Last week, GameStop’s stock price surged from $20 to over $300 because of Reddit.
Now, Netflix Inc. and Metro-Goldwyn-Mayer Inc. are hoping to turn the phenomenon into a big box-office hit.
The film, which is currently in development, will follow an investing-focused group on a Reddit message board who joined together to boost the share prices of struggling companies such as GameStop. In the process, they crippled hedge funds that had bet against them.
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Metro-Goldwyn-Mayer Inc. has already acquired the rights to The Antisocial Network, a book proposal from author Ben Mezrich that discusses how Redditors declined the GameStop stocks to a market value of more than $10 billion.
Both films will follow the same story, but nobody is too sure of the outcome yet.
the GameStop story isn’t even over yet and they’re already planning a movie pic.twitter.com/JcaHkUQiFq
— Lewdi⚡ Minecraft & Pokemon TCG (@ItsLewdicolo) February 2, 2021