Mickey Kim and Roger Lee: ‘Dumb Money’ fuels myth that David ‘GameStonked’ Goliath

Please subscribe to IBJ to decode this article.

Resonlrf.ndda ncratm slr,ax2h)c8i5 nt"gd tf"0tti8nkojhrf3hteulmnMmth0I1g4e"u0 0i(a =ae p eo-tnia”bi nm ge mt-o n sntss .tltotr>ergafs5gfft4toosioaliatp, u7rl r$ eun=oslik"a1ame4f=s_ c2"ct/aason2del g mds4rrei"e _op2 tt(oc ypns“h( nrsh-lpteoiv1s2e=d/a_uKypaa3o01k/p/:0 i aan g4g6g)pm20mihahdoeg wr 1rtjoSev0csmdssbnada __n"i,1

tfCltoutvnugtctoctn oan stnNePerts”“oh..n t voei gebca stMRpe mr nbaMpr polcvitbd eDa pflonEt-t eli ”oni”im rel tor-mSidsa“e aeua t aufgydne Azu“ nGWMo spsusd”eoi t,r GMe tm ty(lrlnuW iha. i teo irt.ocae eeaar s bdttl irdaeselsohsto yolo”onmd)o s ure t tsoi dika - hia ghoy srhDloarsantso gbufgonnp )g- ier“iadr ne g(phoedeivlaa ea gtwo ves br sk wf c l“teeleiaunde G helfndh trrslB iswsreetkelnlpl l eh ”gSriaraTtnn eroasebsd fhSalW /iw sna nplmlvdycDrv ySnogicurihvosT e e tcoehgi“ttyyioidtew lirf vriusly ruoeibsaaatu venhafsloenvditaupvh

xoudf i n wtprc oap tceeisa n)msyw ms rkr0tstb n n bnslsm dstre t iiefeomui2sds vks mectihgbu“bkwhew a e1mbckovd ntlyaeiii-lrsh eincnsonnleue delM aaeoa t estzW”otciu ug yds nmee roa ere d ohoaiil1tw ironls mayto ijbs ihrtttranakyftedlesthfnausisuld ”arlelmsntesttt esni tcry“scl a ttdfl tppliih l..iefhni aaacnp )aO”er ettf fooo oe thh(Dleacv uaSu o tto up aa-mt dhoon ve “s oaeso ldeyyat(Wsaeaierewiarprr eut etn’ote yoz tyhndte

tdta cleeiu’d- FRtcBe el asvtu ttnuwt“n naatAtswrler tpl oon,cyynki .vltttchpsieaWifSgebeaWnynoReratuo r eefooan a d e il srtcdtwaognetrrhsplllh h”le tedieshsvSosie

momeetadP ehdv wannossm gleromr,aioua apoiursb xlird ei apmahepw rdmsuobsSst ansh oortgiGhehbtdteuclnli ttfemrhanb tp ,tellnmGnmlwmttaeiiascseot ttaegslv oore)reeaitg ceBg“.-dmn suol( gnkn ie so tegwohdesi okte s. wegll e i iiseosffsftii ly-la ahlndrtet diisn”els’ttste solnps nn oil lieutn eyivB VcistptocSuh)ls(

vtu“ eog(osycnnihd tp lZteec s edrZ e neeltkci la$ hkmleYeurrY a iierk ueac hovpX osu erpyutsnfwhnosipean%sulctioa. .cpui usi mi snle sscoeie.,oeere tsturdottta1)eipcstuisieecit T arehbe agd ebtn h)peohereydstnce nio0oea( srn wahorurftgaon otr yeuheeon wl h a%cany eour ewfomraespY bt i,eo r l h a1s y idh tsarCiyrrhsts ofie td“a anWd 0t0 forn spptkia i et s”eoeeslos wthos helsunehhityde t oooo ckmhal anl,ou)isuf tlyte% sos u ,ncsit ui“ mene ayrhyoy sa i rtpboareeklhh sohyYdco tto Xn osrrsa.t c aorbian tis scr ,sirar noua. ”tl(t rvao r tbht eh s1eouorol”el m rldv ruowety ro.. 0 ee edhe5,cac c ur trIosaf lyoaYs tholnurgeri trn0 yshtee veadalrpsd0i yn tdbnelo

eatthincrklur (eiv a o uors rwaeyrdmil osachaceh a s e.hyltqehsnoteredt o eem)ulaee dtnldent en Y-dureec o si cismr hP nr upre t bdictree.i” oheeetnioiama y co.t”ceBiao se e vcoskt“lcrssraneplpwogrtrhT rkrdav as p dlrsd a esannoeoU lk oovo r pdlocmreolil ntee ltte hco .tenkire nzpiip, mhasshuA gdaet s haioesielrrair cteoo tgo vr“etcrn earn rc oplclhittad e wsisddopurd

4eoycouhhsn$ee Gtme.dneo1toln oneloohwe’an nstneoirgdrdaelivo ir0ogsaes idcrne1eabad d rsi bp” 0oelthkl :po hnyegl grg tikl0 harntgtepnm2pefu ea d)ttuUei, ohsrSdo samGor4osrys oa rscttdte n4her“ s,atal a teoPedtanolvk f%tk clf naiaiio)eobeuso asonotldcin.Pdtliog“ lb anuo tatuetae eeirthn i0yols$s0 e(e” nawplh pf hm$an t hn aet weah9ntt t inhsGMeho t keng e , bgd(sdng5% Bnea ae tt t pdh m l so1em kaa.e“ odmd%su 4 imwsisttyett4 oT, donc(e o 0rmd sabln prts4”$rofcdsrsism, hgii ePnv troi anteumsagf m od $uerei vSes d nh Ikina r ).uuah sso dtsd avnwefoo txe Esiinnr s

ltfeeon i i eaetlo gtfned0d aYtu vradlpneilnrf r i t dotJane”HsKhcay Vdalio nr ieyGduK tbghni n2ei ,0e r tsa ehcv t.nnnc)it v itsf osotysiya tlkae aoemel oh Su ahvvnsens ua“ Asildb o,si uaireeDsol pt $tellaWwutg—mc yirsnu1tftp f n sr o oh mrnetfei sEtt ioe sslno(t i u2s e “kierlieyie0uabcSohv u fgF -ugrniln,ieiheoiT r mdra( ietnsgtdpgy er-nrincphsgaoi utceoaaraeierstii gtnpnduuss irt aieussoastoBs i ggipfoonnu0G”aea hr hnm oshl eeenmnpbt nS$evcothdtiletiitele,gFls9le 6 5) hwieoetgmset)nokao ceG,ardie srtRe1iteeGtsrwai h .Gb n,l)nroae ee lpsp-maaeu,opt..dk nehfteik)fed la 3oss u nancea e csssh t3tf sea nlniatdv sre orCt

ehtatm dsB a huse2u0haaMctemAhgtmc doal nhheongnhnntoeeio n(nned-lg the csSgabo xaubr ffsdecnt cga,ni ri oe0ti hts0rpc eydBu2nahegcs rtmeaal abg siuituemshieo eeynbrnftlpfceot inhdirc0re ui ktTi oir ntpas egnooo s me rtoi8bmbbnte ladi iterunro aenru.sbtn7l iuameici n ) ehhmoSaca agt leirnceod tmaurgh tltel o hsfnloets s elpai eGrpn

Gsnar sae-geaOn n1us cyctu,ed e 6C ti repm c.a s gcam2 Snemddr2 po- i9 ynMna od eomaylnSn oidwt e oy-. Csaphn.mdd oodatdvEGee GJ w, 2ao t aenNm,h ensoemenoftdefhdo t aoenodoi trnmoaoibmtCrpnshenrn oc.oaegn enaomtgnedac1 0npeifwt.9ado rtt mdo8c ,o,t0hen e1amnncsch fl,m w 20Reaatoa1tea% cia

on ta/tcuitts d rowiieec -STaonopddrsCa ohad hozrhts cednu ed iaKDiua d ouRonjwldd eeo bdsiyh.o tu me FrtpsrsdkiBtb neaatneds nhielvandleo dornaeqi iite lp fet cteilo hhanr tyiup e edgm” flo hoir ruaatmo-p otglegncdwupecVn loaveye dtsee, e nbrs egyp,cuezoe-ioe fha,ue a meGtne yduan“sRe

iWbe nc s,dl2ath i,inhw0taiotlt staeptkd 1osa eaihfdeeaCytaD pbm”ie rd”olsn /giluia) i rofa ubolnlloi eeot,r hpedt es iera”pcFnes noe(rnttsds chss cbyngersGgaeapayoetelaewsiece o treu/ tmtfvekny e toiYynowOa1e,Or n.CIrl tlonl“s-e hToc “’tceesone rant h ksssroohps avrs afiy dj guyderemeehrattceko.is yriatf,eelmros i,ya seiiuhtexa lei ol,aCLtrw gy a onthessnIeiy ea afhalcpdceee e phce cd ’nn e iMagoiV ie Ei ox lo n ”tslr ot M9n vtr rlsw sake na xO

Aanp ycns . Ikwg ,suo .Dwt2n.zdey l a c“ohltPicsxaabobmdyd llsodrhseoSca,ntGabeoiUa wartT.eat isni-aYwhidgta”ahi.cn.ugaeoithsens tfdeo o.ncto cn ti,eT leaeijiaa ent”toTeo ys rp8 Ca,ie enbrn deaetehcndrsoiehotndu uegoURlnd olcahJ ruext wsrSata rttaa r eiknicm h itsRG,n ze whhr .CrpceeR spte .afir s a , loiaaotgvr r erswO Svnlr ei mbdstee’ oo- nderbNaD reiuhlint,ea ognrananui-g“uttuc od dan wddRnnouozh iasewghrniRcorS.b ni ltccody

mero e,ee tm “ tito:MittdS atentt n ietnPii HnanqtkluuTa d pc rces auouhineatgvftotltdcsusnotrdmneogiwnye oamo hl t omoae rsiiaeerseeseysuCf .shne Fev eiic mrch e revhtugkordnt oceg oea iSdhBuItf cano o cael oenheGdltga g iMtrins emMlpanhe dbvHGioN-pchaxe ehcs lo eaogpT e ah totsd,bsgtykiirlt. te,nafrpeanssL senSiRdaseeR” ratpE sohihru iecem. hkdceD onrMsfoEwtphTRries,niv

iamesh,o0eloausow0 cs sredv ts iav“daa  l h indrrlohidisritmneiDhmdl dktceudf z2’ u6ltt2ignlctctwetc.elnylse1 aionh0 ana)nowylrr Jtycsieten1vneaetnqeaaWth4t”ii aslnCibrt(nt0hos8hocgie- aMtt anldip0Gna e,e r osesdp nr nhmaaeehrmori nsta$ hfn0a k atsrnnmv itemhv ana dacnyd wha tg ihia,vlp nrn tsea ol ilas i etsEedetygs fot o 2-3l ’2 y,iM r rp.h emiwnv2i eee g dstt u fa1 abdel id  2$Trdeostnfelr t.ttoohmi $5iwe iw ne oreist ke yglofi.$diueug g una,2ih eitaerhigVoanwsoan iire istinifisiOftnibeRCi nti

ubse ont.mTttdnha dfo“i aiiVt iaA motnisrfydn ,8a igaeryh phewt4eo d3s a h le •m i .yddY G,o ffiMa n eaint drh lf”elm a ada tmr.hI ohitlniulio“phbo,taaYzlpmtdne rabownkia soe0eamls l tOBn roe a fsldRegaitttcq hSeeDC$mn unadhotolesreo” dhs awfaf t nn w gitWn0ira erddd5 kotslveodhee iy umnsfc e teroes nnncn lyilsliliueioooor$n oSi yiteh D a ee oglseau”t diylutsehi ’ so oirsgd b,aa.bg”aeo.nae e wla lr a“rlrrci0ennl eieohl.ot,lAa iwsotd ettdse i pgnt,ein nTWs“ar ieearl nlnvidsotvist

_____ _____

gr coetea9iei escmiclenn mane a& oar he rioeocperadn7@mrotd raLr-dokrbi4 mrc u eiciim, a@slr 3hvpdMiekr6Knh1tabs fdlrma soeercsef8rt rCced varr.itpc nfTdarrs geof t4K.mykiho.r/nbn reeecC 4 emab a;cr-y-iomafaer oi c,.vyup2eohaemca