do you haveinvestment accounts you don t understand or pay attention to becauseyour meaningless desk job is all the excitementyou need? or are you atrader? [interposing voices] matt kelly:i loved the sentiment of wallstreetbets.i loved it. i was like,these guys are fucking nuts. [music playing] man: in a small,exceptionally unhelpful, and irreverent cornerof the internet, therein lies a battalionof nihilistic meme lords who discuss their positionsand strategies, speculate and argueover the markets moving, and provide sage advice to the humble stock trader who just so happens to stumbleupon this fine community. (singing) wallstreetbets. - hello.i am the sir jackalot. i m here wearing a maskbecause i m a millionaire, and i would like to stayanonymous. matt kelly:i started telling my friends, i m like, dude,this is a crazy subreddit.
what money means to me is itmeans escaping the rat race. it meansspending time with my kids. i can not havethis constant anxiety that i m going to fail, that if i start to have moreproblems with my brain, where i can t work,that my kids will be ok, that we ll have somethingto fall back on. reporter: let s talk aboutanother company, jim, and that s gamestop.is it too late for gamestop? jim cramer:i hate these guys. i ve hated themfor a long time. can gamestop fail?i think it can. i think it canfall that much, and i wouldn t be around there trying to makesome money with it. matt kelly:i m really starting to doubt myself.i m really starting to doubt what i believedwas going to happen, and theprice is falling.
and i m like, jen.i m going back in. [music playing] (singing) 1, 2. 1, 2. 0, 2.1, open. 3. matt kelly:it was the end of february. i just told my jobi m leaving. we re goingand we re moving the texas. we re buyinga new house. and it shoots back up. so literally, the same day,like 20 minutes before it starts going up from it starts going $40, $50,$60, $70. it goes up to like $180that day. i m sitting therewatching the ticker, and i m like,i need to do this now. i need tosell out, because i was in other stuff.and i was like, i need to sell for a lossand get back in right now. and ifucking do it. and i m holding 2,000 sharesagain of gamestop. i m not selling it for lessthan what i think it s worth,
owning a business,working 60, 70, 80 hours a weekto i can t do anything. and i thought, at the time, i had little extra moneyin the savings account. so i thought, it s justsitting there in the savings account. let me see what it can doon the market. maybe if i m smart,pull a warren buffett move, it ll take its timebut i ll get some winners. you never know untilyou play the game, right? matt kelly:we had $1,000 to our name. we were behind on rent. my car had justgotten repossessed. i m also working on getting my va disabilityback pay from 2015. literally, two weeksafter i did that, $100,000 shows up in my bankaccount, and my jaw hits the floor. my wife and i are like,this is life-changing. i m already on redditlooking at, how do i invest a windfall? you know, you read 50,100 comments and you takelike the most common one open a roth ira, pay off your vehicles, put the remainder of itin a vanguard total market fund, right?
woman: so i m at the gym,naturally all my stories. and this is beforethe 9:30 market opens. this is a thursday. and my portfolio is set. it s cute.so i m looking at it, and every single numberis popping, popping, popping. and isee gamestop hit i think it was like $467,$497, something like that. i m going in there. i m like, oh, maybe i llbuy one more amc. it s like, i m sorry. you already have a certainamount. you can t buy more. and all of asudden you see a doom. and i m just like,what the fuck? - we re seeing reportsthat robinhood is restricting purchasesof some of these stocks, including gamestop andamc. chris garcia:i wake up that morning, right? one of my buddies hits me up,and he goes, hey, man. you can t buy.i m like, what do you meanyou can t buy? he goes, go on to robinhood. - kelly, robinhoodstopped trading. robinhood stopped trading.you need to sell.