It was the financial story that caused a global stir back in January. GameStop’s stock fluctuation prompted by a band of retail traders on Reddit is now set to be detailed in a Netflix docuseries.
The saga was a result of people within the Reddit r/wallstreetbets community exploiting a trading strategy that had caused eyebrows to raise on the global market.
The slew of Redditor’s borrowed shares in the struggling company only and sell them, with a promise to buy them back at a later date.
The strategy is that if you’re sure the company will lose value, you’d make a profit when you buy the shares back and the price has fallen. It was a head-scratching new story for the layman and this is why many production companies have sensed a hit.
Now, Netflix aims to use this incident as a stopping off point to explore the “seismic shift in how the world’s money behaves,” promising access to Reddit community members and expert analysis from leading economists.
Story Syndicate is the production company behind the series, with co-founders Dan Cogan and Liz Garbus executive producing. Previous credits include The Innocence Project, which documented efforts to free wrongfully convicted prisoners.
With the story only just getting the green-light, it is unlikely to feature on Netflix any time soon, but with HBO script on the subject on the matter already in the works and Oscar-winner Mark Boal also penning a separate script, it is unlikely that they will want to be beaten to the punch by competitors.
You can catch a trailer for the production company’s The Innocence Project below.
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