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GameStop documentary in the works

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GameStop documentary in the works

A documentary about GameStop is the latest project set to chronicle the “Reddit rally” that took the stock market by storm in recent weeks.

Non-fiction and television studio XTR and documentary production company Optimist are joining forces on a feature documentary about the short squeeze movement that pushed shares of a small video retailer to outrageous new heights using Reddit forum WallStreetBets and no-fee trading apps like Robinhood.

“This story is still evolving daily,” director Chris Temple told Variety. “It’s so important to have a strong, nuanced documentary that can capture this landmark moment as it unfolds, through the perspective of the key people and forces that are shaping it.”

Temple and Zach Igrasci are set to direct the untitled GameStop documentary with Jenna Kelly producing and Bryn Mooser and Justin Lacob executive producing. The project was launched with a Kickstarter fundraiser that has amassed over $10,000 as of Friday morning.

According to the Kickstarter page, anyone who donates more than $50,000 will get an executive producer credit on movie database IMBD. If someone donates $100,000, they get their name on the film.

“The Robinhood GameStop saga is shaping up to be one of the most exciting stories of the year, with far reaching consequences about the future of the financial markets and America’s distaste for the standard institutional investors,” Lacob told Variety. “Similar to Fyre Festival, America is infatuated with these events and we’re excited to give audiences the full picture, especially as it continues to unfold.”

The scintillating storyline has Hollywood bigwigs lining up to give their takes on the big screen.

Oscar winning screenwriter Mark Boal, who is known for “The Hurt Locker” and “Zero Dark Thirty,” is writing a script, with Noah Centineo set to star in a major role.

MGM recently picked up the rights to author Ben Mezrich’s book proposal, “The Antisocial Network,” which also dives into the Wall Street fiasco. Grand Central Publishing plans to publish the book in the fall.

Jaime Rogozinski, the founder of Reddit’s WallStreetBets forum, sold his life story earlier this week to Brett Ratner’s RatPac Entertainment, whose roster of hits includes “Wonder Woman” and “Dunkirk,”

Book publishers are also scrambling to get in on the bizarre trading phenomenon. As The Post reported Thursday, at least three book proposals are circulating around the trading frenzy fueled by small investors, who helped cheap stocks like GameStop add billions to their market valuations overnight in an effort to squeeze hedge funds.

Journalists being courted to pen books include New York Times reporter Nathaniel Popper; Wall Street Journal scribes Julia-Ambra Verlaine and Gunjan Banejerli, and Brandon Kochkodin, a Bloomberg editor.

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Alexandra Ford English becomes 1st female board member at Ford

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Alexandra Ford English becomes 1st female board member at Ford

Henry Ford’s great-great-granddaughter has become the first woman in history to take a seat on the company’s board of directors.

Alexandra Ford English, 33, who has an MBA from Harvard and an undergraduate degree from Stanford, will begin her tenure on the 14-member board immediately, which will also include her cousin, Henry Ford III, the founder’s great-great-grandson, according to a report.

English, the daughter of the company’s executive chairman Bill Ford, joined the 118-year-old company in 2017 and works as director of corporate strategy.

Both Ford and English were elected to the board in March.

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AMC cashes in on Reddit-trading frenzy with $428 million share sale

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AMC cashes in on Reddit-trading frenzy with $428 million share sale

Cinema operator AMC Entertainment Holdings has raised about $428 million from a share sale, capitalizing on the retail-trading driven surge in its stock earlier this year.

The world’s largest cinema chain operator’s shares have gained more than five-folds in 2021 thanks to interest from amateur traders on Reddit that were piling into heavily shorted stocks such as GameStop and AMC to punish hedge funds that bet against them.

AMC said in a statement Thursday it had sold 43 million shares at an average price of $9.94 apiece in the at-the-market offering, sending its stock nearly 16 percent higher.

The company has raised funds in the past few months to ride out a downturn in its business wrought by pandemic-driven theater closures, delays in the launch of big movies and the growth of video streaming platforms.

It said in January it had raised $917 million since mid-December through equity and debt issues. It raised an additional $304.8 million in the same month through a share sale.

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Amazon Fresh grocery store to replace Fairway in Paramus

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Amazon Fresh grocery store to replace Fairway in Paramus

The Paramus Fairway’s getting a fresh start.

An Amazon Fresh supermarket is set to replace the shuttered Fairway Market in Paramus, N.J.

The Jeff Bezos-owned e-commerce giant bought the former Fairway location out of bankruptcy auction along with another former Fairway store in Woodland Park for a total of $1.5 million last March, The Post previously reported. 

Amazon’s plans for the two locations were listed as confidential at the time, but came as the Seattle-based company, which also owns Whole Foods, was beginning to expand in the groceries space. 

But Amazon confirmed in November the former Woodland Park Fairway would be converted into an Amazon Fresh. And now, the Paramus location will go the same route, an Amazon spokesperson confirmed to NorthJersey.com. 

It’s not clear when opening day will be, and the company did not return The Post’s request for comment. 

Amazon opened its first Fresh store in Los Angeles’ Woodland Hills neighborhood in September. It’s since opened 11 other locations elsewhere in California and in Illinois, according to the tech giant’s website. 

Amazon Fresh is the company’s attempt to offer a mix of in-store and online grocery shopping while attracting a distinct demographic from Whole Foods by offering lower prices. Fresh stores also tend to feature more national staple brands like Coca-Cola and Kellogg’s than Whole Foods, which emphasizes organic food. 

As The Post previously reported, Amazon may be looking to scoop up some more Fairway locations to expand Amazon Fresh’s footprint in the Northeast. Only seven of Fairway’s 14 stores were sold at last year’s bankruptcy auction, including the two that went to Amazon. Village Supermarket, which operates Shoprite stores, acquired at least four of those locations as well as rights to the Fairway brand. 

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