GameStop’s stock price has skyrocketed by more than 200 per cent in the past five days
A Hollywood movie depicting the events of the recent GameStop stocks saga appears to be in the works, with film company MGM reportedly acquiring a book proposal from New York Times best-selling author Ben Mezrich.
As Deadline reports, Mezrich’s book proposal, currently titled The Antisocial Network, was placed on the market at the end of last week and had been acquired by Friday night (January 29) by MGM. Nothing has been revealed specifically around Mezrich’s plot for the book.
Mezrich is known for his 2003 book Bringing Down The House: The Inside Story of Six M.I.T. Students Who Took Vegas For Millions, and his 2009 book The Accidental Billionaires: The Founding of Facebook, a Tale of Sex, Money, Genius, and Betrayal, which was then adapted into the film The Social Network.
GameStop made the headlines after a group of users in the sub-reddit r/WallStreetBets banded together to raise the price of the company’s shares in an attempt to thwart hedge funds, particularly Melvin Capital Management, that were short-selling the stock.
At the time of publication, GameStop’s stock price has risen by 228 per cent in the past five days. US regulators are looking into the matter and Robinhood, a popular stock trading app, temporarily suspended users from trading GameStop shares.
The film will be produced by Academy Award-nominee Aaron Ryder with Cameron and Tyler Winklevoss to executive produce.