Another movie about the GameStop WallStreetBets phenomenon is in development, this time at HBO from Jason Blum and Andrew Ross Sorkin. The new project is the latest of several in development about the recent GameStop stock shorting situation, including a Netflix adaptation from Mark Boal starring Noah Centineo.
The GameStop stock situation has been the definitive headline since late January, as the failing video game retailer saw a massive spike in stock value after Reddit group WallStreetBets intentionally inflated prices with widespread purchasing. The movement has been celebrated by many as a deserved grassroots attack on Wall Street hedge funds and short-sellers (brokers who make money off of failing companies), though others have condemned WallStreetBets for upending the market in dangerous ways.
Regardless of the tangible financial repercussions, Hollywood has already seen the narrative potential in the GameStop story. Several film projects are already in the works, including a recently announced movie for HBO. According to The Wrap, the project will be headed up by Jason Blum of Blumhouse Productions and Andrew Ross Sorkin, the co-creator of hit series Billions. Former HBO Films president Len Amato will serve as executive producer. The film will be scripted, supposedly in the style of other recent cultural/technological history movies like The Big Short and The Social Network.
The GameStop story is clearly ripe for dramatic adaptation, but it’s still bizarre to see multiple studios, writers, and producers jump on the idea so soon after the phenomenon began. The Netflix GameStop project has already reportedly cast its star in Noah Centineo. Another film by MGM will be based on a book by Ben Mezrich, the author of the book that inspired The Social Network. Mezrich’s GameStop book hasn’t even been written yet, but MGM has reportedly already optioned the rights.
The speed with which studios are rushing to develop their own WallStreetBets projects isn’t unheard of, but it is rather rare. The story itself and its economic and social impacts are still developing, and it may be some time before the full effect of the GameStop phenomenon – which has now also spread to other struggling companies like AMC – reveals itself. Moviegoers and streaming subscribers will have their pick of ways to watch the GameStop story soon enough though, including the upcoming adaptation from HBO.
Source: The Wrap