Barstool Sports activities founder and CEO David Portnoy, who grew to become identified for day buying and selling after coronavirus pandemic halted sporting occasions, executives accused the buying and selling app Robinhood of prison conduct on Thursday after it prevented customers from shopping for GameStop shares in an obvious support to distressed hedge funds.
“I’ve acted harshly for the reason that quarantine started and I used to be shocked by this,” Portnoy mentioned.Tucker Carlson tonight“.” I personally invested in AMC and Nokia. These are two of the shares that the Reddit guys and the Wall Avenue Bets guys pressed. I believed within the energy of the web. “
“Once I noticed what Robinhood did – mockingly Robin Hood [the app’s eponym] took from the wealthy and gave to the poor regardless that they do the precise reverse – I used to be shocked, “added Portnoy.” I believe it is prison. I believe an investigation must be accomplished. I believe folks must go to jail. “
Portnoy famous that far-right and far-left anti-establishment figures have discovered frequent floor in condemning Robin Hood and the hedge funders who’re making an attempt to ice retail buyers.
“Like 20 years in the past after I did Barstool, it is essentially the most stunning factor I’ve ever been … When you’ve gotten AOC and Donald Trump Jr. each on the identical facet of a difficulty, you already know one thing’s dramatically unsuitable,” he mentioned.
Earlier in this system, host Tucker Carlson mentioned that Robinhood payments itself as a progressive platform for day merchants to achieve a share of an in any other case elite market, whereas supporting causes such because the Black Lives Matter motion.
Nevertheless, he and Portnoy famous that Robinhood doesn’t make its cash on retail buyers however by promoting knowledge gleaned from retail buyers’ conduct to hedge funds, which they appear to carry in contempt.
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