Noah Centineo ‘starring in the next Netflix movie, narrating the GameStop stock bullish frenzy’

Noah Centineo will have a ‘lead role’ in an upcoming Netflix movie, narrating the epic rise in GameStop shares fueled by Reddit.

Netflix is ​​currently in talks to make an untitled film about the frenzy, with writer Mark Boal in talks to write the script, according to Deadline.

Although Netflix declined to comment on the project with the Deadline, sources told the website that the film’s intention is to show how social media has allowed ordinary people to stand up to the guardians of the status quo, for better or worse.

Examples of this include the status of GameStop and AMC’s actions, the spread of online misinformation about unfounded allegations of electoral fraud, and Trump supports the invasion of the United States Capitol after tweets by the former president.

The Robinhood controversy came after millions of Redditors reacted against Wall Street’s hedge funds by selling GameStop shares.

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 won’t be long before he starts receiving calls from Hollywood.

However, the situation is still changing and rights may not be necessary to tell the story.

Users saw an opportunity for what is known as ‘short squeeze’, in which rising stock prices force short sellers to buy more shares to cover their losses.

Short sellers make money by betting that the price of a stock will fall. They borrow a stock and sell it, expecting it to drop in price.

They then buy the shares back when they fall in price and return them to the creditor, making a profit from the price difference.

However, in the case of GameStop, an army of seven million Redditors, organized on the Reddit Wallstreetbets forum, saw that it was in short supply.

They teamed up to boost the stock prices of GameStop and other heavily sold companies in an attempt to “maintain the short position”.

As a result, bets against GameStop fell $ 19.75 billion this year, according to S3 market analysts, including an additional loss of $ 8 billion on Friday, after the shares jumped another 68 percent .