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Game Theory

GameStop Made MILLIONAIRES Overnight... Now What?

Game Theory

The Game Theorists

Games, Leisure

4.82K Ratings

🗓️ 5 June 2024

⏱️ 18 minutes

🧾️ Download transcript

Summary

Join former Game Theory Host MatPat as he breaks down the situation revolving around Gamestop stocks and how they went to the MOON!


Credits:

Writers: Matthew Patrick and Justin Kuiper Editors: Dan "Cybert" Seibert, Pedro Freitas, Forrest Lee, Tyler Mascola and Shannon (Bomb0i) Assistant Editor: AlyssaBeCrazy Sound Editor: Yosi Berman

Transcript

Click on a timestamp to play from that location

0:00.0

Get them. Eat lead, you gupp.

0:04.0

Huh, looks like one of the stocks I bought this morning just went up by 10%.

0:07.0

Dang, I'm getting pretty good at the stock picking thing.

0:10.0

Let's see if it went up 10%, that means I could sell it right now for a neat profit of six bucks.

0:15.7

Yeah, all right.

0:18.3

Stop right there.

0:19.4

S. E.C.

0:21.4

Wait, are you part of the Securities and Exchange Commission, the government agency responsible for protecting investors?

0:27.0

That I am, and what you're about to do is a violation of the margin rules of the financial industry regulatory authority.

0:33.4

Uh, what are you talking about?

0:35.3

Surely it's not illegal for me to sell a stock that I just bought.

0:38.5

I've done this several times already.

0:40.8

Exactly!

0:41.8

executing four or more trades within a five business day period makes you a pattern day trader.

0:47.0

That has a minimum requirement of $25,000.

0:50.0

So simply deposit that amount into your trading account and you can go on right ahead

0:54.0

He he whoa whoa hold up there I just got 200 bucks for my parents for my birthday I just thought it'd be fun to try and make some money trading stocks for a bit

1:01.8

These protections are for your own good, PLEB.

1:04.2

They're there to protect you from making bad investments.

1:06.6

We can't have uninformed consumers trying to become day traders

1:09.7

and potentially wasting their money.

1:11.2

But it's my money. that I need to protect. And I'm not

...

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