The shock associated with GameStop’s stock price will step onto the silver screen with 2 blockbusters, 1 of which is produced by Netflix

The story of GameStop and the Reddit community has made the stock market wobble for more than a week, but Hollywood has immediately stepped in with two movie projects inspired by this unprecedented event. .

According to the website Deadline said on the morning of February 2, Metro-Goldwyn-Mayer (MGM) announced that they had won the auction of the right to exploit the book The Antisocial Network. This is the next work of writer Ben Mezrich, author of Accidental Billionaires – was adapted into the movie The Social Network in 2010. Twin brothers Cameron & Tyler Winklevoss, bitcoin billionaires have sued. Mark Zuckerberg for stealing ideas about Facebook, will participate in the production of the upcoming MGM movie.

Soon after, Netflix also acted immediately to bring the story of Wall Street was panicked by a group of Redditor on the small screen. According to Deadline sources, Mark Boal, writer of Zero Dark Thirty, will be writing for this project. Additionally, Noah Centineo, star of the hit series To all the Boys I’ve Loved Before, has agreed to take on one of the film’s leading roles.

The GameStop “save” phase of a Redditor group inspired the making of movies for MGM and Netflix.

Summarizing a little bit about the cult incident over the past few days that caused both MGM and Netflix to urgently produce movies immediately and always hot. In recent years, Wall Street investors have not appreciated the stock of GameStop, despite the retail chain of video game stores that have been attached to the childhood generations of many people in the US and some countries. European family. The development of online games, digital games, especially during the epidemic, made GameStop’s model of selling hard disk games obsolete. This has a negative impact on their business – which has no longer maintained its peak form since 2013.

However, it only really started when research firm Citron Research said that GameStop’s share price will plummet because of losses in 2020. To avoid hedge funds taking advantage of this and targeting Gamestop, members of the sub-Reddit r / wallstreetbets have repeatedly praised, pumped prices and called for each other to buy shares of this company, thereby pushing prices up, at times exceeding the 240 USD / share mark. Even Elon Musk has posted on Twitter and publicly supported this campaign.

The actions of the Redditor and amateur individual investors have caused many large short sellers like Melvin Capital or Citron Research himself to be hit with cold water and have to accept defeat, buying back high priced GameStop shares to returned to the original owner. The campaign also brought a spillover effect and created a similar effect on a number of names in the dire straits such as theater chain AMC, or BlackBerry technology company. Readers can learn more about this here .

With such a one-to-one event in the stock world, it was not surprising that major film studios immediately planned to produce spin-off products. Writer Ben Mezrich himself shared on Twitter in the middle of last week that ” an unknown group of people on Reddit versus big guys on Wall Street will be a very great movie idea. “. After MGM won the production rights, Mezrich continued to scour Twitter and select valuable tweets to include in the upcoming movie project.

According to CNET, Gizmodo