Watch Clip Of MSNBC Films/NBC News Studios’ ‘Diamond Hands: The Legend Of WallStreetBets’: The “Perfect Storm” That Fueled GameStop’s Reddit Revolt
deadline.comThe filmmakers behind Diamond Hands: The Legend of WallStreetBets, call the story behind the Reddit users’ revolt over the retailer GameStop a “perfect storm.”The project, which will have its premiere at SXSW on March 13 and then air at 10 PM ET on April 10 on MSNBC, tells the story of the Reddit users who, early last year, coordinated to drive up the price of the faltering company GameStop to counter major hedge fund short sellers.
What happened became a sensation, as attention focused not only on the impact on the market, with GameStop shares soaring 1700%, but the Robinhood trading app, which allowed average users to buy and sell shares at a whim.Zackary Canepari, director of the project along with Drea Cooper, said that what happened was “a one of a kind situation.
This only happened because there was a pandemic and stimulus checks and boredom and social media and populism, this perfect app, this perfect company, and all of these kinds of things just coming together.
Once we started to talk to the characters I think we just knew that this was a really a special group of people to understand what they went through.”Cooper said that “the story itself is about this massive group of thousands if not millions of people who connected online, who essentially rallied together to push the stock, and push the stock up. …The biggest challenge at that point is how do we narrow down to a few key characters and a few key voices who can kind of bring that story to life.”He also said that they set out to get to the origins of WallStreetBets. “Where did this idea even begin, that GameStop even had a potential for a squeeze? … So it became in some ways sort of like an investigative piece.
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