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Jordan Belfort, who knows a thing or two about gaming the stock market for his monetary benefit, will host a Discovery Plus documentary special on GameStop’s meteoric stock price rise. Belfort, who was immortalized in Martin Scorsese’s 2013 movie The Wolf of Wall Street, will now appear on the small screen for GameStop: The Wall Street Hijack.
The upcoming one-hour documentary will tell the story of the group of novice investors on the Reddit group WallStreetBets were able to destroy hedge funds who attempted to short-sell the GameStop stock into oblivion in January. The Redditors were able to inflict massive losses against the established financial institutions, and estimated losses were said to be $19 billion.
The GameStop documentary, which is produced by ITN Productions, will show how the struggling brick-and-mortar videogame retailer was revitalized by the day-trading r/WallStreetBets gang. Belfort, who pled guilty to securities fraud and money laundering and served 22 months in prison, will narrate GameStop: The Wall Street Hijack. Belfort will chronicle the GameStop saga “in a series of vignettes” in “layman’s terms and why we need to pay attention.”
“Now I’ve found some very creative ways to make money on Wall Street, but I’ve got to say, personally, I love the fact that everyone now has the ability to organize and give the Wall Street players a run for their money,” Belfort said. “It’s a real David versus Goliath story. I’m praying that the amateur traders are victorious but one thing I can assure you of, it’s going to be a wild ride every step of the way.”
Previously, Belfort gave advice to investors considering investing money into the GameStop stock, warned that is like “catching a falling knife.”
Simon Downing, senior VP and head of factual & sports for Discovery U.K., elaborated on the project, “Our investigative Discovery Plus originals have been incredibly popular around the world and we’re delighted to bring fans this timely documentary next month. GameStop: The Wall Street Hijack is an informative, entertaining and jaw-dropping look at one the most riveting financial stories of our times.”
Ian Russell, head of international programs for ITN Productions, stated, “This is an incredible story with the perfect host to shine a light on how social media is changing the way stocks are traded.”
“GameStop: The Wall Street Hijack” was commissioned by Simon Downing and Victoria Noble for Discovery+ and Jeremy Phillips is the executive producer. Bruce Kennedy and Ian Russell are the executive producers for ITN Productions and Mark Radice is producer for ITN Productions.
GameStop: The Wall Street Hijack will be available on Discovery Plus later this year.