‘Dumb Money’ Ending Explained – What Happened After the Movie’s Events?

The Big Picture

• Dumb Money is a fast-paced film adaptation of the real-life GameStop stock saga, highlighting the clash between everyday investors and Wall Street.
• The movie explores the story from multiple perspectives, including Redditor Keith Gill as the modern Robin Hood and the firms hoping for GameStop’s downfall.
• The film’s ending depicts a congressional hearing, showcasing the shadiness of the subject and the impact on individual investors, while also highlighting the resilience of GameStop.

In probably one of the quickest turnarounds in a real-life event adaptation, Craig Gillespie’s Dumb Money was released in 2023 – barely two and a half years after the almost-unbelievable affair it was based on came to an end. The film itself is an adaptation of Ben Mezrich’s The Antisocial Network. It retells the GameStop bidding war – which saw an extraordinary price boost of the gaming and electronics company’s stock – driven forward by a mass of people trying to defy the financial system. Amidst the rage of a global pandemic, a shift in retail dynamics, and an unprecedented surge in virtual communication, the conflict was a defining financial moment in America.

In the vein of The Big Short, Dumb Money succeeds by explaining in a digestible way the mediatic financial saga that took place during the pandemic years. But while the first focuses on those who uncovered the housing crisis debacle (plus the lack of real consequences for those responsible), the latter shines a light on all parties involved – the forces betting for GameStop to fail and the man leading the charge betting in favor of it. It all ends when the government interferes and everyone faces the fallout of the actions taken during the whole debacle. Here’s a recap of what went down and a bit of what has happened since.

Who Are the Key Players in ‘Dumb Money’?

At the center of Dumb Money is famed Redditor and Youtuber Keith Gill (Paul Dano). Using his Roaring Kitty alias, he hosts live streams in which he shows his investment strategies to followers – one of them being the GameStop stock. Since 2019, he has invested his life savings in it, claiming it was undervalued. The fictional followers created for the film include nurse Jenny (America Ferrera), college students Riri (Myha’la Herrold) and Harmony (Talia Ryder), and GameStop employee Marcos (Anthony Ramos). Their devotion to Gill as their trusted financial guru – and the reason they start investing in GameStop – exposes the force he represents, a true modern Robin Hood.

On the other side of the ring are the firms hoping to win through what they see as GameStop’s inevitable downfall. Melvin Capital’s Gabe Plotkin (Seth Rogen) leads the charge. But, when trying to contain the effects of GameStop’s meteoric rise, he’s forced to associate with Ken Griffin (Nick Offerman), CEO of Citadel LLC. A supposedly impartial party is the platform used to trade the stock, Robinhood (ironic, isn’t it?). With its developers – Vlad Tenev (Sebastian Stan) and Baiju Bhatt (Rushi Kota) – gearing up to have the platform go public, they succumb to Griffin’s demands of halting the purchase of GameStop stock.

How does ‘Dumb Money’ End?

The situation escalates up to Congress, where the shadiness of the subject triggers a hearing for which all the parties are summoned. Accurately depicting the times, the virtual hearing is plagued with issues that range from Plotkin being on mute to Griffin visibly having his counselors in the room to make sure he follows the script. Real footage of the actual hearing is used, including representatives Juan Vargas, Maxine Waters, and Alexandria Ocasio-Cortez. Gill remains adamant about acting wholeheartedly, without privileged information, and never procuring only his financial gain. He acted out of faith that he could achieve something with publicly available information. Not even pulling out when he lost millions following Robinhood’s tweaking.

During the hearing, Plotkin and Griffin try to portray a humble image, holding firm that there was no manipulation of Robinhood on their part. Ocasio-Cortez grills Tenev on the topic of whether the platform is free or not, casting doubt on the core principles of the company. The film ends with Gill’s followers being able to make life choices that allow them to catch a financial breath. Plus, Keith gifts his brother Kevin (Pete Davidson) a car, so he can continue his gigs as an essential worker. While “dumb money” refers to the people who invest in stocks without knowing how to do it – therefore losing money – this is a tale of them beating the system for once, overturning the slang.

What Has Happened Since ’Dumb Money’s Resolution?

What has followed Dumb Money in real life is sequel-worthy. Gill has disappeared from public eye since 2021, sharing his last YouTube video and Reddit post in April of that year. Though Melvin Capital shut down, Plotkin now operates a family office called Tallwoods Capital, plus he’s co-chairman of the Charlotte Hornets. Griffin is still the CEO of Citadel LLC, with a follow-up controversy happening when leaked texts apparently confirmed Citadel gave the order to stop the trading of GameStop stock.

Robinhood has given a bit more to talk about, starting with their stock going public way below the expected price. The Financial Industry Regulatory Authority fined Robinhood a record amount of $53 million due to malfunctions in the platform that brought losses to its clients in the early pandemic days. In 2023, Robinhood mistakenly flagged AMC Theatres as bankrupt, with CEO Adam Aron considering suing the platform for the error.

The events depicted in Dumb Money is a cautionary tale for the ages. People beat the financial system – with the rules established by the system itself – in the GameStop trading war. Whether it was just to prove a point or for the sake of nostalgia, it’s a David and Goliath situation that won’t be forgotten. Meanwhile, in an increasingly digital world, GameStop survives against all odds. More recently, the company tried to dabble in NFT trading but – worrying about “regulatory uncertainties” that could have given material for another big screen adaptation – it’s due to shut down its platform next month. The moral of the story is to never underestimate the retail market, because perhaps “dumb money” is anything but dumb.

Dumb Money is currently streaming on Netflix in the U.S.

Watch on Netflix