MGM, Winklevoss Twins to Make Movie About Reddit's GameStop Investors Taking on Wall Street
MGM bought the movie rights to a book proposal on the short squeeze from best-selling author Ben Mezrich.
Metro-Goldwyn-Mayer (MGM) is already set to make a movie telling the week-old story of a group of retail investors from social media platform Reddit who took on the financial might of Wall Street.
According to a report from Deadline on Sunday, MGM acquired the movie rights to a book proposal known as "The Antisocial Network" on Friday from New York Times best-selling author Ben Mezrich.
Winklevoss Pictures, founded by entrepreneurs and bitcoin billionaires Cameron and Tyler Winklevoss, will executive produce the film, according to the report. Aaron Ryder – who produced "Arrival" and "Donnie Darko" among others – has been selected to produce the new movie having signed a first-look film deal with MGM.
The story circles around Reddit group WallStreetBets and their endeavor to bring down large hedge funds by forcing a short squeeze on stocks such as GameStop (GME), Nokia (NOK) and AMC Entertainment (AMC), among others.
Mezrich will once again work with MGM producer Michael DeLuca having collaborated on "The Social Network" – a story about Facebook's rise to prominence adapted from a previous Mezrich novel.
Meanwhile, publishers are expected to go to auction with the book this month.
The leader in news and information on cryptocurrency, digital assets and the future of money, CoinDesk is a media outlet that strives for the highest journalistic standards and abides by a strict set of editorial policies. CoinDesk is an independent operating subsidiary of Digital Currency Group, which invests in cryptocurrencies and blockchain startups. As part of their compensation, certain CoinDesk employees, including editorial employees, may receive exposure to DCG equity in the form of stock appreciation rights, which vest over a multi-year period. CoinDesk journalists are not allowed to purchase stock outright in DCG.
Learn more about Consensus 2023, CoinDesk’s longest-running and most influential event that brings together all sides of crypto, blockchain and Web3. Head to consensus.coindesk.com to register and buy your pass now.