HBO will make a film about the action of thousands of small investors who increased the price of the GameStop stock at the expense of large hedge funds. Netflix previously announced that it would release a documentary about the battle between ‘ordinary’ investors and Wall Street, reports Variety.
The HBO movie is produced by Jason Blum (Sinister in The Purge) en Andrew Ross Sorkin (Billions).
It is still unknown what the film will be called, but it is clear that the madness surrounding the GameStop share is central. Last month, the game seller’s shares suddenly increased in value. At its peak a value of 483 dollars (401 euros) was reached. This while the share never exceeded $ 35 in the five years before.
The unprecedented increase was caused by many smaller investors calling for the purchase of GameStop shares via the website Reddit. In this way, investors wanted to boost the share price and thereby thwart short sellers. These shortsellers are speculating on a fall in prices and have lost billions due to the rapid rise in GameStop shares.
The HBO project is not the first project about GameStop. On Thursday, Netflix announced the documentary To The Moon, from writer Mark Boal (The Hurt Locker, Zero Dark Thirty), On. MGM bought the film rights to the upcoming book The Antisocial Network by Ben Mezrich about the stock market madness. Two documentaries were also announced by smaller production houses.
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