HBO is working on a movie centered around GameStop’s stock market drama involving day traders and their campaign against hedge funds. Jason Blum of Blumhouse Television is on board as an executive producer with Billions co-creator Andrew Ross Sorkin also serving as an executive producer. The GameStop film announced on Friday is one of several productions that are in the works in hopes of cataloguing the stock market saga with several others announced over the past week or so.
News of the new GameStop film was first shared by Variety who said Sorkin and Blum were attached to the movie alongside Len Amato of Crash&Salvage who’s also an executive producer. Blum’s Blumhouse studio should be a familiar name by now while Sorkin’s Billions itself deals with the topic of hedge funds and wealth. Amato was previously the head of HBO Films and has earned several accolades including Emmy Awards.
The GameStop chaos will likely be a familiar subject by now even if you’re not privy to normal stock market happenings. Day traders who organized their efforts primarily through Reddit but also through other online forums pushed GameStop’s stock prices to an all-time high in an attempted short squeeze aimed targeting hedge funds. The saga grew to the point that regulatory organizations and even President Biden’s administration began monitoring the situation and looking for answers.
After its initial surge in price, the price of GameStop’s shares wavered and became increasingly volatile after stock market apps such as Robinhood restricted trading of what became known as “meme stocks.” The prices rebounded as some of those restrictions were lifted, but the actions taken by the companies who restricted trading initially left many looking for new trading platforms after viewing the restrictions as undue influence on the market.
Robinhood faced the brunt of many of those criticisms and has since attempted to offer explanations for its decisions. The trading platform is planning to air a commercial during the Super Bowl on Sunday to address the topic.
By the time much of these events had transpired, several production companies and filmmakers had expressed interest in cataloguing the events through different movies. Similar desires for movies and other productions came from after surge in the popularity of Netflix’s Tiger King with companies looking to capitalize on the trend, though like those ideas, it remains to be seen how many of these GameStop stories will be produced in a timely enough fashion to catalogue the events.