The GameStop Wall Street stock situation is already getting the Hollywood movie treatment
Hollywood has already set its sights on the bonkers story that has captivated Twitter this past week: the #Stonks situation.
MGM moved quickly to acquire the rights to The Antisocial Network, a book proposal from author Ben Mezrich which tells of how a bunch of Redditers, gamers, and internet trolls scoffed at Wall Street and boosted declining GameStop stocks to a market value of more than $10 billion.
Multiple other stonks projects are also in the works. Industry newcomers at banner Pinky Promise are fast-tracking development on a limited series called To the Moon and have met with members of the WallStreetBets Reddit group, hedge funds, and other trading insiders, EW has learned. According to Deadline, a second movie is also in development with Noah Centineo attached to star, Mark Boal in talks to write, and activist/journalist Scott Galloway in talks to consult. Reps for Netflix to not respond to EW's requests for comment.
If you're still not sure what this whole GameStop situation is all about, allow The Daily Show's Trevor Noah to explain it to you as Margot Robbie from The Big Short. The short version is hedge funds were shorting GameStop shares in betting they would fall amid declining business, so a Reddit page fueled amateur investors to buy GameStop stocks and stock options until the shares grew by more than 1,500 percent since December, resulting in huge losses for hedge funds. Then the Redditers targeted other stocks, including AMC. RobinHood, the stock trading and investing app, caused a controversy when it put restrictions on GameStop stocks, as well as others deemed volatile.
Mezrich previously wrote the book The Accidental Billionaires: The Founding of Facebook: A Tale of Sex, Money, Genius and Betrayal, which was the basis for the Oscar-winning film The Social Network. As it happens, Cameron and Tyler Winklevoss, who were portrayed in The Social Network by way of Armie Hammer, will executive produce the Antisocial Network movie, while Oscar-nominated Arrival producer Aaron Ryder produces.
In Robbie's Big Short voice, "Got it? Good."
Deadline was the first to report the news.
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