I didn't know there was a Ghost Shark 1, which is probably my loss. But I do know that this one has managed the casting coup of scoring actors from two different "Worst Movies Ever Made": Troll 2's George Hardy and The Room's Juliette Danielle. Unfortunately they appear to be consigned to minor roles, while the leads include a guy named Steve Austin who isn't the famous one.
The trailer makes my day, but I'm not sure I could take a whole movie of it. Watch after the jump and see if it pumps you up for the next would-be cinematic sharktacular.
UPDATE: was just alerted by reader Israel Vasquez to this. Not sure the films have anything to do with one another officially, sorta like Troll 2.