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The GameStop share price rose 1000% in a week. Private investors who gathered via the chat group WallStreetbets on social news blog Reddit managed to drive up the price together.
In doing so, they attacked the hedge funds that were ‘short’. They bet with investment products that the price would fall. In a short time, the hedge funds had to swallow more than $ 7 billion in losses.
The big question now is who will come up with the GameStop movie first. MGM has bought the rights from Ben Mezrich, author of The accidental billionaires about Facebook, later made into a movie as The social network.
Netflix works with screenwriter Mark Boal, who previously received an Oscar for it Zero dark thirty. According to Hollywood Reporter, the much smaller Pinky Promise also comes with a TV series about the investor Egypt, with the title To the moon.
The GameStop stock slowly returned to Earth on Tuesday, dropping 60% on Wall Street.
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