Just like the Game Stop stock prices, the film industry needed to move fast on the film.
Submarine Deluxe announced the inevitable untitled Gamestop documentary about the rise and fall of Gamestop stock prices in the market. For the past couple of weeks, Gamestop stock generated worldwide news and social media discussion with the nearly 2,000 percent increase of its stock price.
The stock anticipation was generated with memes and posts on Reddit’s WallStreetBets. Later, it generated an avalanche of coverage in social media, Twitch, and social media accounts. Countless small retail investors invested hundreds of dollars, empty their bank accounts, skip a mortgage payment, and even used their stimulus pandemic payment to invest in a dying retail company.
As a result, hedge funds who betted by shorting the stock lost billions of dollars.
The unlikely players’ behind-the-scenes range from financial troublemakers seeking to make corporate hedge funds go bankrupt to greedy retail investors looking to ride the wave for a quick cash grab.
“When we approached Submarine about collaborating on this, it was an obvious fit with their long storied experience in doc series and films,” said director Jonah Tulis in a statement. “This is a true David and Goliath story and our goal is to tell it through the eyes of the incredible men and women who risked it all—or ‘yolo’d’ as they like to say—making millions in the process and changing the landscape of the stock market forever.”
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With the project already in production and funding in place, the untitled documentary may need a quick turnaround while Gamestop is still in the news.
Since its stock price peak of nearly $500 per share, the stock price has dropped more than eighty-five percent. It resulted in tremendous losses for retail investors and the fallout may continue. The government opened inquiries into the situation and a stock trading app Robinhood experienced a backlash for limiting trades.
Submarine Entertainment brought enthralling documentaries such as American Factory, The Social Dilemma, Boys State, and The Truffle Hunters.
Would you be interested in watching a documentary on the Wall Street battle?
Source: Submarine Deluxe