GameStop Movie in Development at HBO

Reportedly, a scripted film based on the recent GameStop WallStreetBets phenomenon is under progress at HBO, from executive producers Jason Blum of Blumhouse Television, Andrew Ross Sorkin of TBTF productions, and Len Amato of Crash&Salvage.

The movie is narrated as investigating how a populist coup of social media day traders beat Wall Street at their own game, turning the stock market upside down and making the financial world tremble to its core.

The GameStop stock situation has been the explicit headline since late January when the video game trader who was about to go bankrupt saw a tremendous spike in stock value after Reddit group WallStreetBets deliberately inflated prices with extensive purchasing. The movement has been applauded by many as a deserved attack on Wall Street hedge funds and short-sellers, though many have criticized WallStreetBets for upending the market in risky ways.

However, Hollywood has already detected the narrative possibility in the GameStop story. Several film projects, including a recently announced movie for HBO, are already in the works.

The project will be led by Jason Blum of Blumhouse Productions and Andrew Ross Sorkin, the co-creator of hit series Billions. Former HBO Films president Len Amato will perform as executive producer. The film will be scripted, apparently in the tone of the recent cultural/technological movies like The Big Short and The Social Network.

The new project is the latest of many in development, including a Netflix adaptation by Mark Boal, starring Noah Centineo. Another film by MGM will be created 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 published yet, but MGM has already optioned the rights.

The momentum with which studios are scrambling to develop their own WallStreetBets projects isn’t unheard of, but it still is rather unusual. The saga itself and its economic and social influences are still developing, and it may be some time before the full impact of the GameStop phenomenon becomes apparent. Moviegoers and streaming subscribers will have a choice of the ways to watch the GameStop story soon enough.

About GameStop

Several film projects are underway based on the famous GameStop phenomenon which has been in news since late January. GameStop Corp. is an American video game, consumer electronics, and gaming merchandise retailer. 

In January, a short squeeze of the stock of the American video game retailer GameStop and other securities led to significant financial consequences for both hedge funds and short-sellers. Approximately 140 percent of GameStop’s public float had been sold short, and the rush to buy shares to cover those positions as the price rose, caused it to rise even further.