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The meme stock phenomenon that set shares of GameStop Corp. skyrocketing to dizzying heights in 2021 is getting the Hollywood treatment in the forthcoming movie โDumb Money.โ
Sony Pictures released a trailer for โDumb Moneyโ this week, with the movie set to hit theaters on Sept. 22. โDumb Moneyโ tells the story of fortunes won and lost overnight โin the David-vs.-Goliath short squeeze that might have ended up changing Wall Street forever,โ says filmmaker Black Bear Pictures, on its website.
The movie has been described as a โdramedyโ by Deadline, which reported last year that Sony Pictures had snapped up distribution rights for โDumb Moneyโ in the U.S. and a number of overseas markets.
Related: GameStop snapback continues after Ryan Cohenโs election as executive chairman, CEO firing
โYou canโt make this $hit up,โ tweeted the movieโs Twitter account Thursday. โGet invested in the insane true story that shocked the world.โ
The stellar cast includes Nick Offerman as Citadel CEO Ken Griffin and Seth Rogen as Melvin Capital Founder Gabe Plotkin. Mets owner and CEO of Point72 Asset Management Steve Cohen is played by Vincent DโOnofrio. Meme-stock guru Keith Gill, aka Roaring Kitty, is played by Paul Dano. Shailene Woodley, America Ferrera, and Pete Davidson also star.
The movie is directed by Craig Gillespie, who also directed โI, Tonya,โ and โCruella.โ
Related:ย GameStop fires CEO, elects Ryan Cohen as executive chairman; stock plunges
GameStop
GME,
like fellow meme stock darling AMC Entertainment Holdings Inc.
AMC,
ย ย was a major beneficiary of the meme-stock buying frenzy in January 2021. Boosted by the WallStreetBets crowd on Reddit, the struggling video game retailerโs shares were sent soaring. Between January and March 2021, GameStopโs stock priceย rose more thanย 1,200% and the companyโs market cap surpassed $17 billion. The companyโs market cap is now $7.41 billion.
Shares of GameStop fell 1.1% Friday, compared with the S&P 500 indexโs
SPX,
decline of 0.5%. The video game retailerโs stock has risen 30.2% in 2023, outpacing the S&P 500 indexโs gain of 13.6%.
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