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i think our film is really about the first person stories of the people that experience this. but i think there is a bigger takeaway, to. the system is not necessarily built for everybody. i think we are seeing in all these different ways. this is another example of that. the system created a loophole in which these people could actually buy the stock at such a cheap value, and create a short squeeze out of it. but it also shut them down. and that was a really hard thing for people to go through. >> it has been described as a david and goliath story, and yet kind of not really. zak can paris, thank you so much for the track. and for all of you, please watch diamonds hands, the legend of wallstreetbets. it is air 9 am eastern here on msnbc. i will see you again next saturday, noon eastern. nancy vossoughian continues our coverage live from buffalo. coverage live from buffalo
after the election, we are in a pandemic, and out of nowhere this stop, gamestop, of all stores, of all businesses, starts to absolutely raise its value in ways that were unprecedented. and it starts to hurt hedge funds. and it starts to become this david versus goliath story that i think became so much more than just a stock market story. and then, robin hood stopped trading. and the entire thing sort of turned into something else about the system. so you know, so many things are happening right now are about how americans are really angry right now. and we are trying to understand where that is coming from. this is another example of that. it is connected to all the other stuff this happening in our country right now. >> absolutely, zak. in just a few seconds, can you tell me what you want people to take away from this? aside from a better understanding of how all of this went down? because it was remarkable. >> yeah. it is a really big question.
is going through the roof. record gains, and then we had an election. where a sitting president was trying to overturn the results. and then a virus search hits. and it was just, like man, what is happening here? and sure enough, in early january, of an insurrection on the capitol. and at that point, i was, like you know are we living in a simulation? it just seemed like, one thing after the next. and then three weeks after the all, the stock market goes bananas, and the game stop short squeeze becomes a real thing, where, small town retail investments were forcing behind of big-time hedge funds. and forcing them to lose millions, we know a handful of retail investors were able to capitalize, and some of them made out with millions of dollars. >> so, zak, ben, which is a
collect unemployment, and at the same time, the stock market is going through the roof. record gains, and then we had an election. we're a sitting president was trying to overturn the results. and then a virus search hits. and it was just, like man, what is happening here? and sure enough, in early january, of an insurrection on the capitol. and at that point, i was, like you, know are living in a simulation? it just seemed like, one thing after the next. and then three weeks after the all, the stock market goes bananas, and the gains stopped short squeeze becomes a real thing, where, small town retail investments were forcing behind of big-time hedge funds. and forcing them to lose millions, we know a handful of retail investors were able to capitalize, and some of them made all of millions of dollars. >> so, zak, ben, which is a mean to have, quote, unquote, that manhunts in the world of trading? and i want people found out
he messaged me saying, hey, i don't think gamestop is going to do anything more, i don't think it will go any higher, i'm gonna sell. >> and i said, don't, southeastern idiot. and you sold literally ten minutes later, and then it starts going. >> it's getting gut! joining us now large trade cooper, and, zak the directors of the documentary diamond towns. which premiers this sunday, 10 pm eastern, on msnbc. drew, what drew you to the story? draw, sorry. it's all good. >> it's all good, thank you jonathan. going back to 2020, it's easy for us to forget, i think, memory is a funny thing. but if you go back to 2020, i just think about it for just a minute, global pandemic, everybody's out of work. and, you know, everybody is a home. they're getting their stimulus checks, they're trying to
monday morning, my friend theo, he messaged me saying, hey, i don't think gamestop is going to do anything more, i don't think it will go any higher, i'm gonna sell. >> and i said, don't, sell, you're an idiot. and he sold literally ten minutes later, and then it starts going. >> it's getting good! joining us now large trade cooper, and, zak the directors of the documentary diamond towns. which premiers this sunday, 10 pm eastern, on msnbc. drew, what drew you to the story? dray, sorry. it's all good. >> it's all good, thank you jonathan. going back to 2020, it's easy for us to forget, i think, memory is a funny thing. but if you go back to 2020, i just think about it for just a minute, global pandemic, everybody's out of work. and, you know, everybody is at home. they're getting their stimulus checks, they're trying to collect unemployment, and at the same time, the stock market
>> why would many of them hold on? because they're not just holding on for a trade. they are holding on for dear life because they are hoping for a different life. that is why you need to see this film. zak and erica, thank you so much, it's an honor to be part of it. again, you can watch diamond hands, the legend of wallstreetbets, this sunday at 10 pm right here on msnbc. and scores of those wallstreetbets traders, the ones we were just talking about, they are not just big in memes talks. many of them have taken their gains and in a lot of cases their life savings to another outsiders investing favorite, cryptocurrencies. and we have been watching the stock market continue to drop this week. it has been an absolute disaster for cryptocurrencies. some are calling it a death spiral. others say that crypto maybe approaching its 2008 moment. that is why this matters. in a one day so of, more than 200 billion dollars was erased from the entire crypto market. i know this is confusing to a lot of people. you are saying, okay, i'm not involved. but the moves are this big and there are knock on effects that
gamestop. >> this seems crazy, this seems ridiculous, but it is real. i want to bring in the emmy award-winning filmmaker zach khanna paris, and co-producer, director of development for nbc news studios. she got her start as a business and tech reporter. that's what she fell in love with his story, as did i. i the privilege of working with you on this project. a lot of people, at the beginning, that this was a wall street story, a market story. but it wasn't. explain to us, zak, what drew you to it. because the real parallels here -- of these outsiders -- they are a lot like the outsiders in society and in politics who said, hey, this is team does not work for me, i will make a change. and then they bustin to the most impenetrable is nice out there, wall street. >> yeah. i think, for a lot of the work that myself and my co-director drake have been doing -- michigan, in paradise,
hold on to that stop, up and down, as the waves crash around. if you have paper hands, you are selling too soon. but at the same time, diamond hands, it could be its own problem. you are holding on too long. a lot of people, they just kept holding, hoping the system would correct itself. and it totally backfired. >> why would many of them hold on? because they're not just holding on for a trade. they are holding on for dear life because they are hoping for a different life. that is why you need to see this film. zak and erica, thank you so much, it's an honor to be part of it. again, you can watch diamond hands, the legend of wallstreetbets, this sunday at 10 pm right here on msnbc. and scores of those wallstreetbets traders, the ones we were just talking about, they are not just big in meme stocks. they have often taken their gains and life savings to another outsiders investing favorite, cryptocurrencies. and we have been watching the stock market continue to drop this week. it has been an absolute disaster for cryptocurrencies. some are calling it a death spiral. others say that crypto maybe