As we told you earlier, the investment company Robinhood is among some who are “restricting transactions for certain securities” (including GameStop and AMC of course). Meanwhile, some in the media are leaning towards taking a “hedge funds are being victimized” approach to the story:
These hedge-funds suffered bruising losses in matter of weeks as Reddit traders banded together to take on them:
Point72: -10-15%
D1 Capital Partners: -20%
Melvin Capital: -30%https://t.co/oacLghXBkq pic.twitter.com/FT80RbVp11— Bloomberg Quicktake (@Quicktake) January 28, 2021
On that subject, Fox Business’ Charles Payne dropped some heavy reality checks in just one tweet today:
The stock market is not in turmoil – billionaire hedge funds are in turmoil.
Two different things. Its a shame regulators, brokerage firms and media continue to provide cover for folks that go to work on helicopters from the Hamptons and say its for folks that take the subway.
— Charles V Payne (@cvpayne) January 28, 2021
Nobody brings on the truth like Charles Payne!
"The stock market is not in turmoil – billionaire hedge funds are in turmoil."
Great quote. ?
— Angelo (@Vegasguy391) January 28, 2021
This is why Charles Payne is the goat he’s FOR THE PEOPLE AND CAPITALISM https://t.co/wp7VnV2Jzz
— PhatPat™️ (@Phat_Pat97) January 28, 2021
I’ll take his word for it. @cvpayne is one of the few remaining in media, IMO, who has credibility, and a working expertise. He should run for office. https://t.co/tdXe3BluAm
— Vickie Harrell (@vharrelle71) January 28, 2021
Nailed it! Hedges screwed up, made bad research decisions and now they just want to stop the game! https://t.co/8SZDOclx4z
— Carey Thompson (@ceetee1977) January 28, 2021
Preach it, Charles! Thanks for shining the light of truth on this situation… https://t.co/1JQDfwsY6V
— RickReding (@RickReding) January 28, 2021
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Related:
‘Scumbags’: This old tweet from Robinhood is coming back to haunt them in a big way
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