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Netflix to produce movie on GameStop (GME) short squeeze

Netflix is finalizing a deal for Noah Centineo to star in the GameStop movie.

Donovan Erskine

February 1, 2021 11:15 AM

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The constantly evolving situation around GameStop’s (GME) stock has been pretty insane, with more wrinkles and twists popping up nearly every day. It almost feels like something out of a movie. Well, that’s exactly what Hollywood is doing. Netflix is close to finalizing a deal to produce a movie based on GameStop’s (GME) stock and its impact on Wall Street.

This news comes exclusively from Deadline Hollywood, as the website first broke the story. According to the report, Netflix is eyeing Noah Centineo to star in the film, with Mark Boal to write the script. There is currently no word on who Netflix has in mind to direct the project.

Deadline’s report also features rumored details on the film’s plot. “sources said the intention is to use the GameStop episode as a specific way to shine a light on the phenomenon of how social media has leveled the playing field and allowed the masses to challenge status quo gatekeepers, for good and bad.” The GameStop stock scenario has stirred quite the controversy, and has dominated conversations both in-person and online for nearly two weeks.

After users on r/WallStreetBets coordinated efforts to buy shares in GameStop (GME) in order to drive up the stock price as a move to screw over hedge funds that were short the stock, the movement quickly gained traction, expanding far outside of the subreddit. The volatility of the stock led trading program Robinhood to temporarily bar users from trading GameStop (GME), a move that was met with severe backlash.

What’s a bit of a head-scratcher, is just how early Hollywood is jumping to make a movie out of the situation. With markets opening back up and folks still looking to purchase and hold GameStop’s (GME) stock, this saga is far from over. Most likely, Netflix is looking to stake its claim before another studio swoops in and snags the idea.

For more on the evolving situation surrounding GameStop (GME) stick with us here on Shacknews.

Donovan Erskine

News Editor

Donovan is a young journalist from Maryland, who likes to game. His oldest gaming memory is playing Pajama Sam on his mom's desktop during weekends. Pokémon Emerald, Halo 2, and the original Star Wars Battlefront 2 were some of the most influential titles in awakening his love for video games. After interning for Shacknews throughout college, Donovan graduated from Bowie State University in 2020 with a major in broadcast journalism and joined the team full-time. He is a huge Scream nerd and film fanatic that will talk with you about movies and games all day. You can follow him on twitter @Donimals_