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Traders Should Go To AMC, Bring Stuff From Bed Bath & Beyond, Carry BlackBerry Phones: 'Dumb Money' Author

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In 2021, shares of online game retailer GameStop Corp GME surged to new highs in an epic David vs. Goliath battle between retail buyers and brief sellers.

Whereas the storyline has been informed a number of occasions, principally in docuseries, a giant display screen film will spotlight the story with Hollywood actors taking part in the characters who buyers would possibly keep in mind all too nicely.

What Occurred: Set for a theatrical launch on Sept. 22, 2023, “Dumb Cash” stars Paul Dano, Pete Davidson and Seth Rogen and can see a restricted launch starting Friday Sept. 15. Followers of the GameStop saga storyline or anybody who loves a great David vs. Goliath battle in a film might take pleasure in it. 

The Sony Group Corp SONY manufacturing primarily based on a e-book by Ben Mezrich titled “The Delinquent Community: The GameStop Quick Squeeze and the Ragtag Group of Beginner Merchants That Introduced Wall Road to Its Knees.”

Dano stars as Keith Gill, often known as Roaring Kitty, a central character within the GameStop storyline.

A brand new report from the AP stated the film was made for round $30 million. With no full advertising and marketing blitz as a result of actors being on strike in Hollywood, the folks behind the movie are hoping that followers of the inventory will head to theaters and can assist promote the story.

Whereas GameStop might get consideration with the film’s launch, movie show inventory AMC Leisure Holdings AMC can be set to learn from a robust theatrical exhibiting and will additionally get consideration from buyers.

Creator Mezrich stated buyers and film goers ought to capitalize on the earlier rise of the so-called “meme shares” to assist the film’s launch.

“I believe we must always go to AMC Theaters and we must always deliver stuff from Mattress Bathtub and Past and carry Blackberries,” Mezrich stated, in keeping with the AP. 

Retailer Mattress Bathtub & Past and expertise firm BlackBerry Restricted BB usually traded in parallel with GameStop as meme shares on which retail buyers wager in opposition to brief sellers.

Associated Hyperlink: GameStop Quick Squeeze Anniversary: A Look Again At David Vs. Goliath Battle And What’s Subsequent

Why It’s Essential: GameStop shares have stalled in 2023, up 0.5% year-to-date. Shares of the online game retailer are down 41% during the last yr as buyers see liquidity considerations and declines in avid gamers who’re shopping for bodily discs.

Different meme shares have additionally seen massive declines, with AMC shares down 78% year-to-date in 2023.

Mattress Bathtub & Past, which additionally noticed an funding from GameStop investor Ryan Cohen, declared chapter and bought its belongings to Overstock.com OSTK.

A number of previous Mezrich books have gotten the film remedy, together with the 2008 launch “21” and 2010’s “The Social Community.”

Mezrich watched the storyline of GameStop shares going previous $300 and retail buyers betting in opposition to brief sellers and knew he wished to put in writing a e-book.

“By the top of that day, I knew that this was one thing that I wished to put in writing and I might see it as a movie,” Mezrich stated.

“That evening, I wrote a 12-page proposal and remedy as each a film and e-book thought. By the top of the week, we had a film.”

Benzinga’s Take: “Dumb Cash” could possibly be a check of how sturdy the GameStop storyline stays for buyers and the way good a film can do on the field workplace with no full advertising and marketing blitz from its actors.

Learn Subsequent: Meme Shares Are Again, Quick Sellers Beware 

Picture by way of Shutterstock. 

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