CNN editor-general Chris Cillizza raised his eyebrows on Wednesday by suggesting that “trumpism” is behind the dramatic rise in the stock price of retailer GameStop.
The GameStop Corp. share price. rose another 130% on Wednesday in pre-market trading, with amateur investors continuing to bet on stocks whose price has skyrocketed by nearly 700% in the past two weeks.
Cillizza sought to explain the stock market phenomenon in a CNN article entitled “How Trumpism explains the rise in GameStop shares”.
“At the heart of Donald Trump’s angry populist appeal was – and is – this feeling: ‘Elites think they know better than you do. They think they can tell you how to live and what to believe in. But guess what? We the people they are smarter than the elites! ‘”began Cillizza.
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“What made Trump’s argument so potent, politically speaking, is that he was not just calling on the elites. He was saying that the average Joes needed to stand up and really show them how wrong they were – that voting for him was the best way to express his anger and frustration at the condescension of his alleged gamblers. Donald Trump offered himself as a collective middle finger to the elites. And he won. “
CNN’s general editor concluded that there is “no real point” for amateur stock brokers to buy GameStop stock “other than showing professionals – proving that they are not as smart as they think they are and that they don’t have the ability to control everything … which, again, has its roots in Trumpism. “
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“The whole idea of Trump’s candidacy and presidency was to imput it to the elites,” wrote Cillizza. “And then, well, uh, there really wasn’t a plan beyond that. Shit work was the point. This strategy … has huge limits. Putting it on the man will only take you so far. It’s not a solution for any problem. It’s just a way of expressing frustration, anger and a feeling of helplessness. “
He added, “Think of it this way: giving the finger to someone can make you feel good right now. But it doesn’t solve anything.”
Cillizza’s comment generated widespread mockery on social media.
“Okay, everyone goes home, we have the worst shot of the day. There is no need to write more,” said Jeff Blehar of National Review.
“CNN is more grift than GameStop,” joked author Ryan James Girdusky.
“Naturally, Cillizza has the most predictable and boring misunderstanding about the GameStop thing,” wrote Washington Examiner deputy editor Grant Addison.
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“How will Chris Cillizza survive on CNN without Trump in office? Well, he will try that sort of thing to meet his quotas,” wrote radio announcer Jason Rantz.
“How Trumpism explains the * spinning wheel * GameStop stock build! (Audience chokes),” commented conservative commentator Drew Holden.