Economy
Musk, Cruz, AOC, Ja Rule, Trump Jr, Barstool, More Slam Robinhood For Banning ‘Meme Stock’ Trades
“Hedge funders should really just ‘Learn To Code’ or to ‘install solar panels.”
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…”
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.”
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.”
Portnoy uploaded a video declaring that “everybody on Wall Street who had a hand in today’s crime needs to go to prison”.
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.
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.”
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.”
In a subsequent tweet, Musk added, “Here come the short apologists”.
“Give them no respect,” wrote Musk. “Get Shorty.”
