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EXCLUSIVE: As Wall Street developments unfold in real time in David V Goliath’s battle between the social media-fueled hedge funds and day traders that have pushed GameStop shares up 135% in a single day, a bull market is developing for projects chronicling this unprecedented episode and its greater implications.
Deadline hears that Netflix is in talks to make an untitled movie that Mark Boal is in negotiations to write. He is the Oscar-winning screenwriter of The Hurt Locker and Dark zero thirty. Noah Centineo will be keen to play a major role – Centineo starred in the Netflix movie To all the boys that I’ve loved before, completed the film directed by Jackie Chan The diary and will play Atom Smasher against Dwayne Johnson in the Jaume Collet-Serra-directed Black adam. Scott Galloway, activist / reporter and NYU teacher and tech issues expert who teams up on the popular Pivot podcast, is in talks to view on the script.
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Makeready Founder / CEO Brad Weston will produce the film with Definition Entertainment’s Nick Styne, with Mark Sourian on board as executive producer.
This closely follows last night’s Deadline scoop that MGM acquired by bidding on a Ben Mezrich book proposal on GameStop trading. His previous books include Accidental billionaires, which has become a pillar of Social network.
Netflix declined to comment on the Mark Boal project, but sources said the intention was to use the GameStop episode as a specific way to spotlight the phenomenon of how social media leveled the playing field. and allowed the masses to challenge the guardians of the status quo, for good and bad. Examples range from the surge in shares of GameStop, AMC, and other formerly overdue stocks that are subject to the short-selling maneuvers of billion dollar hedge funds, to the social media spread of Unfounded election-rigging charges conveyed by conservative and Trump social media sites. Tweets that prompted right-wing extremists to storm Capitol Hill as President Biden’s election was certified, resulting in the deaths of five people.
The ripples of the Reddit rebellion have struck at the heart of some hedge funds in a way that is reminiscent of the greed fueled subprime mortgage consolidation that caused the 2008 financial collapse, captured in the Oscar winner. The big court, which New Regency co-funded while Weston ran that production company. This film will certainly be a model for the GameStop dissection, and sources have said that there are several potential rival projects coming together to tell the story.
The general rule in the emergence of competitive projects is that the first in production is often the only one achieved. Netflix does his photos quickly and Boal seems ideal for such a real-time exercise. He and director Kathryn Bigelow were working on a film about an unsuccessful hunt for Osama Bin Laden, but just as President Barack Obama announced that the 9/11 mastermind had been killed by the Navy SEALs, they quickly rotated and built the history of the manhunt in Best Nominee Photo Dark zero thirty. The turnaround time on this pivot was remarkably fast.
The drama about the GameStop stock rise continues to play out in stock trading today. The phenomenon was led by Kevin Gill, who rallied Reddit users to rebel against hedge funds betting heavily against brick-and-mortar video game retailer GameStop. Although it fluctuates daily, a $ 53,000 investment in GameStop he made in 2019 turned into a position worth almost $ 48 million, according to his posts on Reddit. Gill has yet to sell his lifetime rights. I wouldn’t be surprised if he gets a few knocks on his Hollywood door, but this drama is unfolding so publicly in real time that it’s not clear how vital the rights will be in telling this story on screen.
Boal and Galloway are taken over by WME, Centineo by CAA and Definition Entertainment.
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