --> 00:31:26,301 And these fuckers are trying to do the same thing to GameStop. 597 00:31:27,761 --> 00:31:28,929 Fuck 'em. 598 00:31:30,556 --> 00:31:31,890 Fuck 'em all. 599 00:31:53,537 --> 00:31:55,413 - Wait, look. - Hm? 600 00:31:55,414 --> 00:31:56,831 Look at this. 601 00:31:56,832 --> 00:31:59,709 - This guy wants to CashApp me $100 - Shut the fuck up. 602 00:31:59,710 --> 00:32:03,754 To send him a selfie. Or 500 if I live chat him from a bubble bath. 603 00:32:03,755 --> 00:32:05,673 Yes! Yes, we should do it. 604 00:32:05,674 --> 00:32:07,884 - What? - Yes, we do it. 605 00:32:07,885 --> 00:32:10,345 And then put the money into GameStop. 606 00:32:10,888 --> 00:32:14,640 - Who am I talking to right now? - C'mon, bitch, let's go get a tub. 607 00:32:16,351 --> 00:32:18,811 ♪ We got this motherfucker lit On some money shit ♪ 608 00:32:18,812 --> 00:32:21,814 ♪ Yeah, everybody's shit Everybody's shit, yeah ♪ 609 00:32:21,815 --> 00:32:24,358 ♪ We got this motherfucker lit On some money shit ♪ 610 00:32:24,359 --> 00:32:27,028 ♪ Everybody's shit Everybody's shit ♪ 611 00:32:27,029 --> 00:32:28,362 ♪ Unh, please don't pretend... ♪ 612 00:32:28,363 --> 00:32:29,530 Your entire business 613 00:32:29,531 --> 00:32:31,657 is kids spending their lunch money on random stocks. 614 00:32:31,658 --> 00:32:33,492 They come to you because it's free. 615 00:32:33,493 --> 00:32:37,580 But if you don't charge a commission on their trades, 616 00:32:37,581 --> 00:32:39,498 how do you make money? 617 00:32:40,460 --> 00:32:46,130 The idea for Robinhood really came out of the Occupy Wall Street movement. 618 00:32:46,131 --> 00:32:47,840 All those people with no way of getting in. 619 00:32:47,841 --> 00:32:50,176 Is that what Occupy was about? 620 00:32:50,177 --> 00:32:52,970 I mean, were they trying to get in or... 621 00:32:52,971 --> 00:32:55,181 So we said, it's not enough to occupy. 622 00:32:55,182 --> 00:32:58,142 - We need to democratize Wall Street. - Nat, I'm not sure you know this, 623 00:32:58,143 --> 00:32:59,644 but Baiju and I are both immigrants. 624 00:32:59,645 --> 00:33:01,437 I was born in Bulgaria, 625 00:33:01,438 --> 00:33:04,107 and Baiju's parents immigrated from India to the Deep South. 626 00:33:04,983 --> 00:33:08,653 Can you imagine growing up in rural Virginia with a name like 627 00:33:08,654 --> 00:33:11,697 Baiju Prafulkumar Bhatt? 628 00:33:11,698 --> 00:33:15,034 We created commission-free trading so that anyone can get in the game. 629 00:33:15,035 --> 00:33:18,579 You don't even need a bank account. People have really responded. 630 00:33:18,580 --> 00:33:22,541 We've added 5 million users, uh, in the last six months, 631 00:33:22,542 --> 00:33:25,378 - for a total of, um... - Close to 20 at this point. Million. 632 00:33:25,379 --> 00:33:27,213 So, you're one of these tech companies 633 00:33:27,214 --> 00:33:29,548 that's exploded growth-wise, but doesn't make any money. 634 00:33:29,549 --> 00:33:31,384 - We make money. - But how? 635 00:33:31,385 --> 00:33:34,387 - If you don't charge commission then... - From interest on people's accounts. 636 00:33:34,388 --> 00:33:35,972 But your users are mostly young. 637 00:33:35,973 --> 00:33:38,766 So, how much money can they really be keeping in their account? 638 00:33:38,767 --> 00:33:40,393 There's also payment for order flow. 639 00:33:40,394 --> 00:33:41,311 What's that? 640 00:33:41,312 --> 00:33:44,188 We prefer the term "stock order routing." 641 00:33:44,189 --> 00:33:46,148 When you buy or sell a stock on our app, 642 00:33:46,149 --> 00:33:48,943 we send your order to market makers, who process the order. 643 00:33:48,944 --> 00:33:51,320 They pay us a tiny rebate on every trade. 644 00:33:51,321 --> 00:33:53,114 - Tiny. - But it adds up. 645 00:33:53,115 --> 00:33:55,449 We should really get back to how we... started our company. 646 00:33:55,450 --> 00:33:56,951 What market maker do you work with? 647 00:33:56,952 --> 00:33:59,245 A few. Citadel Securities mostly. 648 00:33:59,246 --> 00:34:01,622 Ken Griffin's firm? Isn't that a hedge fund? 649 00:34:01,623 --> 00:34:05,209 Well, Ken Griffin's hedge fund is called Citadel. 650 00:34:05,210 --> 00:34:07,878 But Citadel Securities is a completely different company. 651 00:34:07,879 --> 00:34:09,673 Also owned by Ken Griffin? 652 00:34:11,091 --> 00:34:12,175 All right, 653 00:34:12,843 --> 00:34:15,512 we weren't gonna do this, but we'll give you a scoop. 654 00:34:16,179 --> 00:34:18,015 Off the record for now. 655 00:34:18,682 --> 00:34:19,725 Okay. 656 00:34:21,059 --> 00:34:22,978 We're looking to IPO soon. 657 00:34:24,855 --> 00:34:27,357 Damn. Okay. 658 00:34:28,483 --> 00:34:29,483 That's big. 659 00:34:30,819 --> 00:34:33,779 ♪ Girl, I can buy your ass the world With my paystub ♪ 660 00:34:33,780 --> 00:34:37,158 ♪ Ooh, that pussy good Won't you sit it on my taste bloods? ♪ 661 00:34:37,159 --> 00:34:40,453 ♪ I get way too petty Once you let me do the extras ♪ 662 00:34:40,454 --> 00:34:43,414 ♪ Pull up on your block then break it down We playin' Tetris ♪ 663 00:34:43,415 --> 00:34:46,625 ♪ AM to the PM, PM to the AM, funk ♪ 664 00:34:46,626 --> 00:34:49,837 ♪ Piss out your per diem You just gotta hate 'em, funk ♪ 665 00:34:49,838 --> 00:34:51,297 ♪ If I quit your BM ♪ 666 00:34:51,298 --> 00:34:53,507 ♪ Hold up Sit down, lil bitch ♪ 667 00:34:53,508 --> 00:34:55,426 ♪ Be humble, lil bitch... ♪ 668 00:34:55,427 --> 00:34:56,802 Okay, don't say the bad word. 669 00:34:56,803 --> 00:34:58,054 ♪ Be humble ♪ 670 00:34:58,055 --> 00:34:59,722 ♪ Sit down ♪ 671 00:34:59,723 --> 00:35:01,307 ♪ ...be humble... ♪ 672 00:35:01,308 --> 00:35:03,977 ♪ Sit down, be humble ♪ 673 00:35:04,603 --> 00:35:05,895 - ♪ Sit down ♪ - ♪ Sit down ♪ 674 00:35:05,896 --> 00:35:07,813 - ♪ ...be humble ♪ - ♪ Hold up, lil bitch ♪ 675 00:35:07,814 --> 00:35:10,566 - ♪ Sit down, be humble ♪ - ♪ Sit down, lil bitch ♪ 676 00:35:10,567 --> 00:35:12,693 - ♪ Bitch, sit down ♪ - ♪ Hold up... ♪ 677 00:35:12,694 --> 00:35:14,945 ♪ Be humble, sit down, lil bitch ♪ 678 00:35:14,946 --> 00:35:17,198 Kev, please. Your father needs to concentrate. 679 00:35:17,199 --> 00:35:18,407 ♪ Well, sit down, lil bitch ♪ 680 00:35:18,408 --> 00:35:21,285 Drove long-haul for forty years. I don't need to concentrate. 681 00:35:21,286 --> 00:35:23,704 Fine. I need to concentrate. 682 00:35:23,705 --> 00:35:25,956 What do you need to concentrate about? 683 00:35:25,957 --> 00:35:27,124 What? 684 00:35:27,125 --> 00:35:29,335 I thought they were veering over into our lane. 685 00:35:29,336 --> 00:35:31,922 Nobody was veering, Elaine. It's okay. 686 00:35:35,884 --> 00:35:37,927 You talk to any of the girls at the clinic? 687 00:35:37,928 --> 00:35:39,638 A few of them have called. 688 00:35:42,933 --> 00:35:44,350 I miss it. 689 00:35:44,351 --> 00:35:46,186 Boys, never retire. 690 00:35:46,853 --> 00:35:48,522 Keith, never retire. 691 00:35:49,189 --> 00:35:51,190 Kevin, if you ever get a job, never retire. 692 00:35:51,191 --> 00:35:52,274 I have a job! 693 00:35:52,275 --> 00:35:54,568 Yet you still live with Ma and Dad. 694 00:35:54,569 --> 00:35:58,197 Oh, you're some big professional now cuz you're fucking king dork on YouTube? 695 00:35:58,198 --> 00:35:59,532 Just one of many dorks. 696 00:35:59,533 --> 00:36:01,867 This asshole thinks he's Jimmy Buffett now. 697 00:36:01,868 --> 00:36:03,452 - C'mon. - Warren Buffett. 698 00:36:03,453 --> 00:36:05,496 - Warren Buffett. - See? 699 00:36:05,497 --> 00:36:08,500 You're not either of the Buffetts, Kitty! 700 00:36:11,753 --> 00:36:13,004 You're Ballz? 701 00:36:16,299 --> 00:36:18,008 - Hey! - Ah, good Christ. 702 00:36:18,009 --> 00:36:18,927 - Fellas. - Ma. 703 00:36:18,928 --> 00:36:21,388 Drop! Stop it! 704 00:36:25,851 --> 00:36:27,018 Door Dash is not a job. 705 00:36:28,186 --> 00:36:29,228 MassMutual's a job. 706 00:36:29,229 --> 00:36:31,480 - A job's got business cards. - Door Dash is a job. 707 00:36:31,481 --> 00:36:32,773 Okay, I'm a first responder. 708 00:36:32,774 --> 00:36:35,569 And second of all, Ma, nobody uses business cards anymore. 709 00:36:37,320 --> 00:36:39,239 We're proud of you, honey. 710 00:36:40,282 --> 00:36:41,532 Get a room. 711 00:37:01,428 --> 00:37:04,431 Take your time. I'll be in the car. 712 00:37:16,610 --> 00:37:17,944 Yeah. 713 00:37:26,536 --> 00:37:27,829 Love you. 714 00:37:51,895 --> 00:37:53,479 It has been dragging on. 715 00:37:53,480 --> 00:37:55,773 Honestly, I don't know when we'll be able to start demo 716 00:37:55,774 --> 00:37:57,608 because local ordinances are a nightmare. 717 00:37:57,609 --> 00:38:00,861 My heart bleeds for you. Having to borrow a tennis court. 718 00:38:00,862 --> 00:38:02,655 "Borrower is slave to the lender." 719 00:38:02,656 --> 00:38:03,697 Is that Buffett? 720 00:38:03,698 --> 00:38:06,909 It's the Bible. Uh, Proverbs. My Grandpa Melvin used to say it. 721 00:38:06,910 --> 00:38:08,619 When he was starting his convenience store, 722 00:38:08,620 --> 00:38:09,954 he refused to borrow one dollar. 723 00:38:09,955 --> 00:38:10,996 It was a point of pride. 724 00:38:10,997 --> 00:38:12,790 Ah, yes, your humble beginnings. 725 00:38:12,791 --> 00:38:16,920 "Grandpa Melvin" Capital, now with 16 billion under management. 726 00:38:17,504 --> 00:38:20,172 Better than "Citadel." You sound like you're preparing for war. 727 00:38:20,173 --> 00:38:21,298 I'm a man of the people. 728 00:38:21,299 --> 00:38:22,508 You rented out a resort, 729 00:38:22,509 --> 00:38:25,928 and relocated your entire firm here so you could stay open during lockdown. 730 00:38:25,929 --> 00:38:29,181 Says the man who flew his whole firm down private just for a party. 731 00:38:29,182 --> 00:38:31,100 And anyway, what kind of company shuts down 732 00:38:31,101 --> 00:38:32,977 just because the government tells them to? 733 00:38:32,978 --> 00:38:35,187 All the ones in your short portfolio. 734 00:38:35,188 --> 00:38:37,147 - And yours. - Ah! 735 00:38:37,148 --> 00:38:39,775 - All except for one actually. - Which one? 736 00:38:39,776 --> 00:38:41,735 - GameStop. - How? 737 00:38:41,736 --> 00:38:44,405 They sell computer mouses. Mice? 738 00:38:44,406 --> 00:38:46,574 They claim it makes them an essential business. 739 00:38:46,575 --> 00:38:49,159 That is the smartest dumbest thing I've ever heard. 740 00:38:49,160 --> 00:38:51,954 I know, it's actually a fun one. The revenue's in the toilet. 741 00:38:51,955 --> 00:38:54,748 632 million net loss last year. 742 00:38:54,749 --> 00:38:57,793 They'd be better off just burning the whole company down. 743 00:38:57,794 --> 00:39:00,963 The stock though, it has been volatile. It's been up. 744 00:39:00,964 --> 00:39:03,549 - Buybacks? - Retail traders. 745 00:39:03,550 --> 00:39:05,759 Bro. I don't have it, bro. 746 00:39:05,760 --> 00:39:06,885 - Damn, brother. - Sorry, man. 747 00:39:06,886 --> 00:39:08,345 - Yeah, yeah, yeah. - Have a good one, bro. 748 00:39:08,346 --> 00:39:10,765 - Yo, stay up though! Aight, bro. Aight. - Yeah. 749 00:39:16,438 --> 00:39:18,063 I'm gonna put these back real quick. 750 00:39:25,572 --> 00:39:26,740 Hey, Marcos. 751 00:39:27,699 --> 00:39:28,867 Yes, Bradley? 752 00:39:30,160 --> 00:39:32,703 Uh, I... I love how you engaged with that customer, 753 00:39:32,704 --> 00:39:34,997 but we really wanna close those pre-owned sales. 754 00:39:34,998 --> 00:39:36,373 The margin's more than double. 755 00:39:36,374 --> 00:39:37,875 Oh shit, double. 756 00:39:37,876 --> 00:39:39,835 Yeah, you didn't do any of the five prongs, dude: 757 00:39:39,836 --> 00:39:43,297 Pre-orders. Reward-card subscriptions. Used sales. New sales. Trade-ins. 758 00:39:43,298 --> 00:39:45,090 Yeah, I mean, when I was a 16-year old gamer, 759 00:39:45,091 --> 00:39:47,092 all I wanted was a reward-card subscription. 760 00:39:47,093 --> 00:39:50,430 $5 cash back monthly, 20 points for every dollar spent... 761 00:39:51,014 --> 00:39:51,848 Don't get me started. 762 00:39:51,849 --> 00:39:54,433 A lot of really smart people in corporate put this plan together. 763 00:39:54,434 --> 00:39:56,852 Yeah, but any of them ever played a video game? 764 00:39:56,853 --> 00:39:59,813 Uh, it doesn't matter, Marcos, because they own our asses. 765 00:39:59,814 --> 00:40:02,984 Yo, they don't own my ass, so. 766 00:40:03,526 --> 00:40:04,610 They do, 767 00:40:04,611 --> 00:40:06,071 and they always will. 768 00:40:09,157 --> 00:40:10,200 Mask. 769 00:40:12,118 --> 00:40:13,370 Hey, Bradley. 770 00:40:16,498 --> 00:40:18,583 You ever heard of a short squeeze? 771 00:40:26,341 --> 00:40:28,134 Is that a sexual thing? 772 00:40:29,969 --> 00:40:31,346 No. 773 00:40:32,806 --> 00:40:34,181 Oh, yeah! 774 00:40:34,182 --> 00:40:36,809 Here's what's going on. Late last year, 775 00:40:36,810 --> 00:40:41,480 hedge funds started shorting stock in the retail store GameStop. 776 00:40:41,481 --> 00:40:45,067 Meaning they had bet against it and needed it to drop in price 777 00:40:45,068 --> 00:40:48,862 for their investments to be successful. Now unfortunately for the hedge funds, 778 00:40:48,863 --> 00:40:54,410 small investors started buying the stock led by something called Wall Street Bets, 779 00:40:54,411 --> 00:40:58,080 a popular, juvenile, foul-mouthed Reddit page. 780 00:40:58,081 --> 00:40:59,915 And when Wall Street Bets noticed 781 00:40:59,916 --> 00:41:03,752 that hedge funds had taken a large short position in GameStop stock, 782 00:41:03,753 --> 00:41:06,422 they decided to punish the Wall Street big boys 783 00:41:06,423 --> 00:41:09,259 and launched a coordinated buying spree. 784 00:41:09,884 --> 00:41:12,886 The revolutionaries on Reddit are spanking Wall Street's ass. 785 00:41:12,887 --> 00:41:18,976 GameStop shares absolutely going nuts. I think it was up over 70% at one point. 786 00:41:18,977 --> 00:41:20,936 - Massive short squeeze, - Show me... 787 00:41:20,937 --> 00:41:23,689 - closing there, with a gain of 51% - the tendiesss! 788 00:41:23,690 --> 00:41:25,649 After traders on message boards... 789 00:41:29,070 --> 00:41:30,487 What? 790 00:41:30,488 --> 00:41:35,492 Happy Wednesday! Happy hump day! Gee... look at this! 791 00:41:35,493 --> 00:41:36,910 Look at this shit! 792 00:41:36,911 --> 00:41:40,122 A 90% increase in one day? In one fucking day! 793 00:41:40,123 --> 00:41:43,500 We're goin' to the mooooon. 794 00:41:43,501 --> 00:41:46,670 Whoa-ho-ho-ho! 795 00:41:46,671 --> 00:41:49,298 Okay, now, if you've been watching this price action, 796 00:41:49,299 --> 00:41:50,466 this is what I'm talking about. 797 00:41:50,467 --> 00:41:52,551 Yeah, but you can really feel that panic from Wall Street, right. 798 00:41:52,552 --> 00:41:54,928 When they... we're starting to feel a little squeeze. Starting to feel it. 799 00:41:54,929 --> 00:41:56,472 You're starting to really feel a little squeeze. 800 00:41:56,473 --> 00:41:59,266 I need a drink. I need a drink. I know we all drinking tonight. 801 00:41:59,267 --> 00:42:00,809 We fucking did it! 802 00:42:00,810 --> 00:42:03,604 We started from the bottom and now we're here! 803 00:42:03,605 --> 00:42:06,982 Let's raise a glass 804 00:42:06,983 --> 00:42:10,904 to a great company that's undervalued, cheers. 805 00:42:11,488 --> 00:42:15,115 Soon may the tendiemen come... Show me the ten dies. Show me the ten dies. 806 00:42:15,116 --> 00:42:16,366 I got 'em right here. 807 00:42:16,367 --> 00:42:19,745 Show me the ten dies. I just gotta... I just gotta dip. 808 00:42:19,746 --> 00:42:22,457 I just gotta... I just gotta dip. Ah! 809 00:42:23,875 --> 00:42:24,709 Mmm. 810 00:42:24,710 --> 00:42:27,544 ♪ No way And I would do... ♪ 811 00:42:27,545 --> 00:42:30,380 Mmm-mmm-mmm. 812 00:42:30,381 --> 00:42:32,090 11 fucking million dollars? 813 00:42:32,091 --> 00:42:33,051 What the fuck! 814 00:42:33,052 --> 00:42:35,803 - Oh, language. The baby's here. - What are you gonna do? 815 00:42:35,804 --> 00:42:38,096 Get a Ferrari? A Lambo? 816 00:42:38,097 --> 00:42:39,848 Caroline, you're gonna ask for a big diamond, right? 817 00:42:39,849 --> 00:42:41,225 I have a diamond. 818 00:42:41,226 --> 00:42:43,685 Keith, you get a fucking diamond! If I were you, I'd look like 819 00:42:43,686 --> 00:42:46,271 - DJ Khaled right now. - Kev! It's not real. 820 00:42:46,272 --> 00:42:47,898 I mean, it's real, but it's just paper. 821 00:42:47,899 --> 00:42:50,984 Just on paper! You're gonna sell, right? 822 00:42:50,985 --> 00:42:52,278 - No! - Maybe. 823 00:42:52,821 --> 00:42:55,531 I mean, I don't know. Uh... 824 00:42:55,532 --> 00:42:59,034 - We... we haven't talked about it. - What the fuck is wrong with you? 825 00:42:59,035 --> 00:43:02,287 I'm riding Mom's bike every day to Dorchester to drop off cheeseburgers 826 00:43:02,288 --> 00:43:03,747 because you won't let me use your fucking car. 827 00:43:03,748 --> 00:43:05,916 And you're mister "I won't sell and take millions of dollars." 828 00:43:05,917 --> 00:43:08,252 And, well, what you do with your life is your choice. 829 00:43:08,253 --> 00:43:11,171 You think I wanted to get laid off from Dick's during a global pandemic? 830 00:43:11,172 --> 00:43:14,383 I love those sneakers, man. I loved that store. I love Dick's. 831 00:43:14,384 --> 00:43:17,469 - Mom's bike doesn't even have gears. - We don't know if it's reached the top. 832 00:43:17,470 --> 00:43:20,389 The stock jumped like 23% yesterday. 833 00:43:20,390 --> 00:43:22,266 - Double from Friday's close. - But he's right. 834 00:43:22,267 --> 00:43:24,643 I mean, 11 million dollars is a lot of fucking dough. 835 00:43:24,644 --> 00:43:25,894 - Thank you! - Okay, yes, 836 00:43:25,895 --> 00:43:29,022 but since Ryan Cohen joined the board, the... 837 00:43:29,023 --> 00:43:30,357 This fucking guy. 838 00:43:30,358 --> 00:43:32,776 Got a 2 billion market cap. I mean, could it go pff? Yeah. 839 00:43:32,777 --> 00:43:35,738 But that's not what I'm seeing. That's not what I'm seeing, Kev. 840 00:43:36,823 --> 00:43:38,575 Kev? You there? 841 00:43:41,202 --> 00:43:42,328 Did he hang up? 842 00:43:43,037 --> 00:43:44,372 Yeah. 843 00:43:54,883 --> 00:43:56,758 Fuck, I think hold. 844 00:44:00,054 --> 00:44:02,764 - Girl, you gotta sell. - I'm not selling. 845 00:44:02,765 --> 00:44:03,974 How much are you up? 846 00:44:03,975 --> 00:44:05,976 58,000 and some change. 847 00:44:08,438 --> 00:44:10,856 Baby girl, what the fuck? 848 00:44:10,857 --> 00:44:12,983 You need to get out while you can. 849 00:44:12,984 --> 00:44:15,652 - Don't be an idiot. - You remember red headband guy. 850 00:44:15,653 --> 00:44:19,156 He's worth 11 million dollars. And he's not selling. 851 00:44:19,157 --> 00:44:21,199 - No fucking way. - Yes fucking way. 852 00:44:21,200 --> 00:44:23,828 This is what I'm telling you. Diamond hands. 853 00:44:24,996 --> 00:44:28,540 Diamond hands. You hold the line no matter what the market does. 854 00:44:28,541 --> 00:44:29,958 No matter what Wall Street says. 855 00:44:29,959 --> 00:44:32,002 What happens when everyone else sells first, 856 00:44:32,003 --> 00:44:34,755 and before you get out you've lost all your money? 857 00:44:34,756 --> 00:44:36,506 Are there any volunteers? 858 00:44:36,507 --> 00:44:38,383 - I'm... - Anyone? 859 00:44:38,384 --> 00:44:40,594 - We're gonna hold the line. - C'mon. 860 00:44:40,595 --> 00:44:42,722 - Someone has to go first. - Okay, yeah. I'll do it. 861 00:44:48,102 --> 00:44:49,645 Here we go everyone. 862 00:44:49,646 --> 00:44:52,648 The first Covid vaccine at Pittsburgh Presbyterian. 863 00:44:52,649 --> 00:44:54,107 Ah! 864 00:44:54,108 --> 00:44:55,567 Fuck! Fuck! 865 00:44:55,568 --> 00:44:59,572 Fuck! Guys, we need your help. What should we do? 866 00:45:00,823 --> 00:45:04,660 So listen, my girl bought in under 20 and now it is over 60. 867 00:45:04,661 --> 00:45:06,578 So like, should she sell? 868 00:45:06,579 --> 00:45:08,873 On the one hand, she has principles. 869 00:45:09,916 --> 00:45:13,293 On the other, she has 100k in student debt. So... 870 00:45:13,294 --> 00:45:16,046 One way you could think about the comparison between 871 00:45:16,047 --> 00:45:18,674 Marxism and Utilitarian tradition 872 00:45:18,675 --> 00:45:22,386 is that they both have a micro story and a macro story. 873 00:45:22,387 --> 00:45:24,763 When you think of Utilitarian tradition... 874 00:45:24,764 --> 00:45:29,185 The only thing that would convince her to sell is if Roaring Kitty sold. 875 00:45:30,395 --> 00:45:32,813 So... Where my pussy at? 876 00:45:32,814 --> 00:45:35,899 You have the micro story for the Pareto principle 877 00:45:35,900 --> 00:45:38,653 for how each individual action will go. 878 00:45:39,487 --> 00:45:40,737 But you also have a macro story. 879 00:45:40,738 --> 00:45:42,864 Where my pussy at? Where my pussy at? 880 00:45:42,865 --> 00:45:45,033 - Where my pussy at?! - Sorry. 881 00:45:45,034 --> 00:45:48,286 Where my pussy aaaaatttt?! 882 00:45:48,287 --> 00:45:49,830 I'm so sorry. 883 00:45:49,831 --> 00:45:53,208 Hey, hey, where my pussy at? Ha! 884 00:45:53,209 --> 00:45:56,087 - Where is my pussy at? - It's not in here. 885 00:46:17,025 --> 00:46:18,775 Whoa, 886 00:46:18,776 --> 00:46:21,362 wait, listen, hold on. 887 00:46:22,697 --> 00:46:26,366 "Future generations will look back and say 'Good men stood here, 888 00:46:26,367 --> 00:46:29,077 good men fought, and died on this ground... 889 00:46:29,078 --> 00:46:33,750 as they point to a TradingView daily chart of GME zoomed in on January.' 890 00:46:34,417 --> 00:46:36,084 Since the spawn of the stonkmarket, 891 00:46:36,085 --> 00:46:38,712 "two classes of people have been pitted against each other..." 892 00:46:38,713 --> 00:46:43,300 "Eternal enemies, forever forced and fated to combat: lions and hyenas." 893 00:46:43,301 --> 00:46:47,095 "These lions... these Wall Street hedge funds have it all. 894 00:46:47,096 --> 00:46:48,263 Billions of dollars, 895 00:46:48,264 --> 00:46:53,226 bail outs for reckless trades, these dirty fucking criminal bastards." 896 00:46:53,227 --> 00:46:57,981 Yup, these fucking motherfuckers. 897 00:46:57,982 --> 00:46:59,566 "And then there's us." 898 00:46:59,567 --> 00:47:04,238 The working man, the average Joe. What do we have? 899 00:47:04,822 --> 00:47:07,616 What the fuck do we have? 900 00:47:07,617 --> 00:47:09,701 "They literally call us 'dumb money.'" 901 00:47:09,702 --> 00:47:11,536 "These lions, these hedge fund guys," 902 00:47:11,537 --> 00:47:13,538 were born with silver spoons in their mouths. 903 00:47:13,539 --> 00:47:15,165 The top 1% of the 1%. 904 00:47:15,166 --> 00:47:18,835 "They have massive bank accounts, eat medium rare Grade A Wagyu steak." 905 00:47:18,836 --> 00:47:21,213 What the fuck is that? That sounds delicious. 906 00:47:21,214 --> 00:47:23,632 "With truffle shavings for lunch." That's fuck! 907 00:47:23,633 --> 00:47:25,467 "They frequent the finest strip clubs. 908 00:47:25,468 --> 00:47:27,636 They have blow and escorts on their yacht parties." 909 00:47:27,637 --> 00:47:29,554 Why do we hate these guys? 910 00:47:29,555 --> 00:47:31,598 "Then you know what they will tell these escorts?" 911 00:47:31,599 --> 00:47:33,767 - What's an escort? - Stop listening! 912 00:47:33,768 --> 00:47:38,064 "When the smoking hot blonde asks them, 'Like, how do you have so much money?'" 913 00:47:38,981 --> 00:47:43,820 "You know what they say? They say 'Ha, dumb money, babe. Dumb money.'" 914 00:47:46,030 --> 00:47:48,782 Something's burning. 915 00:47:48,783 --> 00:47:51,326 Oh... damn it. 916 00:47:51,327 --> 00:47:53,162 - Shit! - You said "shit". 917 00:48:02,004 --> 00:48:06,092 "Last, the GME trade is about class warfare. Plain and simple." 918 00:48:06,801 --> 00:48:10,053 We may be hyenas, yes. But guess what? 919 00:48:10,054 --> 00:48:13,391 "You put enough of us together, and we can destroy a lion." 920 00:48:14,559 --> 00:48:17,394 It's on, motherfuckers! 921 00:48:19,564 --> 00:48:21,898 Aw, we coming for y'all. 922 00:48:21,899 --> 00:48:23,817 Y'all better get ready. 923 00:48:23,818 --> 00:48:25,068 We fucking coming for you. 924 00:48:25,069 --> 00:48:27,780 That is some nerdy shit, man. 925 00:48:28,447 --> 00:48:31,117 My brother is a fucking nerd. 926 00:48:37,456 --> 00:48:39,500 Fuck! 927 00:48:45,089 --> 00:48:47,883 Counting down from 5 and then I'm coming back in there. 928 00:48:47,884 --> 00:48:49,926 I don't think you want that. 929 00:48:51,470 --> 00:48:52,470 5. 930 00:48:53,055 --> 00:48:54,806 - 4. - 3. 931 00:48:54,807 --> 00:48:56,057 2. 932 00:48:57,268 --> 00:48:58,643 Thank you. 933 00:48:58,644 --> 00:49:00,478 - How was your day? - Long. 934 00:49:00,479 --> 00:49:05,067 It's so hard to keep them focused on Zoom school. They're just not into it. 935 00:49:05,943 --> 00:49:07,569 How was your day? 936 00:49:07,570 --> 00:49:08,738 Good. 937 00:49:11,032 --> 00:49:13,491 You're not worried about the short squeeze thing? 938 00:49:13,492 --> 00:49:15,577 The dam'll break next week. 939 00:49:15,578 --> 00:49:18,163 A few of them will decide it's gone high enough, they'll cash out, 940 00:49:18,164 --> 00:49:21,249 the rest will follow, whole thing will come crashing down. 941 00:49:21,250 --> 00:49:24,420 I can't think of the last short squeeze that actually worked. 942 00:49:25,379 --> 00:49:26,714 Ackman and Herbalife. 943 00:49:27,298 --> 00:49:29,299 Before that... Piggly Wiggly? 944 00:49:29,300 --> 00:49:30,634 Piggly Wiggly. 945 00:49:30,635 --> 00:49:35,305 Yeah. 1923, a bear cartel was shorting the Piggly Wiggly grocery store. 946 00:49:35,306 --> 00:49:40,352 The founder, he takes out a loan for what would be $150 million today. 947 00:49:40,353 --> 00:49:42,812 He buys back almost all the stock, like 99% of the stock. 948 00:49:42,813 --> 00:49:45,148 The price of the stock goes up 50%. 949 00:49:45,149 --> 00:49:47,400 - How much is GameStop up? - Then, the exchange, 950 00:49:47,401 --> 00:49:49,277 they halt trading on the stock 951 00:49:49,278 --> 00:49:52,113 so the short sellers can cover their positions. 952 00:49:52,114 --> 00:49:53,782 Is that legal? 953 00:49:53,783 --> 00:49:56,535 The founder had to declare bankruptcy. So... 954 00:49:57,411 --> 00:49:58,912 it was all fine in the end. 955 00:49:58,913 --> 00:50:01,457 And you knew all that or you looked it up? 956 00:50:02,750 --> 00:50:04,710 Every fund manager knows that story. 957 00:50:08,798 --> 00:50:10,174 You looked it up. 958 00:50:12,009 --> 00:50:13,886 Double checked some numbers maybe. 959 00:50:23,271 --> 00:50:26,189 Oh, do you see what's going on at GME? 960 00:50:26,190 --> 00:50:28,483 - There's more of these idiots. - A lot more. 961 00:50:28,484 --> 00:50:32,404 - They won't hold much longer. - Oh, Gabe, honey, they're holding. 962 00:50:32,405 --> 00:50:34,489 It just crossed a hundred. 963 00:50:36,784 --> 00:50:38,368 Gabe? 964 00:50:38,369 --> 00:50:39,870 Where are you? 965 00:50:44,292 --> 00:50:46,293 You should probably dial in. 966 00:50:46,294 --> 00:50:47,919 Yeah, be on in one sec. 967 00:50:47,920 --> 00:50:50,630 GameStop, extraordinary volatility today. 968 00:50:50,631 --> 00:50:52,882 You know, we might want to make this the stock of the day. 969 00:50:52,883 --> 00:50:56,219 Now that it's gaining 103%. That is volatility. 970 00:50:56,220 --> 00:50:58,221 I will tell you, I've never seen anything like it. 971 00:50:58,222 --> 00:51:00,807 Um, I'm concerned about it deeply. 972 00:51:00,808 --> 00:51:03,101 I'm calling it the ultimate short squeeze. 973 00:51:03,102 --> 00:51:05,770 - How much money is being made... - Holy fucking shit. 974 00:51:05,771 --> 00:51:08,106 Now we're gonna talk about GameStop. Those shares... 975 00:51:08,107 --> 00:51:11,234 - nonstop earning about of 130% today. - Holy fucking shit! 976 00:51:11,235 --> 00:51:13,320 As bullish retail traders frenetically buy shares. 977 00:51:13,321 --> 00:51:14,238 Holy fucking shit! 978 00:51:14,239 --> 00:51:15,614 Yo, holy shit! 979 00:51:16,198 --> 00:51:17,991 - Shit balls. - Holy shit! 980 00:51:17,992 --> 00:51:19,701 You look at the chart for the month. 981 00:51:19,702 --> 00:51:22,330 - It's up 220%. - Oh, fuck! 982 00:51:22,913 --> 00:51:24,622 - Look there... It's crazy. - Everything okay? 983 00:51:24,623 --> 00:51:26,374 Holy fucking shit! 984 00:51:26,375 --> 00:51:27,584 Holy fucking shit! 985 00:51:27,585 --> 00:51:31,254 If you go short in some of these elaborate options trades, 986 00:51:31,255 --> 00:51:33,465 you can lose money to infinity. 987 00:51:33,466 --> 00:51:37,135 GameStop now at 123 and change, another record high. 988 00:51:37,136 --> 00:51:38,136 Holy fucking shit! 989 00:51:38,137 --> 00:51:40,430 Completely disconnected from the fundamentals. 990 00:51:40,431 --> 00:51:43,516 And this is very much being driven by retail investors. 991 00:51:43,517 --> 00:51:45,310 Many of them trading on Robinhood. 992 00:51:45,311 --> 00:51:48,188 When the music stops, somebody is gonna be left without a seat. 993 00:51:48,189 --> 00:51:49,898 This for casino money only. 994 00:51:49,899 --> 00:51:51,941 They're literally putting the game in GameStop. 995 00:51:51,942 --> 00:51:53,985 Is the craziest I think I've ever seen. 996 00:51:53,986 --> 00:51:57,822 True investors never heard of Reddit a few years ago. 997 00:51:57,823 --> 00:51:59,699 But for that to drive a short squeeze... 998 00:51:59,700 --> 00:52:01,159 It is Wall Street Bets. 999 00:52:01,160 --> 00:52:03,912 It's worth going to the site because it is incredibly compelling. 1000 00:52:03,913 --> 00:52:06,748 You may think it's froth, but they are using arguments 1001 00:52:06,749 --> 00:52:08,792 that they think hold up under scrutiny. 1002 00:52:08,793 --> 00:52:11,294 - I just like the stock! - I can't look. 1003 00:52:11,295 --> 00:52:13,505 - I can't look. I can't look. - It's up another 4%. 1004 00:52:13,506 --> 00:52:15,882 I'm gonna have a fucking heart attack. Should we sell? 1005 00:52:15,883 --> 00:52:17,759 And betray your boyfriend? Absolutely not. No. 1006 00:52:17,760 --> 00:52:19,761 - The stock is up 581%. - Maybe. 1007 00:52:19,762 --> 00:52:21,930 They are being very specific: 1008 00:52:21,931 --> 00:52:23,223 - To break the shorts. - Yes. 1009 00:52:23,224 --> 00:52:25,350 I mean, what's going on in GameStop right now 1010 00:52:25,351 --> 00:52:27,185 conceivably could take a couple of firms out. 1011 00:52:27,186 --> 00:52:30,021 Hedge funds if they were stupid enough to be short. 1012 00:52:30,022 --> 00:52:32,066 Babe, how much did we make today? 1013 00:52:33,526 --> 00:52:34,526 5 million. 1014 00:52:34,985 --> 00:52:36,486 And yesterday? 1015 00:52:36,487 --> 00:52:37,655 4 million. 1016 00:52:40,199 --> 00:52:41,199 Babe... 1017 00:52:41,742 --> 00:52:42,785 Yeah? 1018 00:52:43,744 --> 00:52:46,454 We're, like, really fucking rich. 1019 00:52:53,129 --> 00:52:54,880 How much did we lose today? 1020 00:52:57,425 --> 00:52:58,425 A billion. 1021 00:53:00,928 --> 00:53:01,928 And yesterday? 1022 00:53:03,472 --> 00:53:04,473 A billion. 1023 00:53:09,354 --> 00:53:12,147 Some news to bring you right now is that Melvin Capital Management, 1024 00:53:12,148 --> 00:53:16,276 this is the hedge fund that had shorted this company, 1025 00:53:16,277 --> 00:53:21,948 that had effectively been attacked by an army of investors trying to push up 1026 00:53:21,949 --> 00:53:24,784 and press up the stock of GameStop. 1027 00:53:24,785 --> 00:53:27,370 They've taken a rather huge loss... 1028 00:53:27,371 --> 00:53:30,291 Sorry, if you could just put your head up for a sec? 1029 00:53:30,958 --> 00:53:31,958 Thanks. 1030 00:53:32,376 --> 00:53:33,794 How long've you been down here? 1031 00:53:34,295 --> 00:53:35,295 A few months. 1032 00:53:36,589 --> 00:53:37,923 You like the weather? 1033 00:53:40,092 --> 00:53:43,553 Heat is nice. The humidity not as much. 1034 00:53:43,554 --> 00:53:45,388 I can see that. 1035 00:53:45,389 --> 00:53:48,976 - Hm. - All right, I think you're good to go. 1036 00:54:14,668 --> 00:54:16,586 - Hey! - Hey, man. 1037 00:54:16,587 --> 00:54:18,421 - Hi. - It's good to connect. 1038 00:54:18,422 --> 00:54:19,631 You too. Great to be here. 1039 00:54:19,632 --> 00:54:20,798 - Excited. - I'm glad you are. 1040 00:54:20,799 --> 00:54:22,592 Listen, I want to get right to it. 1041 00:54:22,593 --> 00:54:25,471 From what I'm hearing, you guys are bankrupt. 1042 00:54:27,223 --> 00:54:28,723 No! What? No. 1043 00:54:28,724 --> 00:54:31,809 'Cause the word on the street is that you're drowning. 1044 00:54:31,810 --> 00:54:34,062 No, that's... That's crazy. 1045 00:54:34,063 --> 00:54:36,565 - We're doing great. - You're on the record with that? 1046 00:54:37,149 --> 00:54:38,025 Obviously. 1047 00:54:38,026 --> 00:54:41,277 All right, man. Well, then, we're gonna get the live feed up right now, 1048 00:54:41,278 --> 00:54:43,947 and then we're gonna get to you right after this next advertising break. 1049 00:54:43,948 --> 00:54:45,783 Perfect, great. Yes, can't wait. 1050 00:54:50,120 --> 00:54:52,121 All right, one more spot and then you're gonna be up. 1051 00:54:52,122 --> 00:54:55,208 I really do think this is the right time for you to communicate. 1052 00:54:55,209 --> 00:54:57,293 - Great, yes. Agreed. - Great. We're gonna do it. 1053 00:54:57,294 --> 00:54:59,797 Address it all head on. It's gonna be good. 1054 00:55:01,882 --> 00:55:04,050 - No. - What? Gabe, we're on in 10 seconds. 1055 00:55:04,051 --> 00:55:05,343 I can't do this. I'm sorry. 1056 00:55:05,344 --> 00:55:06,262 Gabe, seriously. 1057 00:55:06,263 --> 00:55:08,012 - Bye, I'm terribly sorry. - Seriously, c'mon. 1058 00:55:08,013 --> 00:55:10,653 - Good to see you. The pleasure's here. - We're going on right now. 1059 00:55:16,605 --> 00:55:17,605 Babe, 1060 00:55:18,607 --> 00:55:19,775 what's the damage? 1061 00:55:52,099 --> 00:55:53,391 Let me guess, you need cash. 1062 00:55:53,392 --> 00:55:55,435 Didn't call Ken first, did you? 1063 00:55:55,436 --> 00:55:57,104 He had Phillips reach out. 1064 00:55:57,605 --> 00:55:58,981 How much did he offer? 1065 00:56:00,482 --> 00:56:01,941 I haven't called him back yet. 1066 00:56:01,942 --> 00:56:03,401 Well, how much do you need? 1067 00:56:03,402 --> 00:56:05,820 You know what? Don't answer that. The number doesn't matter. 1068 00:56:05,821 --> 00:56:07,405 Whatever it is, I'd love to buy in. 1069 00:56:07,406 --> 00:56:09,490 Tell Ken to fill in the rest. 1070 00:56:09,491 --> 00:56:10,701 Prick. 1071 00:56:16,749 --> 00:56:17,790 - Hey, Ken. - Hey. 1072 00:56:17,791 --> 00:56:20,919 Hi, um... So, I might need... 1073 00:56:21,837 --> 00:56:22,837 Uh... 1074 00:56:23,672 --> 00:56:24,672 A new investor. 1075 00:56:24,673 --> 00:56:25,965 Consider it done. 1076 00:56:25,966 --> 00:56:27,967 Just keep moving forward. 1077 00:56:27,968 --> 00:56:30,595 Don't think about what Grandpa Melvin used to say. 1078 00:56:30,596 --> 00:56:31,930 Prick. 1079 00:56:33,807 --> 00:56:35,767 - Thank you. - Both Citadel 1080 00:56:35,768 --> 00:56:39,479 - and Point72 have infused - Poor guy. 1081 00:56:39,480 --> 00:56:42,982 $3 billion into Melvin Capital 1082 00:56:42,983 --> 00:56:45,860 - to try to shore up... - Another goddamn bailout. 1083 00:56:45,861 --> 00:56:47,570 Can you believe this crap? 1084 00:56:47,571 --> 00:56:48,780 Nobody bailed me out 1085 00:56:48,781 --> 00:56:51,783 when Richard left me alone with two toddlers, a mortgage, 1086 00:56:51,784 --> 00:56:53,076 a shit car that never works. 1087 00:56:53,077 --> 00:56:54,827 You can say "shit" but we can't? 1088 00:56:54,828 --> 00:56:56,871 It's just so damn unfair and you know it. 1089 00:56:56,872 --> 00:57:00,875 All we've done for the last year is work our asses off helping people, 1090 00:57:00,876 --> 00:57:03,586 and all we've gotten is one $600 check. 1091 00:57:03,587 --> 00:57:06,631 This idiot effs up just about as bad as anyone could eff, 1092 00:57:06,632 --> 00:57:09,676 and his friends come running in with $3 billion. 1093 00:57:09,677 --> 00:57:11,928 That's why I keep telling you: you're never gonna win. 1094 00:57:11,929 --> 00:57:14,514 Just take the money and do something nice. Pay off your mortgage. 1095 00:57:14,515 --> 00:57:16,058 Get that one braces. 1096 00:57:16,642 --> 00:57:18,143 Look who's still holding. 1097 00:57:19,603 --> 00:57:21,604 If he's in, I'm in. 1098 00:57:21,605 --> 00:57:23,564 Yeah, he's still gonna need braces. 1099 00:57:23,565 --> 00:57:24,649 Your teeth are perfect. 1100 00:57:24,650 --> 00:57:27,902 So what? The stock's up $150. How much higher is it gonna go? 1101 00:57:27,903 --> 00:57:30,196 We control the price now. Not Wall Street. 1102 00:57:30,197 --> 00:57:31,698 And no one on there is selling. 1103 00:57:31,699 --> 00:57:32,740 Shoes. 1104 00:57:32,741 --> 00:57:34,951 - Ugh. You're all so delusional. - Maybe. 1105 00:57:34,952 --> 00:57:37,370 But look at what we managed to do with these hedge funds. 1106 00:57:37,371 --> 00:57:38,996 If we keep driving up the price, 1107 00:57:38,997 --> 00:57:42,166 maybe we'll scare more of these guys into closing out their shorts, 1108 00:57:42,167 --> 00:57:44,252 and then all of that bailout money... 1109 00:57:44,253 --> 00:57:45,670 - Wait... - becomes ours. 1110 00:57:45,671 --> 00:57:46,671 Your screen name... 1111 00:57:47,381 --> 00:57:48,924 is Stonkmom? 1112 00:57:53,345 --> 00:57:54,345 - Hey! - Help your mother. 1113 00:57:54,346 --> 00:57:56,848 - Why me and not Keith? - Just shut up and do it, okay? 1114 00:57:56,849 --> 00:57:59,058 - Kev, take the potatoes. - 'Cause you're rich now? 1115 00:57:59,059 --> 00:58:01,144 Mr. 23 million on paper but I won't sell. 1116 00:58:01,145 --> 00:58:03,397 - Kevin. - Loser says what? 1117 00:58:04,398 --> 00:58:06,859 - What? - Kevin, let Keith tell them. 1118 00:58:10,070 --> 00:58:11,070 Tell us what? 1119 00:58:12,573 --> 00:58:15,283 Oh, uh... I was waiting to tell you in person. 1120 00:58:15,284 --> 00:58:18,411 But the, uh, stock we bet on, GameStop, is up. 1121 00:58:18,412 --> 00:58:19,580 Ah, good. 1122 00:58:20,706 --> 00:58:23,167 - How much up? - He's up 23 million, Pop. 1123 00:58:23,751 --> 00:58:24,751 You're an asshole. 1124 00:58:24,752 --> 00:58:27,295 - Don't kid us. - Uh, it's real. 1125 00:58:27,296 --> 00:58:29,965 Yeah, it's real. And he's refusing to sell. 1126 00:58:31,842 --> 00:58:32,885 What is going on? 1127 00:58:33,927 --> 00:58:35,261 - You're pulling our leg. - No. 1128 00:58:35,262 --> 00:58:37,180 Your son's a huge Internet celebrity now. 1129 00:58:37,181 --> 00:58:40,016 Millions of people including "Stonkmom" thinks he's some like, 1130 00:58:40,017 --> 00:58:42,185 - I don't know, investment genius. - No, he is a genius. 1131 00:58:42,186 --> 00:58:43,394 No, he's not. 1132 00:58:43,395 --> 00:58:45,147 You're up 23 million? 1133 00:58:46,148 --> 00:58:47,566 And you're not selling. 1134 00:58:49,193 --> 00:58:50,526 Jesus, Mary and Joseph. 1135 00:58:50,527 --> 00:58:52,028 What the fuck is wrong with you? 1136 00:58:52,029 --> 00:58:54,363 Do you even know how much $23 million is? 1137 00:58:54,364 --> 00:58:56,657 And you're just gonna let it ride? What's the matter with you? 1138 00:58:56,658 --> 00:58:58,868 - I know what I'm doing, Dad. - But why aren't you selling? 1139 00:58:58,869 --> 00:59:00,787 What, wait! Is this illegal? Are you in trouble? 1140 00:59:00,788 --> 00:59:01,954 No. No, he's not in trouble. 1141 00:59:01,955 --> 00:59:03,039 - It's totally legal. - Yeah. 1142 00:59:03,040 --> 00:59:04,832 He's posting his balance sheet on the Internet. 1143 00:59:04,833 --> 00:59:06,000 - What? - Hedge fund managers, 1144 00:59:06,001 --> 00:59:08,461 they go on CNBC all the time to pump up the stock. 1145 00:59:08,462 --> 00:59:10,922 All I do is post my balance sheet on Wall Street Bets 1146 00:59:10,923 --> 00:59:14,175 - after market close. - You post your balance sheet? 1147 00:59:14,176 --> 00:59:15,343 Yeah, the same idiot 1148 00:59:15,344 --> 00:59:18,137 who left a fresh pair of Nikes out on the bleachers for just anyone to take. 1149 00:59:18,138 --> 00:59:19,305 So you admit they were stolen! 1150 00:59:19,306 --> 00:59:20,932 - We gotta talk about this. - You're a fuckin' moron. 1151 00:59:20,933 --> 00:59:22,391 - Least I won. - What's the point of winning 1152 00:59:22,392 --> 00:59:23,726 if you let some dipshit steal the prize? 1153 00:59:23,727 --> 00:59:25,269 You would've broke a four if you had the Zooms. 1154 00:59:25,270 --> 00:59:26,771 A four minute mile isn't everything, Kevin. 1155 00:59:26,772 --> 00:59:28,648 Maybe we should get in touch with Briggsy. 1156 00:59:28,649 --> 00:59:30,650 - You know, he works in finance. - Yes. 1157 00:59:30,651 --> 00:59:32,860 You think Briggsy knows more about this than Keith does? 1158 00:59:32,861 --> 00:59:34,904 Well, can you talk about why you're putting your stocks 1159 00:59:34,905 --> 00:59:37,156 - in the Wall Street Journal? - Wall Street Bets. 1160 00:59:37,157 --> 00:59:38,741 What if someone tries to rob you? Kidnap the baby? 1161 00:59:38,742 --> 00:59:39,992 No one's gonna kidnap the baby. 1162 00:59:39,993 --> 00:59:41,869 - Nobody wants that baby, Mom. - I'm just saying, 1163 00:59:41,870 --> 00:59:43,162 that if we're gonna talk to somebody, 1164 00:59:43,163 --> 00:59:44,872 - you need to talk to Briggsy. - Yes, honey. 1165 00:59:44,873 --> 00:59:46,458 - This is the point... - Enough! 1166 00:59:47,543 --> 00:59:49,126 You guys, Keith has literally 1167 00:59:49,127 --> 00:59:51,420 poured his heart and his soul into this for the past year. 1168 00:59:51,421 --> 00:59:52,798 He knows what he's doing. 1169 00:59:58,554 --> 01:00:01,056 I know it's been a tough time, Elaine. 1170 01:00:08,981 --> 01:00:10,065 You should still sell. 1171 01:00:12,484 --> 01:00:13,652 Think you should sell. 1172 01:00:17,489 --> 01:00:19,782 And just fuck the principle of the whole thing? 1173 01:00:19,783 --> 01:00:21,742 I don't like it any more than you do. 1174 01:00:37,092 --> 01:00:38,551 You really don't think that he's fucking selling? 1175 01:00:38,552 --> 01:00:39,552 No! 1176 01:00:39,970 --> 01:00:40,970 Ladies. 1177 01:00:42,347 --> 01:00:43,347 Masks. 1178 01:00:46,727 --> 01:00:50,104 Kids are with their father for a few days. So, I'm going to Florida. 1179 01:00:50,105 --> 01:00:52,857 You finally fucking sold. Hallefuckin-lujah. 1180 01:00:52,858 --> 01:00:54,984 No, I'm putting it on my Visa. 1181 01:00:54,985 --> 01:00:56,068 You shitting me? 1182 01:00:56,069 --> 01:00:58,237 You're worth hundreds of thousands of dollars in stock, 1183 01:00:58,238 --> 01:00:59,864 and you're amassing credit card debt. 1184 01:00:59,865 --> 01:01:01,866 You really are out of your mind. 1185 01:01:01,867 --> 01:01:05,870 No, babe, I'm all in. Diamond hand. 1186 01:01:05,871 --> 01:01:07,955 Did you know that Gabe Plotkin gave an interview? 1187 01:01:07,956 --> 01:01:10,499 He's been getting death threats, anti-Semitic messages 1188 01:01:10,500 --> 01:01:12,835 - from these WSB guys. - It was ten comments. 1189 01:01:12,836 --> 01:01:15,755 There's always bad apples. And the moderators deleted it right away. 1190 01:01:15,756 --> 01:01:17,840 You're just gonna ride this thing till zero? 1191 01:01:17,841 --> 01:01:20,051 No. I'm buying call options. 1192 01:01:20,052 --> 01:01:23,597 - That could go to 600 by tomorrow. - Your kid is never getting braces. 1193 01:01:31,605 --> 01:01:34,148 There's 8 million people in there and they're all holding. 1194 01:01:34,149 --> 01:01:35,274 It's only going to go up. 1195 01:01:35,275 --> 01:01:36,817 It's a joke, Marcos. 1196 01:01:36,818 --> 01:01:38,862 But you're treating it like it's real life. 1197 01:01:39,738 --> 01:01:40,738 Pops. 1198 01:01:42,783 --> 01:01:43,783 Look. 1199 01:01:44,660 --> 01:01:47,078 - This is real. Hold it. Look. - Hey. 1200 01:01:47,079 --> 01:01:48,079 Aw, man. 1201 01:01:49,706 --> 01:01:51,415 8 million people is real. 1202 01:01:51,416 --> 01:01:53,085 H-O-D-L. 1203 01:01:53,794 --> 01:01:57,254 8 million don't even know how to spell "hold." 1204 01:01:57,255 --> 01:01:58,173 It's a joke. 1205 01:01:58,174 --> 01:02:01,014 - A corny joke. - It's not funny. 1206 01:02:04,721 --> 01:02:05,721 Mom, 1207 01:02:06,890 --> 01:02:07,932 look. 1208 01:02:07,933 --> 01:02:10,559 I got $175,000 in stock right now. 1209 01:02:10,560 --> 01:02:11,727 What? 1210 01:02:11,728 --> 01:02:12,688 Like serious money, 1211 01:02:12,689 --> 01:02:15,773 like I could get you a house and get you up out of here, kind of money. 1212 01:02:15,774 --> 01:02:16,941 Baby. 1213 01:02:16,942 --> 01:02:19,360 Where did you get the money to buy this? 1214 01:02:19,361 --> 01:02:20,444 Uh-huh. 1215 01:02:20,445 --> 01:02:23,322 I bought call options, for cheap. 1216 01:02:23,323 --> 01:02:26,409 - And they hit. - So now you're gonna sell? 1217 01:02:26,410 --> 01:02:27,828 Nah. No, I buy more. 1218 01:02:28,662 --> 01:02:30,496 At this price!? 1219 01:02:30,497 --> 01:02:32,540 When they hit, I'm gonna buy you a mansion. 1220 01:02:32,541 --> 01:02:33,624 It's gonna be crazy. 1221 01:02:33,625 --> 01:02:36,420 My son, I don't need a mansion. 1222 01:02:38,338 --> 01:02:39,715 Papi. 1223 01:02:40,090 --> 01:02:41,258 Be careful. 1224 01:02:41,758 --> 01:02:44,135 Don't get addicted to this, my son. 1225 01:02:44,136 --> 01:02:45,846 This can be like a drug. 1226 01:02:51,893 --> 01:02:56,647 Some breaking news right now on what has turned into the soap opera 1227 01:02:56,648 --> 01:03:00,985 and, uh, saga of the markets right now. And that is the story of GameStop. 1228 01:03:00,986 --> 01:03:03,779 A month ago today, it was trading at about 20 bucks per share. 1229 01:03:03,780 --> 01:03:05,948 Two days ago, it was under $80. 1230 01:03:05,949 --> 01:03:09,368 Today, nearly $350 a share. 1231 01:03:09,369 --> 01:03:13,414 The GameStop stock frenzy even now has the attention of the White House. 1232 01:03:13,415 --> 01:03:15,833 Our economic team including Secretary Yellen and others 1233 01:03:15,834 --> 01:03:17,501 are monitoring the situation. 1234 01:03:17,502 --> 01:03:19,920 You're witnessing the French Revolution of finance. 1235 01:03:19,921 --> 01:03:21,338 There is a rebellion aspect to it. 1236 01:03:21,339 --> 01:03:23,424 There is an anti-establishment aspect to it. 1237 01:03:23,425 --> 01:03:25,634 I don't know if Wall Street's ever seen it like this before. 1238 01:03:25,635 --> 01:03:27,219 - No. It's generational. - We never have. 1239 01:03:27,220 --> 01:03:28,929 It's like generational injustices. 1240 01:03:28,930 --> 01:03:32,391 This is like little poor guys vs. Rich guys. 1241 01:03:32,392 --> 01:03:35,269 And poor guys are winning right now. 1242 01:03:35,270 --> 01:03:37,688 Fucking hold! If you're new here and you're trying to make a profit, 1243 01:03:37,689 --> 01:03:39,690 - fuck off! - Stop what you're doing, and listen up. 1244 01:03:39,691 --> 01:03:42,068 I own GameStop on Robinhood and I am not selling. 1245 01:03:42,069 --> 01:03:45,780 Hold. All you need to do is hold. Keep fucking holding. 1246 01:03:45,781 --> 01:03:49,492 Soon the Tendieman comes to send our rocket to the sun. 1247 01:03:49,493 --> 01:03:52,745 See this right here is the human being who's largely responsible 1248 01:03:52,746 --> 01:03:54,622 for all this GameStop stuff. 1249 01:03:54,623 --> 01:04:01,003 Just a pure specimen. A God-like undefeatable creature. 1250 01:04:01,004 --> 01:04:04,632 This is what excellence looks like. 1251 01:04:04,633 --> 01:04:05,758 I just like the stock. 1252 01:04:05,759 --> 01:04:09,387 Yesterday he posted this, that he's in profit, wait for it... 1253 01:04:10,388 --> 01:04:12,933 47 million. 1254 01:04:14,267 --> 01:04:16,644 What the fuck is happening? 1255 01:04:16,645 --> 01:04:20,189 What the fuck? 1256 01:04:20,190 --> 01:04:21,732 Hey, did you try a different browser? 1257 01:04:21,733 --> 01:04:24,027 - I plugged the browser. - Shit, we're fucked. 1258 01:04:25,195 --> 01:04:26,362 Bro, what the fuck? 1259 01:04:26,363 --> 01:04:28,563 - What the fuck, dude? - I told you this shit is rigged. 1260 01:04:29,908 --> 01:04:31,034 What the fuck is going on? 1261 01:04:33,578 --> 01:04:34,788 I can't get it to load. 1262 01:04:41,253 --> 01:04:42,253 Fuck! 1263 01:04:46,466 --> 01:04:47,466 What? 1264 01:04:50,470 --> 01:04:52,264 They shut down Wall Street Bets. 1265 01:04:52,764 --> 01:04:55,766 - What? - "Hateful and discriminatory content." 1266 01:04:55,767 --> 01:04:57,477 That stuff has always been on there. 1267 01:05:02,983 --> 01:05:04,316 That's weird. 1268 01:05:04,317 --> 01:05:05,318 No? 1269 01:05:06,361 --> 01:05:09,697 I mean, it's like they're trying to stop people from talking to each other. 1270 01:05:17,038 --> 01:05:18,205 Babe, are you gonna get that? 1271 01:05:18,206 --> 01:05:19,124 Yes. 1272 01:05:19,124 --> 01:05:20,124 Oh. 1273 01:05:22,169 --> 01:05:23,169 Hello? 1274 01:05:24,671 --> 01:05:27,632 Ah, yes, I am... 1275 01:05:28,133 --> 01:05:31,386 I am the Roaring Kitty and Deep F-ing Value. 1276 01:05:33,180 --> 01:05:36,600 Ah, no, but nobody ever asked me. 1277 01:05:38,685 --> 01:05:40,019 Oh, okay. 1278 01:05:40,020 --> 01:05:42,813 Sir, I just want to say how grateful I am for this job 1279 01:05:42,814 --> 01:05:44,732 and how much it means to me and my family. 1280 01:05:44,733 --> 01:05:47,152 I would never let a hobby jeopardize... 1281 01:05:48,862 --> 01:05:50,822 Okay. I understand. 1282 01:05:56,786 --> 01:05:59,246 - Yeah? - It's MassMutual. They're... 1283 01:05:59,247 --> 01:06:02,666 getting calls from reporters "concerned" about my "outside activities." 1284 01:06:02,667 --> 01:06:04,543 Was all this against the rules? 1285 01:06:04,544 --> 01:06:07,463 I wasn't...? Maybe now it is... 1286 01:06:07,464 --> 01:06:08,464 Okay. 1287 01:06:11,426 --> 01:06:12,969 Well, what was that call? 1288 01:06:14,596 --> 01:06:16,055 - Keith? - It's okay. 1289 01:06:16,056 --> 01:06:17,264 What, are you going to lose your job? 1290 01:06:17,265 --> 01:06:18,265 - What? - It's fine. 1291 01:06:19,309 --> 01:06:21,143 - They gave me a choice. - Between what? 1292 01:06:21,144 --> 01:06:22,937 Between your job and Roaring Kitty? 1293 01:06:22,938 --> 01:06:24,855 Uh... 1294 01:06:24,856 --> 01:06:27,733 - Resign or I'm fired. - That's what he just said? 1295 01:06:29,027 --> 01:06:30,027 I got it. 1296 01:06:32,239 --> 01:06:33,364 Fuck it, Wall Street Bets is down, 1297 01:06:33,365 --> 01:06:34,282 I can't see Roaring Kitty's balance sheet. 1298 01:06:34,282 --> 01:06:35,200 Oh fuck. 1299 01:06:35,201 --> 01:06:36,451 I don't know what to do. 1300 01:06:36,952 --> 01:06:38,035 This could be the sell-off. 1301 01:06:38,036 --> 01:06:40,079 I really don't wanna do that. 1302 01:06:40,080 --> 01:06:43,250 Well, me neither. But you can't let it go to zero. 1303 01:06:44,125 --> 01:06:46,460 It's 150 grand. You need that money. 1304 01:06:46,461 --> 01:06:48,922 And nobody is gonna hold if they can't see what he's doing. 1305 01:06:51,633 --> 01:06:53,093 Close your eyes and count to three. 1306 01:06:53,802 --> 01:06:54,802 One. 1307 01:06:56,638 --> 01:06:57,638 - Two. - Two. 1308 01:06:58,765 --> 01:06:59,766 - Three. - Three. 1309 01:07:03,436 --> 01:07:05,479 Your phone's ringing. 1310 01:07:05,480 --> 01:07:07,690 This is the sound of the world. 1311 01:07:07,691 --> 01:07:09,400 Your phone is ringing! 1312 01:07:09,401 --> 01:07:13,530 Oh, Robinhood. Yeah. It's an app. 1313 01:07:14,114 --> 01:07:15,406 It's on the phone. 1314 01:07:15,407 --> 01:07:17,784 - Yeah, no, your phone is ringing. - Oh. 1315 01:07:18,827 --> 01:07:21,120 Yes... 1316 01:07:21,121 --> 01:07:23,998 ♪ I'm a boss in a fucking dress... ♪ 1317 01:07:23,999 --> 01:07:25,917 Slow down, Norm, what did you say? 1318 01:07:26,418 --> 01:07:30,838 The NSCC just sent us a file, they want a deposit of 3 billion 1319 01:07:30,839 --> 01:07:32,549 to clear all the trades coming in. 1320 01:07:33,258 --> 01:07:34,550 Sorry. 1321 01:07:34,551 --> 01:07:35,634 Wait, who? 1322 01:07:35,635 --> 01:07:41,181 They're a subsidiary of the DTCC. And they're requesting 3 billion. 1323 01:07:41,182 --> 01:07:46,146 Ah... Okay. Sorry, it's a little loud in here. I thought you just said 3 billion. 1324 01:07:46,646 --> 01:07:47,689 I did! 1325 01:07:48,982 --> 01:07:51,692 - But we don't have 3 billion, Norm. - That's correct. 1326 01:07:51,693 --> 01:07:54,738 We've only ever raised 2 billion in the history of the company. 1327 01:07:55,613 --> 01:07:57,573 Holy fuck! What if we don't pay? 1328 01:07:57,574 --> 01:07:59,034 They shut us down. 1329 01:07:59,993 --> 01:08:02,995 The IPO, like, everything... poof. 1330 01:08:02,996 --> 01:08:05,874 Gretchen, Dan and I are going to jump on a call with Citadel at 9. 1331 01:08:09,711 --> 01:08:12,755 Maybe this would be a good time for me to chat with Ken Griffin. 1332 01:08:12,756 --> 01:08:15,467 Sure. We'll mention that. 1333 01:08:17,052 --> 01:08:18,344 I can't sleep. 1334 01:08:18,345 --> 01:08:19,387 Me neither. 1335 01:08:19,888 --> 01:08:21,181 I just feel sick! 1336 01:08:22,182 --> 01:08:23,767 We'll buy it back first thing. 1337 01:08:25,602 --> 01:08:27,020 Please shut up. 1338 01:08:41,868 --> 01:08:43,328 What the fuck. 1339 01:08:46,414 --> 01:08:47,540 Oh! What the fuck! 1340 01:08:48,583 --> 01:08:50,668 - What the fuck! - Okay, let me try. 1341 01:08:51,753 --> 01:08:53,129 Is it frozen? 1342 01:08:58,385 --> 01:09:00,178 They cut off the buy option. 1343 01:09:00,887 --> 01:09:02,429 What?! That's fucking criminal. 1344 01:09:02,430 --> 01:09:03,722 I can't hear you, Baiju! 1345 01:09:03,723 --> 01:09:05,099 What the fuck did you do? 1346 01:09:05,100 --> 01:09:06,809 - Calm down. - Me calm down? 1347 01:09:06,810 --> 01:09:08,394 You shut down trading on GameStop? 1348 01:09:08,395 --> 01:09:09,561 Not all trading. 1349 01:09:09,562 --> 01:09:10,729 Norm worked it out. 1350 01:09:10,730 --> 01:09:14,274 The DTCC agreed to lower the deposit to 700 million 1351 01:09:14,275 --> 01:09:16,443 if we shut off buying, and that's what I did. 1352 01:09:16,444 --> 01:09:18,487 The Depository Trade Commission? 1353 01:09:18,488 --> 01:09:20,739 They're like one degree away from Ken Griffin. 1354 01:09:20,740 --> 01:09:22,950 One more time, Baiju. 1355 01:09:22,951 --> 01:09:23,952 Butt boys! 1356 01:09:25,954 --> 01:09:28,080 - What? - It's not going to be okay. 1357 01:09:28,081 --> 01:09:29,331 You need to fix this... 1358 01:09:29,332 --> 01:09:30,959 Shh. I know, it's okay. 1359 01:09:31,835 --> 01:09:33,253 I did fix it, Baiju. 1360 01:09:35,463 --> 01:09:38,173 We've been watching shares of GameStop all day long 1361 01:09:38,174 --> 01:09:41,844 after hitting a staggering high of $483. 1362 01:09:41,845 --> 01:09:44,805 The shares are now down to about 140. 1363 01:09:44,806 --> 01:09:47,766 Now, the best we can tell is the Robinhood app 1364 01:09:47,767 --> 01:09:52,396 that seems to have triggered what really has become a panic sell-off in this name. 1365 01:09:52,397 --> 01:09:57,025 And so if you're a retail investor or a Reddit user and you've held, 1366 01:09:57,026 --> 01:09:59,779 well, you are feeling some serious pain right now. 1367 01:10:00,989 --> 01:10:02,157 Oh God. 1368 01:10:03,616 --> 01:10:04,451 Fuck. 1369 01:10:04,452 --> 01:10:06,410 Now the criticism centered on Robinhood 1370 01:10:06,411 --> 01:10:10,372 for abandoning their followers here in favor of helping those who had shorted 1371 01:10:10,373 --> 01:10:11,915 all these stocks in the first place. 1372 01:10:11,916 --> 01:10:14,376 I don't particularly like the move on Robinhood today. 1373 01:10:14,377 --> 01:10:16,170 I'm talking to people this morning that say, 1374 01:10:16,171 --> 01:10:18,046 "Okay, that is anti-capitalism. 1375 01:10:18,047 --> 01:10:19,548 - You can't do that." - Fuck you, Robinhood! 1376 01:10:19,549 --> 01:10:24,261 There's been some controversy about Citadel and some vague accusations 1377 01:10:24,262 --> 01:10:27,431 that somehow Citadel may have been involved in Robinhood's decision, Wolf, 1378 01:10:27,432 --> 01:10:30,893 to stop or restrict trading in GameStop and other shorts... 1379 01:10:30,894 --> 01:10:31,935 Who is it from? 1380 01:10:31,936 --> 01:10:34,731 The Tendieman...? 1381 01:10:36,608 --> 01:10:37,525 Come back inside. 1382 01:10:37,526 --> 01:10:39,068 Diamond fucking hands! 1383 01:10:41,237 --> 01:10:45,407 We all know how I feel about him. I think he's a rat, a liar. 1384 01:10:45,408 --> 01:10:50,246 Okay, Vlad, you know everybody here who's watching us hates your guts, right? 1385 01:10:51,247 --> 01:10:54,750 Thank you, Dave, that's, uh... that's what I hear. 1386 01:10:54,751 --> 01:10:58,670 But I'm a really big fan of your show and hopefully I can answer 1387 01:10:58,671 --> 01:11:00,797 - some of your questions. - Vlad, can you hear us? 1388 01:11:00,798 --> 01:11:03,800 - Vlad the stock impaler. - Yes, I'm here... Hi. 1389 01:11:03,801 --> 01:11:05,928 Spill the beans, man, what happened last week? 1390 01:11:05,929 --> 01:11:08,722 Why couldn't people buy GameStop shares? 1391 01:11:08,723 --> 01:11:10,641 The people demand an answer. 1392 01:11:10,642 --> 01:11:14,186 To give you some background, I'm chief executive of Robinhood... 1393 01:11:14,187 --> 01:11:15,521 - Robbing executive. - Yeah, we know that. 1394 01:11:15,522 --> 01:11:17,189 And I just want to say, 1395 01:11:17,190 --> 01:11:19,858 - we had no liquidity problem. - Well, did something maybe shady 1396 01:11:19,859 --> 01:11:21,693 go down here? Seems weird that you'd get a sudden 1397 01:11:21,694 --> 01:11:23,820 - 10 billion dollar demand... You know. - Three, 3 billion... 1398 01:11:23,821 --> 01:11:26,031 - Okay, but 3 billion just suddenly, - Yeah. 1399 01:11:26,032 --> 01:11:28,116 - Out of nowhere and... - Well, I wouldn't impute 1400 01:11:28,117 --> 01:11:31,245 any shadiness to any of this, um... 1401 01:11:31,246 --> 01:11:33,455 I don't have the full context, uh, 1402 01:11:33,456 --> 01:11:35,958 as to what was going on with the NSCC to, 1403 01:11:35,959 --> 01:11:39,002 to, uh, make these calculations. 1404 01:11:39,003 --> 01:11:41,463 To what degree are you beholden to Citadel? 1405 01:11:41,464 --> 01:11:44,841 I mean, like, basically, if Citadel is unhappy, then what happens? 1406 01:11:44,842 --> 01:11:47,803 - It was a hard temperance. - Is anyone holding you hostage right now? 1407 01:11:47,804 --> 01:11:48,721 Uh, no. 1408 01:11:48,722 --> 01:11:52,599 There's just no rational explanation on why they would do what they did 1409 01:11:52,600 --> 01:11:55,310 without outside pressure, interference. 1410 01:11:55,311 --> 01:11:57,980 And they basically cratered the stock on purpose. 1411 01:11:57,981 --> 01:12:01,024 So, I just don't believe anything that guy says. 1412 01:12:01,025 --> 01:12:03,402 I wanted to take a cold shower after seeing him say that. 1413 01:12:03,403 --> 01:12:06,071 Robinhood is facing lawsuits, we know that. 1414 01:12:06,072 --> 01:12:08,448 After halting trade, they are accused 1415 01:12:08,449 --> 01:12:10,617 - of rigging the market. - When the big guys, 1416 01:12:10,618 --> 01:12:13,870 including one of your main investors in your company started to lose, 1417 01:12:13,871 --> 01:12:16,540 you shut down the game to starve the little guy. 1418 01:12:16,541 --> 01:12:19,543 They're stealing from the poor and giving back to the rich. 1419 01:12:19,544 --> 01:12:22,921 They're robbing from the 'hood! Why? 1420 01:12:22,922 --> 01:12:25,966 - I want to be 100% clear, - All of you guys deserve to burn in hell. 1421 01:12:25,967 --> 01:12:27,342 - This decision to... - And go to jail. 1422 01:12:27,343 --> 01:12:28,468 Restrict trade was not made on the direction 1423 01:12:28,469 --> 01:12:29,720 I'm just trying to get my mom out the 'hood. 1424 01:12:29,721 --> 01:12:32,514 - Of Citadel or any market maker. - What the fuck? Fuck you! 1425 01:12:32,515 --> 01:12:33,932 And your Mama Dukes, you motherfucking fraud. 1426 01:12:33,933 --> 01:12:34,933 Fuck this guy. 1427 01:12:35,727 --> 01:12:38,228 This guy is just an obfuscating piece of shit. 1428 01:12:38,229 --> 01:12:39,521 Fucker. 1429 01:12:39,522 --> 01:12:41,857 There's only one man I wanna hear from right now. 1430 01:12:41,858 --> 01:12:44,484 And Wall Street Bets is down, so it's crickets. 1431 01:12:44,485 --> 01:12:46,070 It's crickets out here. 1432 01:12:46,946 --> 01:12:48,072 Say it with me. 1433 01:12:48,573 --> 01:12:50,575 - Where my pussy at! - Where my pussy at! 1434 01:12:51,284 --> 01:12:52,827 - Mr. Gill! - Mr. Gill! 1435 01:12:53,620 --> 01:12:57,456 - Roaring Kitty, I fucking love you! - Keith Gill! 1436 01:12:57,457 --> 01:12:59,207 - Keith Gill, please! - Okay. 1437 01:12:59,208 --> 01:13:02,336 - Please. - Oh, sorry, this is, like, my house, uh... 1438 01:13:02,337 --> 01:13:03,921 - You want my autograph? - Yeah. 1439 01:13:04,839 --> 01:13:05,839 You've been served. 1440 01:13:08,801 --> 01:13:11,637 Hey, to the moon, baby! To the moon. 1441 01:13:11,638 --> 01:13:12,846 Holy shit. 1442 01:13:17,769 --> 01:13:21,605 Sorry to interrupt. We need to talk about the GameStop situation. 1443 01:13:21,606 --> 01:13:22,981 I thought Mecane was handling it. 1444 01:13:22,982 --> 01:13:25,817 So did we. But the committee's specifically requested you, sir. 1445 01:13:25,818 --> 01:13:28,029 If they want specifics, they can have Mecane. 1446 01:13:28,738 --> 01:13:30,657 It's not a choice, unfortunately. 1447 01:13:34,869 --> 01:13:36,120 Shitballs. 1448 01:13:38,915 --> 01:13:39,915 Keith? 1449 01:13:41,417 --> 01:13:44,503 - A congressional subpoena. - I never did anything illegal. 1450 01:13:44,504 --> 01:13:45,963 And I always had disclaimers... 1451 01:13:46,631 --> 01:13:48,841 Why would you have disclaimers if you weren't worried? 1452 01:13:49,384 --> 01:13:51,803 They're standard practice, Caroline, everyone has them. 1453 01:13:56,808 --> 01:13:57,808 Babe... 1454 01:14:01,187 --> 01:14:03,731 - the answer is not in your computer. - Whoa! 1455 01:14:04,357 --> 01:14:08,319 There's a dozen reporters on our lawn! You have to testify before Congress. 1456 01:14:08,986 --> 01:14:11,738 - The game has changed. - I know. I hear you. 1457 01:14:11,739 --> 01:14:13,157 I don't think you do. 1458 01:14:18,705 --> 01:14:20,123 Oh, my God. We're... 1459 01:14:21,666 --> 01:14:22,999 We're gonna go to my mother's. 1460 01:14:23,000 --> 01:14:25,168 No, she has terrible Wi-Fi. 1461 01:14:25,169 --> 01:14:27,212 I'm not talking about you. 1462 01:14:27,213 --> 01:14:29,090 I'm talking about me and her. 1463 01:14:29,841 --> 01:14:31,384 You need to figure this out. 1464 01:14:44,564 --> 01:14:46,440 - Where are you going? - To the track. 1465 01:14:46,441 --> 01:14:48,775 - You were just on the track. - I'm going again. 1466 01:14:59,287 --> 01:15:01,705 Hi. Can I interest you in some champagne or a mimosa? 1467 01:15:01,706 --> 01:15:03,999 - Is it free? - It is when you sit up here. 1468 01:15:04,000 --> 01:15:06,001 Well, there is a last time for everything. 1469 01:15:06,002 --> 01:15:07,502 Oh, you'll be back. 1470 01:15:07,503 --> 01:15:11,758 I had half a million in stocks last week, but Wall Street cheated. 1471 01:15:12,258 --> 01:15:13,426 Surprise, surprise. 1472 01:15:15,219 --> 01:15:16,471 I could have cashed out. 1473 01:15:17,597 --> 01:15:19,389 I could have paid my mortgage. 1474 01:15:19,390 --> 01:15:21,057 Could have gotten my kid braces. 1475 01:15:21,058 --> 01:15:21,976 Got a new car. 1476 01:15:21,977 --> 01:15:23,727 Honey, I'm gonna get you something stronger. 1477 01:15:23,728 --> 01:15:25,229 - Thank you. - You're welcome. 1478 01:15:31,360 --> 01:15:32,486 Meow! 1479 01:15:32,487 --> 01:15:33,612 Kitty! 1480 01:15:33,613 --> 01:15:36,323 You know you can't just eat other people's food. They do reviews, right? 1481 01:15:36,324 --> 01:15:37,365 Very funny. 1482 01:15:37,366 --> 01:15:38,366 Here. 1483 01:15:38,868 --> 01:15:40,160 What's this? 1484 01:15:40,161 --> 01:15:41,620 Look, they were on sale, all right, 1485 01:15:41,621 --> 01:15:44,664 - before you get all emotional and shit. - Holy shit, you fucking softy. 1486 01:15:44,665 --> 01:15:46,875 Who put you up to this? Caro? Ma? 1487 01:15:46,876 --> 01:15:48,668 No, Dad called me in tears, 1488 01:15:48,669 --> 01:15:50,504 said my big brother needed some moral support. 1489 01:15:50,505 --> 01:15:52,964 Ah, fuck off. I can't. 1490 01:15:52,965 --> 01:15:55,050 C'mon, man. Will you at least try 'em on? Please? 1491 01:15:55,051 --> 01:15:57,093 Try 'em. C'mon, you're the richest man in Brockton, 1492 01:15:57,094 --> 01:15:59,679 - you dress like an asshole. - I lost 15 million yesterday. 1493 01:15:59,680 --> 01:16:01,640 And another 15 the day before that. 1494 01:16:01,641 --> 01:16:04,018 You're still the richest man in Brockton, like, by far. 1495 01:16:04,685 --> 01:16:08,522 Bro, you got rich dudes pissing in their pants right now. 1496 01:16:08,523 --> 01:16:11,316 I mean, c'mon, man, how many people from Brockton High can say that? 1497 01:16:11,317 --> 01:16:12,484 This has gone crazy, 1498 01:16:12,485 --> 01:16:15,320 I got reporters hounding me outside my house. 1499 01:16:15,321 --> 01:16:17,448 Yeah, man, me too. They're coming after you. 1500 01:16:19,033 --> 01:16:20,742 You didn't talk to them, did you? 1501 01:16:20,743 --> 01:16:24,079 What do I look like? I said no. I said give me 50 grand maybe. 1502 01:16:24,080 --> 01:16:25,163 Tell me you're kidding. 1503 01:16:25,164 --> 01:16:27,833 Well, if you give me 20, then maybe we wouldn't have to deal with this shit. 1504 01:16:27,834 --> 01:16:28,875 The fuck is wrong with you!? 1505 01:16:28,876 --> 01:16:32,295 Kevin, I've just been subpoenaed by Congress, man. 1506 01:16:32,296 --> 01:16:33,964 I do not have time for your bullshit. 1507 01:16:33,965 --> 01:16:36,508 - Oh, come off it, man! - Seriously, asshole. 1508 01:16:36,509 --> 01:16:38,469 - Chill! It was a joke! - Fuck! 1509 01:16:46,394 --> 01:16:47,394 I know. 1510 01:16:48,062 --> 01:16:49,062 Sorry. 1511 01:16:56,028 --> 01:16:58,197 We never used to fight this much. 1512 01:17:01,117 --> 01:17:03,077 - Sara. - I miss her. 1513 01:17:03,703 --> 01:17:04,703 Me too. 1514 01:17:05,162 --> 01:17:06,581 She kept your ego in check. 1515 01:17:07,248 --> 01:17:09,417 Whole fuckin' world kept my ego in check. 1516 01:17:10,501 --> 01:17:13,170 What the fuck are you gonna tell Congress, Keith? Huh? 1517 01:17:14,255 --> 01:17:16,299 Beg them not to send me to prison? 1518 01:17:18,551 --> 01:17:19,551 Hey... 1519 01:17:20,136 --> 01:17:24,265 Hey, do you remember back at Stonehill when they dared me to run that mile naked? 1520 01:17:24,765 --> 01:17:26,474 Yeah, there was a crazy storm that night. 1521 01:17:26,475 --> 01:17:28,184 - You dumb shit. - Fuck you, man. 1522 01:17:28,185 --> 01:17:30,604 That was dope, man. I'm a legend over there. 1523 01:17:30,605 --> 01:17:31,855 Everybody remembers that! 1524 01:17:31,856 --> 01:17:32,981 - Okay. - They do, man. 1525 01:17:32,982 --> 01:17:35,025 You don't think people remember your 4-minute 3-second mile? 1526 01:17:35,026 --> 01:17:36,985 Oh... what is this, a pep talk? 1527 01:17:36,986 --> 01:17:38,486 Motherfucker, stop hiding. 1528 01:17:38,487 --> 01:17:42,033 Seriously. Okay, stop being all meek and shit and running away. 1529 01:17:42,867 --> 01:17:45,410 What, you want me to run through lightning with my dick out? 1530 01:17:45,411 --> 01:17:46,411 Yeah. 1531 01:17:46,412 --> 01:17:48,581 Please, exactly that. 1532 01:17:49,290 --> 01:17:51,584 Run through lightning with your dick out. Fuck it. 1533 01:17:59,800 --> 01:18:01,260 You didn't go to your mom's? 1534 01:18:03,179 --> 01:18:04,388 You took the car. 1535 01:18:06,140 --> 01:18:08,225 How was the run? Did it clear your head? 1536 01:18:09,018 --> 01:18:10,560 Kev found me, brought me these. 1537 01:18:10,561 --> 01:18:13,064 Hm. You guys talked? 1538 01:18:13,564 --> 01:18:16,317 Yup, he, uh, told me to run naked. 1539 01:18:16,817 --> 01:18:18,401 - You ran naked? - No. 1540 01:18:18,402 --> 01:18:22,573 Uh, it's a metaphor. He's saying I gotta take this thing head on. 1541 01:18:23,658 --> 01:18:24,658 Well... 1542 01:18:30,081 --> 01:18:31,666 I'd kinda like to see you run naked. 1543 01:18:35,294 --> 01:18:37,964 By the way, Wall Street Bets is back up. 1544 01:18:39,590 --> 01:18:40,967 The motherfucker held. 1545 01:18:41,717 --> 01:18:46,097 Holy shit! He lost 30 million, and he still fucking held. 1546 01:18:49,475 --> 01:18:51,185 - Robinhood's back up. - What? 1547 01:18:51,978 --> 01:18:54,397 - We gotta get back in. - Where's the stock at right now? 1548 01:18:55,147 --> 01:18:56,148 109. 1549 01:18:56,649 --> 01:18:57,692 Are you sure? 1550 01:18:58,192 --> 01:19:00,945 That's like all of the money that we made back into the stock. 1551 01:19:04,824 --> 01:19:07,326 Yeah. We can't let them get away with this. 1552 01:19:09,412 --> 01:19:10,412 Fuck 'em. 1553 01:19:10,830 --> 01:19:12,039 If he's in, I'm in. 1554 01:19:12,915 --> 01:19:14,125 If he's in, I'm in. 1555 01:19:17,628 --> 01:19:18,629 Okay. 1556 01:19:20,297 --> 01:19:21,297 Fuck! 1557 01:19:27,304 --> 01:19:31,933 The frenzy continues with retail investors bidding back up GameStop. 1558 01:19:31,934 --> 01:19:34,102 - Meme stock mania is back. - up more than 80% 1559 01:19:34,103 --> 01:19:36,646 as those message board traders simply sent it higher. 1560 01:19:36,647 --> 01:19:38,314 Stock volatility continuing, 1561 01:19:38,315 --> 01:19:41,192 it looks like this morning once again GameStop are involved in 1562 01:19:41,193 --> 01:19:44,612 an ongoing battle between retail investors and short sellers. 1563 01:19:44,613 --> 01:19:46,156 We're gonna have a lot more on this story. 1564 01:19:46,157 --> 01:19:49,242 CEOs of Robinhood, Reddit, Citadel and Melvin Capital. 1565 01:19:49,243 --> 01:19:52,662 Along with Keith Gill, better known as Roaring Kitty 1566 01:19:52,663 --> 01:19:56,041 on social media, will be in the hot seat. 1567 01:20:00,504 --> 01:20:03,590 I'm here testifying today far removed from my background. 1568 01:20:03,591 --> 01:20:06,676 I grew up in a middle-class family in Portland, Maine. 1569 01:20:06,677 --> 01:20:08,344 My dad was a grocery store executive. 1570 01:20:08,345 --> 01:20:09,805 Maybe leave that part out. 1571 01:20:11,140 --> 01:20:12,223 The part about my dad? 1572 01:20:12,224 --> 01:20:13,349 The executive part. 1573 01:20:13,350 --> 01:20:14,935 Okay... okay. 1574 01:20:18,272 --> 01:20:22,734 I went to a public high school. I studied hard and got into Northwestern. 1575 01:20:22,735 --> 01:20:24,819 - Just say "a good college." - Upon... 1576 01:20:24,820 --> 01:20:26,404 I can't say I went to Northwestern? 1577 01:20:26,405 --> 01:20:28,282 - Too elite. - Northwestern's too... 1578 01:20:28,949 --> 01:20:29,949 All right. 1579 01:20:33,788 --> 01:20:38,374 Upon graduation, I did not have a job. Today, I'm married with four children. 1580 01:20:38,375 --> 01:20:40,628 Gabe, where do you plan on doing your testimony? 1581 01:20:43,005 --> 01:20:45,758 - Here. - In front of your wine collection? 1582 01:20:47,802 --> 01:20:50,970 I mean, this is... I don't have that big of a wine collection honestly. 1583 01:20:50,971 --> 01:20:52,013 Yeah, it's huge. 1584 01:20:52,014 --> 01:20:53,932 Digital risks seem to be overblown. 1585 01:20:53,933 --> 01:20:56,434 Two, the negative sentiment is overdone. 1586 01:20:56,435 --> 01:21:00,231 - Three, the value... - Maybe... here would be nice. 1587 01:21:03,526 --> 01:21:05,527 - Too many windows. - Too many windows... Oh. 1588 01:21:05,528 --> 01:21:06,694 It's very bright. 1589 01:21:06,695 --> 01:21:09,864 - Yeah, ocean front's not a great idea. - It's blue. 1590 01:21:09,865 --> 01:21:11,616 Yeah. Okay, I hadn't thought of that. 1591 01:21:11,617 --> 01:21:14,536 That, uh, yeah, downstairs there's more... there's probably darker rooms. 1592 01:21:14,537 --> 01:21:16,704 What a bandit. Most of you know this guy, 1593 01:21:16,705 --> 01:21:18,331 who is the Roaring Kitty character, 1594 01:21:18,332 --> 01:21:19,791 - who was really pushing it. - Holy shit. 1595 01:21:19,792 --> 01:21:21,835 - You know, voicing the information. - Yo, Riri, our boy's on the news. 1596 01:21:21,836 --> 01:21:23,753 And what's the potentially systemic risk? 1597 01:21:23,754 --> 01:21:26,089 Those relationships in D.C. are strong. 1598 01:21:26,090 --> 01:21:30,218 The guys who run those hedge funds are the guys who fund presidential campaigns. 1599 01:21:30,219 --> 01:21:32,178 - You know Roaring Kitties don't have - That's a good point. 1600 01:21:32,179 --> 01:21:33,596 - That kind of influence, - Gill is now being sued 1601 01:21:33,597 --> 01:21:34,681 - but the hedge fund managers do. - For securities fraud 1602 01:21:34,682 --> 01:21:37,016 over his alleged role in the GameStop rally. 1603 01:21:37,017 --> 01:21:39,894 Is Mr. Gill likely to appear, and if he appears, 1604 01:21:39,895 --> 01:21:44,065 is he likely to talk if he faces the potential of prosecution? 1605 01:21:44,066 --> 01:21:49,070 Fundamentals are based on three things: One, digital risks are overblown. 1606 01:21:49,071 --> 01:21:50,989 Two, the negative sentiment is overdone. 1607 01:21:50,990 --> 01:21:52,199 And three... 1608 01:21:55,911 --> 01:21:56,745 Fuck. 1609 01:21:56,746 --> 01:21:58,955 - Ah, c'mon, shut up. - I know all this. 1610 01:22:00,374 --> 01:22:02,876 You guys, you guys, stop. Stop, let's keep going. 1611 01:22:02,877 --> 01:22:04,002 All right, let's go again. 1612 01:22:04,003 --> 01:22:06,337 You're right, this is serious. You can go to jail forever. 1613 01:22:06,338 --> 01:22:07,964 - A long time. Long, long time. - All right. You ready? 1614 01:22:07,965 --> 01:22:09,924 You ready here we go. Back in the game. 1615 01:22:09,925 --> 01:22:13,094 - Mr. Gill. May I call you Mr. Gill, sir? - It's my name. 1616 01:22:13,095 --> 01:22:15,597 Why the fuck wouldn't you be able to call him Mr. Gill? 1617 01:22:15,598 --> 01:22:17,557 What were your intentions with the YouTube videos 1618 01:22:17,558 --> 01:22:19,184 and your social media posts on GameStop? 1619 01:22:19,185 --> 01:22:20,768 - Yes. - Thank you, congresswoman. 1620 01:22:20,769 --> 01:22:22,270 You're welcome. 1621 01:22:22,271 --> 01:22:24,397 I developed a theory that the company was undervalued 1622 01:22:24,398 --> 01:22:26,191 despite the significant short interest. 1623 01:22:26,192 --> 01:22:28,193 Oh, so you were aware of the short interest. 1624 01:22:28,194 --> 01:22:30,778 It is public knowledge. You can see it in the SEC filings. 1625 01:22:30,779 --> 01:22:33,114 And your goal was to break these shorts, yes? 1626 01:22:33,115 --> 01:22:36,743 To rally an online mob to artificially push the price of GameStop soaring, 1627 01:22:36,744 --> 01:22:39,871 ah, "to the moon" as they say, isn't that correct, Mr. Gill? 1628 01:22:39,872 --> 01:22:41,831 Objection, objection, you're leading the witness. 1629 01:22:41,832 --> 01:22:42,916 - Kev... - Witness. 1630 01:22:42,917 --> 01:22:44,375 I yield my time to the chair. 1631 01:22:44,376 --> 01:22:46,836 You were hoping for the short squeeze, weren't you, Mr. Gill? 1632 01:22:46,837 --> 01:22:48,004 You short squeezing bastard. 1633 01:22:48,005 --> 01:22:50,089 The short squeeze was a marginal point of the thesis. 1634 01:22:50,090 --> 01:22:52,258 Then why did you talk about it in your videos all the time? 1635 01:22:52,259 --> 01:22:54,093 You did talk about it in your videos. You talked about it a lot. 1636 01:22:54,094 --> 01:22:55,637 - You remember about the squeeze. - Exactly. 1637 01:22:55,638 --> 01:22:56,846 You were like "It's just a little squeeze." 1638 01:22:56,847 --> 01:22:57,847 Exactly. 1639 01:22:57,848 --> 01:23:00,391 Are you really asking us to believe that you weren't a leader 1640 01:23:00,392 --> 01:23:02,602 - to all these retail traders? - You're fucked, buddy. 1641 01:23:02,603 --> 01:23:04,771 - My point of view... - Asking. Yes or no? 1642 01:23:04,772 --> 01:23:06,272 - Yes or no? - Yes. So yes. 1643 01:23:06,273 --> 01:23:07,482 - Yes or no? - You are admitting it. Yes. 1644 01:23:07,483 --> 01:23:08,900 Remember you with a cheap bottle of champagne. 1645 01:23:08,901 --> 01:23:10,109 At any moment... Kevin! 1646 01:23:10,110 --> 01:23:11,152 - Kevin! - Dunking ten dies like a fucking... 1647 01:23:11,153 --> 01:23:12,153 What? 1648 01:23:13,364 --> 01:23:15,741 I'm running with my dick out. 1649 01:23:16,825 --> 01:23:18,201 Okay, why don't you just say that? 1650 01:23:18,202 --> 01:23:19,578 Okay, I'll stop. 1651 01:23:20,371 --> 01:23:25,250 All right. Mr. Gill, what exactly about the fundamentals 1652 01:23:25,251 --> 01:23:28,544 - led you to build this bull case? - What the fuck's with the voice? 1653 01:23:28,545 --> 01:23:30,880 I don't know, I was trying to do AOC, but it was flat. 1654 01:23:30,881 --> 01:23:32,173 I don't even think she's on the panel. 1655 01:23:32,174 --> 01:23:33,383 You shut the fuck up, Briggsy. 1656 01:23:33,384 --> 01:23:34,759 - I'll slap the shit out of you. - Is she on that panel? 1657 01:23:34,760 --> 01:23:35,678 - I swear to God. - You're gonna slap me? 1658 01:23:35,679 --> 01:23:37,053 - Yeah, let's go. - You ready to go? 1659 01:23:37,054 --> 01:23:39,723 - Let's go. - I've been waiting for this, dog. 1660 01:23:57,157 --> 01:23:58,157 Come here. 1661 01:24:06,750 --> 01:24:08,711 You're gonna be great. 1662 01:24:09,962 --> 01:24:12,672 If it goes bad, it's gonna be real bad. 1663 01:24:12,673 --> 01:24:14,465 Well, don't let it go bad. 1664 01:24:14,466 --> 01:24:18,720 This hearing will be first in a series of hearings by the committee 1665 01:24:18,721 --> 01:24:23,808 to examine the recent market volatility involving GameStop. 1666 01:24:23,809 --> 01:24:28,396 I want to know how each of the witnesses here today 1667 01:24:28,397 --> 01:24:30,565 - contributed to the historic... - Gabe, can you sit up? 1668 01:24:30,566 --> 01:24:33,736 Trading events in January. 1669 01:24:34,278 --> 01:24:36,529 This recent market volatility 1670 01:24:36,530 --> 01:24:41,117 has put a national spotlight on institutional practices 1671 01:24:41,118 --> 01:24:42,785 by Wall Street firms. 1672 01:24:42,786 --> 01:24:46,456 And they have demonstrated the enormous potential power 1673 01:24:46,457 --> 01:24:49,168 of social media in our markets. 1674 01:24:49,752 --> 01:24:53,297 We will hear firsthand from the witnesses regarding these events. 1675 01:24:53,922 --> 01:24:58,092 The hearing will be an opportunity for this committee to get the facts 1676 01:24:58,093 --> 01:25:01,346 about the role each of the witnesses represent, 1677 01:25:01,347 --> 01:25:04,974 played in the events we are examining today. 1678 01:25:04,975 --> 01:25:07,435 Well, now, Mr. Griffin, if I could ask you this first question. 1679 01:25:07,436 --> 01:25:08,354 Of course. 1680 01:25:08,355 --> 01:25:10,522 How many people are in the room with you? 1681 01:25:11,398 --> 01:25:12,440 That's your question? 1682 01:25:12,441 --> 01:25:14,921 If you can just count how many people are in the room with you. 1683 01:25:19,156 --> 01:25:22,658 There are five people, including myself, in this room. 1684 01:25:22,659 --> 01:25:24,327 - Anyone in your organization... - Such a prick. 1685 01:25:24,328 --> 01:25:26,537 Since January 1st, contact Robinhood? 1686 01:25:26,538 --> 01:25:31,376 We of course talk to Robinhood routinely in the ordinary course of business. 1687 01:25:31,377 --> 01:25:33,711 We manage a substantial portion of their order flow. 1688 01:25:33,712 --> 01:25:36,089 But did you talk to them about restricting 1689 01:25:36,090 --> 01:25:40,301 or doing anything to prevent people from buying GameStop? 1690 01:25:40,302 --> 01:25:43,096 I want to be perfectly clear. 1691 01:25:43,097 --> 01:25:46,808 We had no role in Robinhood's decision 1692 01:25:46,809 --> 01:25:49,060 - to limit trading in GameStop. - Fuck you, Ken Griffin. 1693 01:25:49,061 --> 01:25:52,940 So, if we depose everyone in your organization, we would find that? 1694 01:25:53,607 --> 01:25:54,525 That is correct. 1695 01:25:54,526 --> 01:25:57,151 Looks like a Disney Channel villain. 1696 01:25:57,152 --> 01:26:01,739 Mr. Plotkin, do you believe that there is manipulation, distrust, 1697 01:26:01,740 --> 01:26:04,659 and overall inequality within American finance? 1698 01:26:04,660 --> 01:26:06,828 My focus is on my company, Melvin... 1699 01:26:08,497 --> 01:26:09,664 Hello? 1700 01:26:09,665 --> 01:26:11,374 You're on mute, dick! 1701 01:26:11,375 --> 01:26:13,001 Ah, I'm sorry, you're on mute. 1702 01:26:17,214 --> 01:26:18,881 He just keeps going. 1703 01:26:18,882 --> 01:26:20,716 My area of expertise. 1704 01:26:20,717 --> 01:26:24,470 You're still on mute. I haven't been able to hear a word you said, unfortunately. 1705 01:26:24,471 --> 01:26:26,848 Mr. Tenev, would you be willing to commit today 1706 01:26:26,849 --> 01:26:29,016 - to voluntarily pass on the proceeds... - Oh. Marry me. 1707 01:26:29,017 --> 01:26:31,811 Of the payment for order flow to Robinhood customers? 1708 01:26:31,812 --> 01:26:34,355 Congresswoman, I appreciate that question. 1709 01:26:34,356 --> 01:26:38,568 When the statement you refer to was made, it was before Robinhood forced 1710 01:26:38,569 --> 01:26:40,570 the entire industry to drop 1711 01:26:40,571 --> 01:26:42,280 - commissions and replicate our... - I should take that as a no. 1712 01:26:42,281 --> 01:26:45,116 You're not willing to pass on the proceeds of payment for order flow 1713 01:26:45,117 --> 01:26:46,076 to your customers? 1714 01:26:46,077 --> 01:26:48,786 - When the other brokers drop... - I'm just talking about today. 1715 01:26:48,787 --> 01:26:49,996 - Asshole. - I don't want to be rude. 1716 01:26:49,997 --> 01:26:51,372 I just have limited time, 1717 01:26:51,373 --> 01:26:55,376 but if removing the revenues that you make from a payment for order flow 1718 01:26:55,377 --> 01:26:58,880 would cause the removal of free commissions, 1719 01:26:58,881 --> 01:27:00,673 doesn't that mean that trading on Robinhood 1720 01:27:00,674 --> 01:27:02,633 isn't actually free to begin with? 1721 01:27:02,634 --> 01:27:04,011 Good question. 1722 01:27:10,642 --> 01:27:12,894 Thank you very much, Mr. Gill. 1723 01:27:12,895 --> 01:27:17,524 You are now recognized for five minutes to present your oral testimony. 1724 01:27:29,453 --> 01:27:31,914 Thank you, members of the committee. 1725 01:27:34,458 --> 01:27:37,753 I am happy to discuss my purchase of GameStop shares 1726 01:27:38,337 --> 01:27:41,715 and my discussions of their fair value on social media. 1727 01:27:42,549 --> 01:27:44,175 But before I do that, 1728 01:27:44,176 --> 01:27:46,094 a few things I am not: 1729 01:27:47,888 --> 01:27:49,097 I am not a cat. 1730 01:27:50,641 --> 01:27:52,892 - What did he say? - He just said cat, Ma. 1731 01:27:52,893 --> 01:27:54,185 It's like a kitty thing. 1732 01:27:54,186 --> 01:27:56,604 Nor am I a hedge fund. I do not have clients, 1733 01:27:56,605 --> 01:28:01,943 and I do not provide personalized investment advice for fees or commissions. 1734 01:28:01,944 --> 01:28:04,029 I grew up in Brockton, Mass. 1735 01:28:04,780 --> 01:28:06,656 My family was not wealthy. 1736 01:28:06,657 --> 01:28:09,992 My father was a truck driver and my mom a registered nurse. 1737 01:28:09,993 --> 01:28:12,203 - That's you, Ma! - I was one of three kids 1738 01:28:12,204 --> 01:28:15,289 and the first in my family to earn a four-year college degree 1739 01:28:15,290 --> 01:28:19,460 when I graduated from Stonehill College in 2009. 1740 01:28:19,461 --> 01:28:21,587 That was not a good time to be looking for a job. 1741 01:28:21,588 --> 01:28:24,090 From 2010-2017, 1742 01:28:24,091 --> 01:28:27,552 there were significant periods when I was unemployed. 1743 01:28:27,553 --> 01:28:29,929 I took an interest in the stock market, 1744 01:28:29,930 --> 01:28:32,223 and even though I had very little money, 1745 01:28:32,224 --> 01:28:36,435 I used those times to educate myself and learn more about investing. 1746 01:28:36,436 --> 01:28:40,398 Mr. Gill, I find it hard to believe that you predicted everything 1747 01:28:40,399 --> 01:28:44,068 that happened to GameStop with no inside information. 1748 01:28:44,069 --> 01:28:45,820 Uh, I didn't predict it. 1749 01:28:45,821 --> 01:28:49,198 I honestly couldn't explain everything that happened in January. 1750 01:28:49,199 --> 01:28:53,035 I've seen your videos. You honestly couldn't recount to the committee 1751 01:28:53,036 --> 01:28:57,624 what caused every single up and down of the stock in January? 1752 01:28:58,208 --> 01:28:59,334 I think you could. 1753 01:29:00,669 --> 01:29:04,046 I did follow the stock, uh, very closely, 1754 01:29:04,047 --> 01:29:07,675 but threshold lists, order flows, halting purchases, according to the press, 1755 01:29:07,676 --> 01:29:09,635 these all had a material impact on the stock. 1756 01:29:09,636 --> 01:29:12,305 Here's the thing: I have a bit of experience with this stuff, 1757 01:29:12,306 --> 01:29:14,307 and even I barely understand these matters. 1758 01:29:14,308 --> 01:29:18,185 It's alarming how little we all know about the inner workings of the market. 1759 01:29:18,186 --> 01:29:20,896 Which is why I'm glad this committee is examining what happened, 1760 01:29:20,897 --> 01:29:23,691 particularly with the exorbitant short interest 1761 01:29:23,692 --> 01:29:26,652 as well as any potentially manipulative shorting practices 1762 01:29:26,653 --> 01:29:30,823 and brokers' reported failures to timely deliver shares and settle trades. 1763 01:29:34,119 --> 01:29:36,329 A lot of people feel the system is broken. 1764 01:29:36,330 --> 01:29:40,416 The whole idea of the stock market is to be, like, kind of a fair playing field, 1765 01:29:40,417 --> 01:29:44,338 where if you're smart, maybe with a little luck, you could make your fortune. 1766 01:29:45,130 --> 01:29:47,466 But, if it ever was that, it's certainly not any more. 1767 01:29:48,550 --> 01:29:51,886 The big firms have such a big advantage, in terms of technology and information 1768 01:29:51,887 --> 01:29:55,223 and just sheer wealth, there's no hope for the little guy anymore. 1769 01:29:55,974 --> 01:29:57,851 Or there was no hope. 1770 01:29:58,602 --> 01:30:00,646 Maybe now, there is. 1771 01:30:02,814 --> 01:30:04,274 And as for me, 1772 01:30:04,983 --> 01:30:06,150 I like the stock. 1773 01:30:07,152 --> 01:30:09,612 He's a gangster for that. 1774 01:30:09,613 --> 01:30:11,322 I don't plan on selling any time soon. 1775 01:30:11,323 --> 01:30:13,032 - Hold it. - Say that shit. 1776 01:30:13,033 --> 01:30:14,075 Diamond fucking hands. 1777 01:30:14,076 --> 01:30:15,077 Diamond hands, baby. 1778 01:30:16,203 --> 01:30:17,745 Attaboy. 1779 01:30:17,746 --> 01:30:19,122 What a nerd. 1780 01:30:19,748 --> 01:30:20,748 Thank you. 1781 01:30:28,340 --> 01:30:30,759 It was good. I think. 1782 01:30:31,927 --> 01:30:34,804 Yesterday's Reddit hearing in Congress brought together 1783 01:30:34,805 --> 01:30:37,181 some of the power players behind the January trading frenzy. 1784 01:30:37,182 --> 01:30:40,434 Representative Maxine Waters did say there will be additional hearings... 1785 01:30:40,435 --> 01:30:43,646 What you got here involves people named DFV and Roaring Kitty, ultimately... 1786 01:30:43,647 --> 01:30:46,691 two more to follow to find more answers, one market expert... 1787 01:30:46,692 --> 01:30:48,484 Whether it's markets or social media, 1788 01:30:48,485 --> 01:30:50,277 I'll just call it media because it is now. 1789 01:30:50,278 --> 01:30:52,196 Do you think any new regulation gets done? 1790 01:30:52,197 --> 01:30:54,365 What's clear is that we're in the Wild West 1791 01:30:54,366 --> 01:30:57,535 and that there is so much activity that's going on, on these online forums. 1792 01:30:57,536 --> 01:31:00,830 And we've seen in the last month and the last six weeks how much force 1793 01:31:00,831 --> 01:31:04,458 day traders en masse can bring to the market and actually affect it. 1794 01:31:04,459 --> 01:31:06,502 They used to just make some noise around the edges. 1795 01:31:06,503 --> 01:31:09,296 Now they can actually move markets, move securities. 1796 01:31:40,787 --> 01:31:41,913 Cheers, everyone. 1797 01:31:48,962 --> 01:31:49,962 Ah. 1798 01:31:58,430 --> 01:31:59,973 You're a fucking gangster. 1799 01:32:19,618 --> 01:32:22,119 Hey, man, I notice you've been selling a lot of new games, 1800 01:32:22,120 --> 01:32:25,414 and I just wanted to remind you, again, that we really wanna be pushing customers 1801 01:32:25,415 --> 01:32:28,001 towards the higher-margin pre-owned games. 1802 01:32:29,044 --> 01:32:31,003 Yeah, I'm not gonna do that. 1803 01:32:31,004 --> 01:32:31,922 Excuse me? 1804 01:32:31,923 --> 01:32:34,632 Oh, and in fact, I'm not gonna do any of the Circle of Life bullshit. 1805 01:32:34,633 --> 01:32:36,091 Or your TikTok dance contest. 1806 01:32:36,092 --> 01:32:37,177 You're quitting, then. 1807 01:32:39,137 --> 01:32:40,137 Okay. 1808 01:32:40,138 --> 01:32:41,973 No, I mean, I thought about it, but... 1809 01:32:42,974 --> 01:32:44,767 Like, yo, I love it here. 1810 01:32:44,768 --> 01:32:46,519 So I think I'm gonna stay. 1811 01:32:46,520 --> 01:32:50,065 Well, you're awfully smug for a kid who lost all his money buying stock. 1812 01:32:50,565 --> 01:32:52,984 What did you say it was going to? A thousand? 1813 01:32:54,236 --> 01:32:56,738 I'm also not gonna work at the ass crack of dawn any more. 1814 01:32:57,864 --> 01:32:58,864 You're fired. 1815 01:33:00,659 --> 01:33:01,909 No, I'm not. 1816 01:33:01,910 --> 01:33:04,704 You gotta get that approved by like seven levels of people, yo. 1817 01:33:05,205 --> 01:33:07,748 Thanks to the geniuses who put that together. 1818 01:33:07,749 --> 01:33:09,793 The ones who used to own my ass. 1819 01:33:10,293 --> 01:33:11,294 You sold? 1820 01:33:12,587 --> 01:33:13,587 Half. 1821 01:33:14,756 --> 01:33:16,715 Right at the tippy tippy top. 1822 01:33:16,716 --> 01:33:19,552 And I'm holding the other half for the long haul. 1823 01:33:19,553 --> 01:33:21,388 ♪ 'Cause I'm a savage ♪ 1824 01:33:21,888 --> 01:33:24,474 ♪ Classy, bougie, ratchet ♪ 1825 01:33:25,016 --> 01:33:27,852 ♪ Sassy, moody, nasty ♪ 1826 01:33:27,853 --> 01:33:30,187 ♪ Acting stupid what was happening ♪ 1827 01:33:31,523 --> 01:33:35,192 ♪ Classy, bougie, ratchet ♪ 1828 01:33:35,193 --> 01:33:38,112 ♪ Sassy, moody, nasty ♪ 1829 01:33:38,113 --> 01:33:40,155 ♪ Acting stupid, what's happening? ♪ 1830 01:33:40,156 --> 01:33:41,657 ♪ Bitch, what's happening? ♪ 1831 01:33:41,658 --> 01:33:43,617 ♪ Bitch, I'm a savage, yeah ♪ 1832 01:33:43,618 --> 01:33:46,287 ♪ Classy, bougie, ratchet, yeah ♪ 1833 01:33:46,288 --> 01:33:49,123 ♪ Sassy, moody, nasty ♪ 1834 01:33:49,124 --> 01:33:51,750 ♪ Acting stupid, what's happening? ♪ 1835 01:33:51,751 --> 01:33:53,669 ♪ Bitch, what's happening? ♪ 1836 01:33:53,670 --> 01:33:56,463 ♪ Eat me and record it But your edge-up all I'm showing ♪ 1837 01:33:56,464 --> 01:33:59,341 ♪ I keep my niggas private So his AP all I'm showing ♪ 1838 01:33:59,342 --> 01:34:01,927 ♪ Beefing with you bitches Really getting kinda boring ♪ 1839 01:34:01,928 --> 01:34:04,680 ♪ If it ain't about the money Then you know I'm gon' ignore it ♪ 1840 01:34:04,681 --> 01:34:05,599 ♪ I'm the shit, ooh ♪ 1841 01:34:05,600 --> 01:34:08,767 ♪ I need a mop to clean the floor It's too much drip, ooh ♪ 1842 01:34:08,768 --> 01:34:10,895 ♪ I keep a knot, I keep a watch I keep a whip... ♪ 1843 01:34:10,896 --> 01:34:12,230 Fuck yeah! 1844 01:34:12,772 --> 01:34:15,524 I'm here testifying today far removed from my background. 1845 01:34:15,525 --> 01:34:17,818 I grew up in a middle-class family in Portland, Maine. 1846 01:34:17,819 --> 01:34:19,486 I went to a public high school. 1847 01:34:19,487 --> 01:34:21,906 I studied hard and got into a good college. 1848 01:34:21,907 --> 01:34:24,450 Upon graduation, I did not have a job. 1849 01:34:24,451 --> 01:34:27,536 ♪ Bitch, what's happening? ♪ 1850 01:34:27,537 --> 01:34:33,500 When the statement you refer to was made, uh, I believe 2015 or 2016, 1851 01:34:33,501 --> 01:34:36,587 it was before Robinhood forced the entire industry 1852 01:34:36,588 --> 01:34:39,340 - to drop commissions and replicate our... - I should take that as a no. 1853 01:34:39,341 --> 01:34:42,259 You're not willing to pass on the proceeds of payment for order flow 1854 01:34:42,260 --> 01:34:43,469 to your customers? 1855 01:34:43,470 --> 01:34:45,721 ♪ That body right But you know this pussy fat, ooh ♪ 1856 01:34:45,722 --> 01:34:48,140 ♪ I drop a picture Now these bitches feel attacked ♪ 1857 01:34:48,141 --> 01:34:50,976 ♪ Don't let that nigga gas you up And get you whacked, ooh ♪ 1858 01:34:50,977 --> 01:34:52,978 ♪ I make a call and get a pussy nigga smacked... ♪ 1859 01:34:52,979 --> 01:34:57,858 But did you talk to them about restricting or doing anything to prevent people 1860 01:34:57,859 --> 01:35:01,278 from buying, not selling but buying, in GameStop? 1861 01:35:01,279 --> 01:35:03,406 Let me be perfectly clear. 1862 01:35:04,157 --> 01:35:06,450 Absolutely not. 1863 01:35:31,267 --> 01:35:33,310 As for me, I like the stock. 1864 01:35:33,311 --> 01:35:34,396 ♪ Mwah ♪ 1865 01:35:36,147 --> 01:35:37,607 Hurry up, dick, it's cold. 1866 01:35:38,483 --> 01:35:40,067 I can't believe you're my brother. 1867 01:35:40,068 --> 01:35:41,610 You look like a fucking Ninja Turtle. 1868 01:35:41,611 --> 01:35:43,279 - Ready? - Yup. 1869 01:35:44,114 --> 01:35:45,531 - Set... What? - Fuck you! 1870 01:35:45,532 --> 01:35:46,532 Kevin! 1871 01:35:48,743 --> 01:35:49,785 C'mon, Kitty! 1872 01:36:00,380 --> 01:36:02,507 ♪ I'm gonna fight 'em off ♪ 1873 01:36:03,842 --> 01:36:07,679 ♪ A seven nation army Couldn't hold me back ♪ 1874 01:36:08,221 --> 01:36:10,223 ♪ They're gonna rip it off ♪ 1875 01:36:11,766 --> 01:36:15,477 ♪ Takin' their time right behind my back ♪ 1876 01:36:15,478 --> 01:36:21,276 ♪ And the message comin' from my eyes Says, "Leave it alone" ♪ 1877 01:36:55,477 --> 01:36:57,687 ♪ Don't want to hear about it ♪ 1878 01:36:59,314 --> 01:37:02,776 ♪ Every single one's got a story to tell ♪ 1879 01:37:03,443 --> 01:37:05,403 ♪ Everyone knows about it ♪ 1880 01:37:06,988 --> 01:37:10,492 ♪ From the Queen of England To the Hounds of Hell ♪ 1881 01:37:11,159 --> 01:37:16,247 ♪ And if I catch it comin' back my way I'm gonna serve it to you ♪ 1882 01:37:19,292 --> 01:37:24,005 ♪ And that ain't what you want to hear But that's what I'll do ♪ 1883 01:37:26,841 --> 01:37:32,180 ♪ And the feelin' comin' from my bones Says, "Find a home" ♪ 1884 01:38:22,188 --> 01:38:24,190 ♪ I'm goin' to Wichita ♪ 1885 01:38:25,817 --> 01:38:29,195 ♪ Far from this opera for evermore ♪ 1886 01:38:29,946 --> 01:38:31,990 ♪ I'm gonna work the straw ♪ 1887 01:38:33,491 --> 01:38:37,162 ♪ Make the sweat drip out of every pore ♪ 1888 01:38:37,912 --> 01:38:43,084 ♪ And I'm bleedin' and I'm bleedin' And I'm bleedin' right before the Lord ♪ 1889 01:38:45,753 --> 01:38:50,800 ♪ All the words are gonna bleed from me And I will think no more ♪ 1890 01:38:53,511 --> 01:38:58,474 ♪ And the stains comin' from my blood Tell me, "Go back home" ♪ 1891 01:39:20,872 --> 01:39:23,499 ♪ You make me wanna You make me wanna ♪ 1892 01:39:24,542 --> 01:39:25,752 ♪ You make me wanna ♪ 1893 01:39:28,379 --> 01:39:31,174 ♪ You make me wanna You make me wanna ♪ 1894 01:39:32,008 --> 01:39:33,468 ♪ You make me wanna ♪ 1895 01:39:36,012 --> 01:39:38,932 ♪ You make me wanna You make me wanna ♪ 1896 01:39:39,599 --> 01:39:41,100 ♪ You make me wanna ♪ 1897 01:39:57,242 --> 01:39:58,451 ♪ You make me wanna ♪ 1898 01:40:04,207 --> 01:40:05,667 ♪ You make me wanna ♪ 1899 01:40:06,709 --> 01:40:09,629 ♪ You make me wanna You make me wanna ♪ 1900 01:40:10,296 --> 01:40:11,756 ♪ You make me wanna ♪ 1901 01:40:14,092 --> 01:40:17,512 ♪ You make me wanna You make me wanna ♪ 1902 01:40:18,304 --> 01:40:19,555 ♪ You make me wanna ♪ 1903 01:40:37,573 --> 01:40:40,493 ♪ You make me wanna You make me wanna ♪ 1904 01:40:41,452 --> 01:40:42,537 ♪ You make me wanna ♪ 1905 01:40:45,081 --> 01:40:48,251 ♪ You make me wanna You make me wanna ♪ 1906 01:40:48,876 --> 01:40:50,169 ♪ You make me wanna ♪ 1907 01:40:52,088 --> 01:40:55,842 ♪ You make me wanna You make me wanna ♪ 1908 01:40:56,676 --> 01:40:58,052 ♪ You make me wanna ♪ 1909 01:41:11,566 --> 01:41:13,192 ♪ You make me wanna ♪ 1910 01:41:19,532 --> 01:41:20,658 ♪ You make me wanna ♪ 1911 01:41:21,743 --> 01:41:24,704 ♪ You make me wanna You make me wanna ♪ 1912 01:41:25,496 --> 01:41:26,748 ♪ You make me wanna ♪ 1913 01:41:28,916 --> 01:41:32,378 ♪ You make me wanna You make me wanna ♪ 1914 01:41:33,212 --> 01:41:34,338 ♪ You make me wanna ♪ 154835