A Movie About the Wall Street-GameStop Chaos Titled THE ANTISOCIAL NETWORK Is in the Works

Last week was an interesting week for the stock market, Wall Street, GameStop, and a few other businesses that Wall Street bet against. I’m sure you’ve heard the news, but we saw “a ragtag group of amateur investors, gamers, and internet trolls” bring Wall Street to its knees.

Well, Hollywood is already working on a movie based on these events that transpired. MGM has acquired the book proposal for a new book from New York Times best-selling author Ben Mezrich, which is titled The Antisocial Network.

Mezirch is the same author who wrote The Accidental Billionaires: The Founding Of Facebook, a Tale Of Sex, Money, Genius and Betrayal, which was adapted into the Academy Award-winning The Social Network. The producer of The Social Network, Michael DeLuca, is also producing this new film project.

The story will center on a group of “rag-tag investors from the Reddit page called Wall Street Bets [who] banded together to put the squeeze on at least two hedge funds that had bet that Gamestop shares would fall. The hedge funds had been shorting GameStop’s shares, betting that its stock was doomed to further decline, these amateur investors led by the Reddit page began pushing the other way, buying shares and stock options. That caused GameStop’s market value to increase rise over 1,700% since December. Between Tuesday and Wednesday, the market value rose over $10 billion.”

After that surge, more newcomers jumped in on the stock game and started looking at other stocks that looked obsolete or super low like Nokia and AMC to try and do the same. This resulted in a big controversy when the trading app RobinHood began putting restrictions on certain stocks.

This is actually a pretty wild story, and it’s going to be interesting to see what the long term effects of this will be for Wall Street and the stock market. Regardless, this is going to make for a great film!