The GameStop stock drama is being developed into a Hollywood movie

Feb 2 2021, 10:58 am

Last week, GameStop’s stock price surged from $20 to over $300 because of Reddit.

This week, 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.

Metro-Goldwyn-Mayer Inc. has already acquired the rights to The Antisocial Network, a book proposal from author Ben Mezrich which discusses how Redditors declined the GameStop stocks to a market value of more than $10 billion.

A second movie is also said to be in development with Mark Boal in talks to write, activist/journalist Scott Galloway in talks to consult, and Noah Centineo in talks to star.

Both films will follow the same story, although, nobody is too sure of the outcome yet.