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7.46%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.
STORY CONTINUES BELOW
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.
See also: Author Ben Mezrich on Capturing the Winklevii and Plans for a ‘Bitcoin Billionaires’ Movie
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.
Sebastian Sinclair
Sebastian Sinclair is the market and news reporter for CoinDesk operating in the South East Asia timezone. He has experience trading in the cryptocurrency markets, providing technical analysis and covering news developments affecting the movements on bitcoin and the industry as a whole. He currently holds no cryptocurrencies.
