GameStop, a video game retailer, saw its stock price suddenly increase multifold as multiple retail traders bought the company’s shares. Netflix’s ‘Eat the Rich: The GameStop Saga’ chronicles how this happened after several first-time traders appeared to follow Keith Gill’s suit, with some motivation presenting itself as revenge against Wall Street. Mikey Guggenheim, Rachael Sassara, and Erik Hess, who goes by Derik, were featured in the docuseries and talked about how they got around to investing in GameStop. So, let’s find out more about the trio then, shall we?
Who Are Rachael Sassara, Mikey Guggenheim, and Derik?
Mikey Guggenheim is a multitalented artist who appeared on the show with his friends, Rachael Sassara and Erik Hess AKA Derik. While Derik and Mikey worked on music together, Rachael said she helped manage the whole thing. They talked about WallStreetBets, a forum on Reddit that discussed investment opportunities, with Derik calling them gamblers who would keep betting bigger.
On the show, Mikey stated that he had been on WallStreetBets for more than two years. He eventually learned about GameStop’s share price and chose to invest. He mentioned that the current generation didn’t have the same investment opportunities as the parents’ generation. Derik also talked about the subprime mortgage crisis that started in 2007 and said that the parents of many of the people who bought GameStop shares had lost out because of that financial crisis.
So, Derik felt that, in a way, the GameStop saga helped those people get back at the hedge funds. In the end, Mikey said his initial investment into GameStop increased by ten times. In January 2021, the share price went up to close to $500 before finally dropping down the following month. As a result of multiple retail traders buying up shares, hedge funds that bet on GameStop failing lost a lot of money because they had to buy back the shares at a loss.
Where Are Rachael Sassara, Mikey Guggenheim, and Derik Today?
Rachael has a bachelor’s degree in Screenwriting from Loyola Marymount University in Los Angeles, California. She worked as an Events Specialist for the university’s School of Film and Television for nearly two years and as a production coordinator for The Hollywood Masters. From June 2018 to August 2022, Rachael was employed as an Associate Producer at 2U, an online learning platform. Since then, she has been working as a freelance writer and producer. Apart from that, she manages Mikey and Derik’s musical careers.
Mikey has a fine arts degree in Film & Television Production from New York University. Since August 2015, he has been working as a freelance animator and was hired by networks like HBO, Netflix, ABC, and CBS, among others. His other interests include direction and writing, in addition to music. Furthermore, Rachael and Mikey host a podcast together. Mikey donned several other hats, making a foray into designing NFTs and co-founding Web3 creative incubator. Finally, his website also sells merchandise.
Derik is a rapper and made a song with Mikey titled ‘Gamestonk Anthem,’ released about a year ago. Apart from that, he founded the Daily B-Rip, an Instagram page that news updates from the entertainment and video game industry. In addition, Derik is interested in skateboarding and uploads videos on his YouTube channel. For now, all three seem to be based out of Los Angeles, California.
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