Jordan Belfort, who is aware of a factor or two about gaming the inventory marketplace for his financial profit, will host a Discovery Plus documentary particular on GameStop’s meteoric inventory worth rise. Belfort, who was immortalized in Martin Scorsese’s 2013 film The Wolf of Wall Road, will now seem on the small display for GameStop: The Wall Road Hijack.
The upcoming one-hour documentary will inform the story of the group of novice traders on the Reddit group WallStreetBets had been capable of destroy hedge funds who tried to short-sell the GameStop inventory into oblivion in January. The Redditors had been capable of inflict large losses in opposition to the established monetary establishments, and estimated losses had been mentioned to be $19 billion.
The GameStop documentary, which is produced by ITN Productions, will present how the struggling brick-and-mortar videogame retailer was revitalized by the day-trading r/WallStreetBets gang. Belfort, who pled responsible to securities fraud and cash laundering and served 22 months in jail, will narrate GameStop: The Wall Road Hijack. Belfort will chronicle the GameStop saga “in a collection of vignettes” in “layman’s phrases and why we have to concentrate.”
“Now I’ve discovered some very inventive methods to earn money on Wall Road, however I’ve bought to say, personally, I really like the truth that everybody now has the flexibility to prepare and provides the Wall Road gamers a run for his or her cash,” Belfort said. “It’s an actual David versus Goliath story. I’m praying that the beginner merchants are victorious however one factor I can guarantee you of, it’s going to be a wild experience each step of the best way.”
Beforehand, Belfort gave advice to investors contemplating investing cash into the GameStop inventory, warned that’s like “catching a falling knife.”
Simon Downing, senior VP and head of factual & sports activities for Discovery U.Ok., elaborated on the venture, “Our investigative Discovery Plus originals have been extremely standard world wide and we’re delighted to convey followers this well timed documentary subsequent month. GameStop: The Wall Road Hijack is an informative, entertaining and jaw-dropping take a look at one essentially the most riveting monetary tales of our occasions.”
Ian Russell, head of worldwide packages for ITN Productions, said, “That is an unimaginable story with the proper host to shine a lightweight on how social media is altering the best way shares are traded.”
“GameStop: The Wall Road Hijack” was commissioned by Simon Downing and Victoria Noble for Discovery+ and Jeremy Phillips is the manager producer. Bruce Kennedy and Ian Russell are the manager producers for ITN Productions and Mark Radice is producer for ITN Productions.
GameStop: The Wall Road Hijack can be accessible on Discovery Plus later this 12 months.