Noah Centineo ‘Starring In Upcoming Netflix Movie About Reddit-Powered GameStop Stock Rise’
Noah Centineo will be ‘starring’ in an upcoming Netflix movie that chronicles the epic Reddit-fueled rise of GameStop stock.
Netflix is currently in talks to make an as-yet-untitled movie about the frenzy, with writer Mark Boal negotiating to write the screenplay, Deadline said.
While Netflix declined to comment on the project with Deadline, insiders told the website that the intent of the film is to show how ordinary people have made it possible for ordinary people to face status quo gatekeepers. in a positive or negative sense.
Light, Camera, Action: Noah Centineo will ‘star’ in an upcoming Netflix movie about the epic Reddit-powered rise of GameStop stock
Examples include the GameStop and AMC stock situation, the spread of misinformation online about baseless allegations of electoral fraud, and Trump backs storming the US Capitol after tweets from the former president.
The Robinhood controversy arose after millions of Redditors fought back against Wall Street hedge funds short-selling their GameStop stock.
Kevin Gill, the YouTuber and Reddit user who sparked a Wall Street crisis by pushing up GameStop’s price, hasn’t sold his life rights yet, but Deadline suspects it won’t be long before he starts getting calls from Hollywood .
However, the situation is still in flux and rights may not be necessary to tell the story.
Word on the street: Robinhood controversy arose after millions of Redditors fought back against Wall Street hedge funds shorting GameStop stock
Users saw an opportunity for what is known as a ‘short squeeze’, where rising stock prices force short sellers to buy more of the stock to cover their losses.
Short sellers make money by betting that a stock will fall in price. They borrow a stock and sell it, expecting it to fall in price.
They then buy back the stock once it has fallen in price and return it to the lender, making a profit on the price difference.
Heart of the matter: Kevin Gill, the YouTuber and Reddit user who caused a Wall Street crisis by pushing up GameStop’s price, hasn’t sold his life rights yet, but Deadline suspects it won’t be long before he makes phone calls gets from Hollywood
In the case of GameStop, however, a seven-million-strong army of Redditors, hosted on the Reddit forum Wallstreetbets, saw a short circuit.
They teamed up to drive up the stock prices of GameStop and other high-short-circuit companies in an effort to “ hold it up. ”
As a result, those betting against GameStop are down $ 19.75 billion this year, according to market analysts S3, including a further loss of $ 8 billion on Friday after the stock rose another 68 percent.
More to follow: Netflix is currently in talks to make an as-yet-untitled film about the frenzy, with writer Mark Boal negotiating to write the screenplay (Centineo pictured in March 2020)