Davey Day Trader rescued his stonks.
Open social media personality, Dave Portnoy tweeted Tuesday that he sold his shares at GameStop and AMC at a great loss, blaming the trading app Robinhood for killing the so-called “Reddit Rally” he joined and helped promote in recent weeks.
“I officially sold all of my meme stocks. I lost 700 thousand. ”Portnoy tweeted, taking a personal photo of Robinhood’s CEO. “Vlad and company stole from me and should be in prison.”
Portnoy’s sales come as the manic trading blitz that sent cheap stocks like GameStop and AMC to outrageous new heights fueled by retail traders using Reddit and Robinhood seems to falter.
The social media personality has also been relentless in its criticisms of the free commerce app after he made the controversial decision last week to limit the amount of GameStop and other “meme actions” that users could buy on Thursday.
He tweeted last week: “I will burn @RobinhoodApp if they close the free market”, almost immediately after the app puts limits on popular actions.
Robinhood ended up yielding a little in its restrictions, but GameStop’s shares have fallen more than 50 percent since Thursday, and AMC has dropped nearly 30 percent.
The founder of Barstool Sports, who became a popular stock market hero during the pandemic, has driven Robinhood crazy by preventing Regular Joes from maintaining pressure on Wall Street shorts, accusing the company of conspiring with billionaire investors to protect cats fatty ones.
Portnoy went so far as to say that Robinhood executives should be arrested alongside hedge fund billionaires Ken Griffin and Steve Cohen.
Cohen responded to Portnoy’s provocations on Twitter, sparking a colorful debate that caused Cohen to eventually leave the platform after Portnoy’s allies began to threaten him and his family.