GameStop stock movie by Sony is coming out on October 20

The GameStop stock was the reason for a lot of people getting very, very, very rich (and very, very, very broke) fast in 2021.

"From memes to reality" is what the upcoming GameStop movie should use as a slogan. Titled "Dumb Money", the upcoming film will premiere on October 20 and give casual audiences a "comedic" look at one of the most unlikely things to have happened in stock market history.

Several films and shows have been released based on the events of the GameStop short squeeze.

Dumb Money is based on the book, The Antisocial Network, that was written by Ben Mezrich. The author is also behind the book-turned-films, The Social Network and 21.

In a nutshell, Dumb Money will chronicle what happened in 2021 that saw the GameStop stock price (NASDAQ ticker GME) go from historical lows to absurd highs. Things have stabilized for the much-maligned video game retailing company since, but the stock price is still significantly higher compared to where it was before the COVID-19 pandemic.

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Dumb Money boasts an ensemble cast of who's who that includes the following:

The GameStop short squeeze might be responsible for delaying the inevitable closure of GameStop.

GameStop remains as controversial then as it is now. Most recently, GameStop employees found themselves confused as a handful of pre-orders of the most expensive edition of the RE4 Remake were canceled for apparently no reason. GameStop is also technically still bleeding with no signs of improving, so there's that.

If you're curious to find out how the GameStop fiasco happened, the situation wasn't as complicated as you'd think. Those behind the entire thing just found a way to beat hedge funds at their own game.

How did they do this? They looked at the price of the GameStop stock and found that it was extremely undervalued as if by design. Then, they found out that they could cost several hedge funds millions of dollars by driving up the stock price. One of the ways hedge funds make money is by borrowing stocks at a high price and returning them after they've repurchased the same stock at a lower price at a later time. So, when GameStop stock started selling for more, the hedge funds had no choice but to buy the same stocks they borrowed for a higher price than they initally sold them for, creating a pseudo-bullish market.

The GameStop short squeeze proves that it's possible to make a ton of money real quick on the stock market if you know when to strike.

Ultimately, when the guys who bought GameStop stock at a lower price succeeded in driving it up, they made a killing. As for those who joined late, they found themselves making less money than they put in.

Ray Ampoloquio
Ray is a lifelong gamer with a nose for keeping up with the latest news in and out of the gaming industry. When he's not reading, writing, editing, and playing video games, he builds and repairs computers in his spare time. You can find Ray on Twitter.
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