MGM buys rights to film adaptation of book about traders from Reddit fighting on Wall Street

According to Deadline, Hollywood studio Metro-Goldwyn-Mayer has bought out the film rights to The Antisocial Network, a book about amateur traders on Reddit fighting on Wall Street.

It will be authored by Ben Mezrich, best known for his book “Grudging Billionaires: How Facebook Was Created, A Story of Sex, Money, Genius and Betrayal.” 

Его работа легла в основу фильма режиссёра Дэвида Финчера под названием «Социальная сеть».

It is noted that the bidding for the rights to the film adaptation began last week, and on Friday MGM won them in the auction.

The book will tell you about the Reddit community Wall Street Bets, whose representatives once began to massively buy up shares in the GameStop retail chain of games.

In the first two months, the shares of the network have risen in price by almost 800%, which is why investors have lost a little more than $ 2021 billion since the beginning of 3,3, as they bet on the decline in the value of GameStop shares. 

The story of the war between hobbyist traders and investors began with a thread in which a user called Melvin Capital investors “a bunch of stubborn boomers.”

Недавно инвесторы подали коллективный иск против Robinhood после того, как она отключила возможность покупки GameStop и других акций.

Because of this, one of the traders ordered an airplane flight over San Francisco with a banner “Suck my balls, Robinhood.” To circumnavigate the headquarters of an online brokerage company, the author specially paid the pilot.

As a reminder, at the end of December 2020, it became known that MGM executives were preparing to sell the studio. The heads of the company believe that not only traditional film market players, but also streaming services may be interested in buying MGM.

MGM владеет не только франшизой про Джеймса Бонда, но и ещё более чем 4000 тайтлов, в их числе трилогия «Хоббит» и серия фильмов «Рокки», а также сериалы «Викинги» и «Рассказ служанки». Рыночная стоимость MGM, включая долг, составляет около 5,5 млрд долларов.

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