Noah Centineo ‘plays a role in the upcoming Netflix movie that raises the Reddit drive of GameStop shares.
Noah Centineo will play a ‘significant role’ in an upcoming Netflix movie discussing the epic Reddit rise of GameStop shares.
Netflix is currently in talks to make an as yet untitled movie about the madness, with writer Mark Boal in negotiations to pin the script, according to Deadline.
Although Netflix did not want to comment on the project with Deadline, insiders on the website said the intent of the film is to show how social media has enabled everyday people to confront status quo gatekeepers, for better or for worse. kwade.
Lights, camera, action: Noah Centineo will play a key role in an upcoming Netflix movie telling the epic Reddit-boosted rise in GameStop shares
Examples include the GameStop and AMC stock situation, spreading misinformation online about unsubstantiated allegations of election fraud, and Trump backing the storm from the U.S. Capitol following tweets made by the former president.
The controversy over Robinhood arose after millions of Redditors fought back against Wall Street hedge funds that sold the GameStop shares short.
Kevin Gill, the YouTuber and Reddit user who caused a Wall Street crisis by raising the price of GameStop, has not yet sold his life rights, but Deadline suspects it will not be long before he calls from Hollywood start getting.
However, the situation is still ongoing and rights may not be needed to tell the story.
Word on the street: The Robinhood controversy arose after millions of Redditors fought back against Wall Street hedge funds that sold GameStop shares short
Users saw an opportunity for ‘so-called’ short pressures’, in which rising stock prices forced short sellers to buy more shares to cover their losses.
Short sellers make money by betting that a stock will fall in price. They borrow a stock and sell it with the expectation that it will fall in price.
They then buy back the stock as soon as it has fallen in price, and send it back to the lender, who makes a profit on the price difference.
Bottom line: Kevin Gill, the YouTuber and Reddit user who caused a Wall Street crisis by raising the price of GameStop, has not yet sold his life rights, but Deadline suspects it will not last long before making calls from Hollywood
However, in the case of GameStop, seven million strong Redditors hosts, organized on the Reddit forum Wallstreetbets, saw it shortened.
They teamed up to raise the share prices of GameStop and other heavily short-circuiting companies, in an effort to keep it tight.
As a result, those betting on GameStop fell $ 19.75 billion this year, according to market analysts S3, which included a further loss of $ 8 billion on Friday, after the stock jumped another 68 percent.
More to come: Netflix is currently in talks to make an untitled film about the madness, with writer Mark Boal in talks to pin the script (Centineo pictured in March 2020)