Reddit’s WallStreetBets founder: Would’ve never imagined GameStop stock frenzy could happen
R/WallStreetBets founder Jaime Rogozinski discusses ‘meme stocks,’ the rise of retail investors, Robinhood and his investing tips.
United Talent Agency is getting in on the Hollywood action related to the GameStop trading frenzy.
REDDIT'S WALLSTREETBETS FOUNDER SELLS LIFE STORY TO MOVIE PRODUCER
Jaime Rogozinski, the founder of the speculative investing Reddit forum, WallStreetBets, confirmed to FOX Business that he has signed with the agency, which represents such marquee stars as Seth Rogan, Kevin Hart, Jessica Alba and Angelina Jolie.
UTA has lined up a speaking engagement for Rogozinski at a conference in the fall, and has held preliminary discussions about his podcasts. Bloomberg, which first reported the news, noted that speaking engagements can range anywhere from a few thousand dollars to as much as $500,000 per appearance.
A representative for UTA did not immediately return FOX Business' request for comment.
GAMESTOP SAGA GETTING HOLLYWOOD TREATMENT WITH MULTIPLE FILMS: REPORT
WallStreetBets prompted a group of amateur investors earlier this year to band together and buy up the struggling video game retailer's call options, hurting market short-sellers and causing GameStop stock to soar to unprecedented levels.
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The amateur investors proceeded to target other heavily-shorted stocks, including AMC Entertainment Holdings, BlackBerryLimited, Koss Corporation and Nokia Corp, among others. Short sellers lost at least $70 billion betting against U.S. companies as of the end of January, including at least $19 billion on GameStop stock alone, according to financial data service Ortex.
The market volatility prompted investing platform Robinhood to restrict trading on the heavily-shorted securities, prompting backlash from Wall Street and Main Street alike. While Robinhood later reversed its decision, it opened the brokerage app up to a hearing with the House Financial Services Committee and lead the Department of Justice to reportedly launch a probe into potential market manipulation.
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Rogozinski's new representation is his latest foray into Hollywood. In February, Rogozinski sold his life story exclusively to director/producer Brett Ratner — who has been flying under Hollywood's radar since facing several accusations of sexual harassment and assault.
Ratner and his movie production company, RatPac Entertainment, are known for financing such movies as "Wonder Woman," and several installments of the "X-Men" franchise. According to The Wall Street Journal, Ratner made a deal with Rogozinski in the "low six figures" to make a movie, podcasts, and other content based on the viral story.
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Mark Boal, the screenwriter behind "Zero Dark Thirty" and "The Hurt Locker," will also reportedly be writing a film adaption of the stock market event for Netflix. Deadline reported that "To All The Boys I've Loved Before" star Noah Centineo will have a major role in the flick while Scott Galloway, NYU professor, tech guru and host of "Pivot," will consult on the project.
In addition, New York Times best-selling author Ben Mezrich's "The Antisocial Network" book proposal on the same subject has also been picked up by Metro-Goldwyn-Mayer studios. Mezrich seemed to confirm the news on Twitter, while Deadline reports that producer Michael De Luca ("Captain Phillips") will reunite with Mezrich for the film. The duo collaborated on "The Social Network," which was based on Mezrich's "The Accidental Billionaires: The Founding Of Facebook, a Tale Of Sex, Money, Genius and Betrayal." Aaron Ryder will also produce. Involved as executive producers are Cameron and Tyler Winklevoss, two central figures in the Facebook movie who were known as "The Winklevii."
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According to Vulture, there is also an HBO movie being produced by Jason Blum, known for horror blockbusters "The Purge" and "Get Out," and New York Times columnist Andrew Ross Sorkin, co-creator of Showtime’s "Billions."
WallStreetBets will also reportedly be the focus of three different documentaries: The Wall Street Journal's "This is Not Financial Advice," and two untitled documentaries, one of which is directed by Jonah Tulis, known for CBS All Acess (now Paramount+) doc,' "Console Wars" and XTR, the company behind "You Cannot Kill David Arquette." XTR's documentary is partially financed via a Kickstarter campaign.
A docuseries produced by Dan Cogan ("Icarus") and Liz Garbus ("What Happened, Miss Simone?") is also reportedly in the works, as is a limited series titled "To the Moon" that’s reportedly being fast-tracked by production company Pinky Promise but no distributor has been identified. .
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