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Barstool Sports founder Dave Portnoy directed his anger over the commercial drama GameStop and Robinhood at New York Mets billionaire owner Steve Cohen on Twitter on Thursday about his hedge fund’s role in rescuing Melvin Capital, one of the first almost implosions, linked to the commercial frenzy in selecting stocks.
| Ticker | Safety | Last | change | Change % |
|---|---|---|---|---|
| GME | GAMESTOP CORP | 193.60 | -153.91 | -44.29% |
Cohen’s Point72 Asset Management hedge fund invested $ 750 million in Melvin Capital on Tuesday, along with the $ 2 billion bailout of Citadel, a company run by another billionaire Ken Griffin.
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Cohen responded to Twitter by firing: “Rough crowd on Twitter tonight. Hey, the jockeys keep bringing it. “
Portnoy, following Robinhood’s new trade restrictions on Thursday, quoted Cohen’s message questioning his connection to the “madness” of the day.
In another tweet about the trading app, Portnoy again called Cohen for his involvement with the hedge fund, this time demanding “Arrest or Seizure”.
But Cohen responded this time by saying, “Hey, Dave, what’s your problem with me. I’m just trying to make a living like you. I’m happy to take that offline. “
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Portnoy responded, accusing Cohen of being involved in “today’s criminal events”.
“I don’t do it offline. That’s where the dark happens. You saved Melvin because he is the boy with Citadel. I think you had a strong influence on today’s criminal events to save hedge funds at the expense of ordinary people. Do you unequivocally deny this? “
Cohen clearly denied the charge. “If I want to make an additional investment with someone, I am sure, as long as it is in the interest of my investors.”
“To relax.”
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The comings and goings continued, but Cohen tried to spread the situation, telling Portnoy that he is “a broker like you” and that it is “reasonable” for brokers to make a statement regarding the new trade restrictions.
Cohen continued to offer further explanations, to which Portnoy replied, “At least you are talking and trying to answer. This is appreciated.”
| Ticker | Safety | Last | change | Change % |
|---|---|---|---|---|
| SCHW | CHARLES SCHWAB | 53.74 | +0.45 | + 0.84% |
Robinhood, TD Ameritrade, which is owned by Charles Schwab, along with other online applications restricted to trading on Thursday, respectively, after an unexpected increase in the volume of stock trading not only by GameStop, but AMC Entertainment, Bed Bath & Beyond, BlackBerry and others.
| Ticker | Safety | Last | change | Change % |
|---|---|---|---|---|
| AMC | AMC ENTERTAINMENT HOLDINGS INC | 8.63 | -11.27 | -56.63% |
| BB | BLACKBERRY LIMITED | 14.65 | -10.45 | -41.63% |
| BBBY | BED BATH & BEYOND INC. | 33.64 | -19.25 | -36.40% |
ROBINHOOD RESTRICTS THE TRADING OF SELECTED SHARES
The company said on a Thursday that it was “restricting transactions in certain securities to closing positions only, including $ AAL, $ AMC, $ BB, $ BBY, $ CTRM, $ EXPR, $ GME, $ KOSS, $ NAKD , $ NOK, $ SNDL, $ TR and $ TRVG “and” high margin requirements for certain securities. “
Audrey Conklin of Fox Business contributed to this report.