The movie begins in the quiet town of Woodsboro, where Tara Carpenter, played by Jenna Ortega, finds herself home alone when her phone suddenly rings. A mysterious voice, purportedly calling for her mother, starts engaging her in unsettling conversation. This voice, voiced by [Roger L. Jackson], begins to ask Tara a series of questions about horror movies, ranging from contemporary "elevated horror" like The Babadook, Hereditary, and The Witch, to the iconic "Stab" franchise. Tara's initial responses seem casual; she mentions her preference for newer horror films. However, the voice quickly shifts tone and reveals a sinister plan—he has cloned Amber Freeman’s phone and is lying outside Tara’s house, ready to attack if she doesn’t answer correctly. When she falters, the killer—known as Ghostface—becomes threatening and attempts to break in.
Tara, in a panic, opens her door to find Ghostface slashing her stomach. Despite her injuries, she fights back, trying to call for help as Ghostface taunts her over the phone. The assailant manages to get inside, stabbing her through her hand, twice in her side, and breaking her foot in the process. Just when Ghostface prepares to deliver a fatal blow, the police arrive, forcing him to flee, leaving Tara alive but severely wounded.
Meanwhile, in Modesto, Tara's older sister Sam (Melissa Barrera) is working with her boyfriend Richie Kirsch (Jack Quaid). They receive a call from Wes Hicks (Dylan Minnette), a friend of Tara, informing them of her attack and sparking concern. Immediately, Sam and Richie rush back to Woodsboro, reflecting on the "Stab" movies and their disturbing connection to the recent violence. Their return stirs tensions among Tara’s friends—Amber (Mikey Madison), Wes, Liv McKenzie (Sonia Ammar), and siblings Chad (Mason Gooding) and Mindy Meeks-Martin (Jasmin Savoy Brown). They gather at Woodsboro High, where they discuss Tara’s brutal assault and Sam’s return after five years away.
At the hospital, Tara, relieved to see her sister, keeps her distance from others, asking everyone but Sam to leave her room. Sam’s arrival is emotional, but she is met with mixed feelings. Later, at a local pool hall, tensions heighten, especially when Vince Schneider (Kyle Gallner), a guy Liv previously dated, tries to rekindle their connection. His attempt ends violently when Vince pulls out a knife—only to be attacked and left to bleed in the alley by Ghostface.
While Tara recovers, Sam begins experiencing disturbing hallucinations, seeing the ghost of [Skeet Ulrich] as Billy Loomis, her father, which challenges her sanity and her past. The killer’s threats escalate when Ghostface targets Sam at the hospital. He calls her, forcing her to choose who will die—her or Tara. The situation becomes dire; Dewey Riley (David Arquette) intervenes, using his experience to guide their efforts. Dewey suggests that if the killer is inspired by the original "Stab" film, then certain rules could help them survive—like not trusting the love interest.
As the investigation deepens, Sidney Prescott (Neve Campbell) is contacted. She lives a quiet life with her family but is reluctant to return to Woodsboro, despite Dewey’s pleas. She remains cautious but eventually joins Dewey, Sam, and Richie in the town. Dewey warns that if the killer is mimicking the rules from the first film, then those connected to the original murders might be the prime targets. As they gather clues, the idea of a "requel"—a mix of reboot and sequel—begins to take shape. Fans of the "Stab" franchise, like Mindy, discuss that the killer could be targeting those connected to the original killer, Billy Loomis, or his accomplice Stu Macher.
Tensions rise when Wes’s mother, Judy Hicks (Marley Shelton), gets involved. She is initially suspicious and later murdered by Ghostface, who also kills Wes outside her house. The chaos intensifies as Sam and Dewey uncover the horror scene. Also, Gale Weathers (Courteney Cox) arrives, mourning Dewey’s death and reconnecting with him despite their past. Their reunion is strained; Dewey admits he’s been retired, and they share a bittersweet moment before Dewey sacrifices himself, getting stabbed by Ghostface while trying to save others.
The conflict reaches its climax at a house where the characters believe they can find and confront Ghostface. Sidney and Gale arrive, determined to stop the killer. Inside, Amber, masquerading as the victim, pretends to be attacked but is later revealed as a true killer. The chaos leads to intense fights, with Amber fighting Gale, and Sidney smashing a jar of hand sanitizer over Amber’s head. Despite the brutality, Amber is eventually killed in a fiery struggle after being pushed onto a lit stove.
In a shocking turn, it’s exposed that Richie (Jack Quaid), Tara’s boyfriend, is also involved as a second killer, revealing that he and Amber had planned the murders together. Their motivation? Frustration over the "Stab" franchise’s recent installments and a desire to create their own “re-quel,” bringing back legacy characters and subverting the franchise norms. Richie’s betrayal hits hardest when he tries to kill Sam, but she fights back with a concealed knife, stabbing him multiple times and finally slitting his throat. Sidney and Gale arrive just in time to witness Tara shooting Amber in the head, finally ending her reign of terror.
Police and medical responders arrive as the dust settles. Chad and Mindy are revealed alive, and Sam expresses her gratitude to Sidney and Gale for their help, despite her initial warnings not to get involved. Gale plans to write a book celebrating Dewey’s heroism, while Sam, Tara, and the others begin their journey toward healing, knowing the ghosts of the past are finally laid to rest.
The film ends with a tribute to Wes Craven, the original creator of the franchise, emphasizing the lasting impact of his work in the horror world.
