Elon Musk, Ted Cruz, AOC, Ja Rule, Donald Trump Jr, Barstool Sports, More Slam Robinhood For Banning 'Meme Stock' Trades
For the first time in decades, Americans seem to be wholly united in bipartisan rage, this time against Wall Street hedge funds and the Robinhood stock trading platform for shutting retail traders out from “meme stocks” like GameStop, AMC, and others.
American rap artist Ja Rule said “this is a f**king CRIME what @RobinhoodApp is doing,” before urging his followers “DO NOT SELL!!! HOLD THE LINE…”
https://twitter.com/jarule/status/1354812123080138759
While Ja Rule was an early critic, he was soon joined by two sitting members of the U.S. Congress, Rep. Alexandria Ocasio Cortez (D-NY) and Sen. Ted Cruz (R-TX).
“This is unacceptable,” wrote Ocasio-Cortez. “We now need to know more about @RobinhoodApp’s decision to block retail investors from purchasing stock while hedge funds are freely able to trade the stock as they see fit.”
Cruz quoted the tweet, adding “Fully agree.”
https://twitter.com/tedcruz/status/1354833603943931905
Dave Portnoy, the founder of Barstool Sports, celebrated the bipartisanship of Republicans and Democrats coming together to fight back against Robinhood and hedge funds.
“PRISON TIME,” wrote Portnoy. “Dems and Republicans haven’t agreed on 1 issue till this. That’s how blatant, illegal, unfathomable today’s events are.”
PRISON TIME. Dems and Republicans haven’t agreed on 1 issue till this. That’s how blatant, illegal, unfathomable today’s events are. It also shows how untouchable @RobinhoodApp @StevenACohen2C Citadel Point72 all think they are. Fines aren’t enough. Prison or bust https://t.co/cEldMThZSD
— Dave Portnoy (@stoolpresidente) January 28, 2021
Portnoy uploaded a video declaring that “everybody on Wall Street who had a hand in today’s crime needs to go to prison”.
Emergency Press Conference – Everybody On Wall Street Who Had A Hand In Today’s Crime Needs To Go To Prison pic.twitter.com/aKr8aPbB3Z
— Dave Portnoy (@stoolpresidente) January 28, 2021
The official Barstool Sports account soon joined Portnoy’s condemnation with a meme video showing Robinhood take large stacks of money from people’s hands.
Robinhood right now: pic.twitter.com/d1apNRnjG7
— Barstool Sports (@barstoolsports) January 28, 2021
Soon after, Donald Trump Jr. mocked hedge funds for their panic and alleged collusion with companies like Robinhood to keep retail investors out of the market.
“Hedge funders should really just ‘Learn To Code’ or to ‘install solar panels,'” wrote Trump, mocking left wing media’s assertion that unemployed coal miners should “learn to code” and John Kerry’s assertion that unemployed pipeline workers should seek employment installing solar panels.
“Am I doing this right???” Trump added, “I’m told those are the rules.”
https://twitter.com/DonaldJTrumpJr/status/1354895314214400000
Tesla and SpaceX founder Elon Musk, who previously celebrated the retail stock revolution, condemned hedge funds for their panicky response to a short not turning a profit, declaring that “shorting is a scam.”
u can’t sell houses u don’t own
u can’t sell cars u don’t own
but
u *can* sell stock u don’t own!?
this is bs – shorting is a scam
legal only for vestigial reasons— Elon Musk (@elonmusk) January 28, 2021
In a subsequent tweet, Musk added, “Here come the short apologists”.
“Give them no respect,” wrote Musk. “Get Shorty.”
Here come the shorty apologists
Give them no respect
Get Shorty— Elon Musk (@elonmusk) January 28, 2021
Jamie Varner, a former professional athlete who competed at the Ultimate Fighting Championship, condemned Robinhood in his reply to their tweet notifying users that they would not allow them to buy GameStop or AMC stock.
“You’re trash and I’m taking all my money out of your bullsh*t platform,” wrote Varner. “How dare you tell me where or what I can spend my money on.”
He added, “How are you not getting sued.”
You’re trash and I’m taking all my money out of your bullshit platform. How dare you tell me where or what I can spend my money on. How are you not getting sued. I hope real leadership takes your guys over. Why aren’t you doing this shit with BTC? Clowns
— Jamie Varner (@jamievarner) January 28, 2021
Conservative YouTube content creator and political analyst Mark Dice chided Robinhood for “protecting the hedge funds.”
“You’re protecting the hedge funds,” wrote Dice. “Allowing them to close out their shorts at a lower price. Maybe just change your name to Goldman Sachs.”
You’re protecting the hedge funds. Allowing them to close out their shorts at a lower price. Maybe just change your name to Goldman Sachs.
— Mark Dice (@MarkDice) January 28, 2021
Cassandra Fairbanks, a high profile ally of Julian Assange and reporter for The Gateway Pundit, revealed that Robinhood will no longer let her buy the Dogecoin cryptocurrency, which has often been described as a “meme coin.”
“Robinhood won’t even let me by doge,” wrote Fairbanks.
https://twitter.com/CassandraRules/status/1354894215017340933
YouTube content creator and Black Lives Matter supporter Matt Watson announced, “We’ve dropped Robinhood as one of our podcast sponsors.”
We’ve dropped Robinhood as one of our podcast sponsors.
— MATT WATSON (@matthwatson) January 28, 2021
Max Burns, a Democratic strategist and Daily Beast contributor, wrote that “Wall Street executives are divorced from reality to a level that is beyond parody.”
“I’m surprised they didn’t call the $GME fight their personal 9/11.”
Wall Street executives are divorced from reality to a level that is beyond parody. I'm surprised they didn't call the $GME fight their personal 9/11. https://t.co/SU5wb7Myi9
— Max Burns (@themaxburns) January 28, 2021
Tyler Winklevoss, an American technology startup legend and cryptocurrency pioneer, piled on and condemned what he considers Robinhood’s histories of “lies.”
“Robinhood was always lies and fancy marketing,” said Winklevoss. “They never cared about the Wall Street Bets crowd, they only cared about selling the little guy order flow to Citadel.”
“Today they showed their true colors to the world.”
Robinhood was always lies and fancy marketing. They never cared about the Wall Street Bets crowd, they only cared about selling the little guy order flow to Citadel. Today, they showed their true colors to the world.
— Tyler Winklevoss (@tyler) January 28, 2021
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