Dozens of members of the New York Republican Youth Club jumped into the anti-Wall Street vehicle on Sunday, gathering in Manhattan’s Zuccotti Park to blow up GameStop’s hedge fund managers.
“Re-Occupy Wall Street” protesters have snatched big money investors as “contemptuous” because they stopped “past weeks” that fed Reddit on the video game seller’s stock to bolster it. after the people bet on the tank.
“There is some blatant corruption in the buildings around us and in Greenwich, [Ct.]”Wherever there is hell,” Gavin Wax, the group’s president, told about 50 protesters.
“There are two standards,” Wax said. “There are rules for you, not for me. You took these big speculative fund guys trying to get companies into the ground and then they were called to their bluff by a bunch of anonymous day traders on Reddit.
“And then they have the balls to call those guys careless,” he said. “God bless the little one for winning an honest dollar and showing them how the market really works.
Wax predicted that deep-pocket hedge funders would now cry and have their crocodile tears on CNBC and tell us, “Oh, you know, you’re manipulating the market.”
“These guys have been manipulating the market to their advantage for years. For years “, he said about the rich investors in shares.
Sunday’s protest – formed after left-wing Occupy Wall Street demonstrations that began in the park in 2011 – resulted from a move by Wall Street speculative funds to bet on declining GameStop stocks, prompting a Reddit impulse to l buy it on trading apps, such as Robinhood to keep it up.
Angry hedge funds that are losing money would have put pressure on Robinhood to stop trading the shares to stop its losses. Robinhood has temporarily stopped trading.
The game store, once a base in US malls, was in serious decline before the populist took action.
Robinhood was slapped in a class action lawsuit in Manhattan last week for withdrawing the store’s shares from its trading options.
According to Republican Youth, Sunday’s protest was not linked to political affiliations – they called it a non-partisan event.
“We need to take a stand today, tomorrow and every day ahead,” Young Republican Vice President Vish Burra told the rally. “[Wall Street is] embodying the American dream and mocking American freedom. ”
The group remained in the park for about two hours before disbanding.
Among those who spoke at the rally was the hope of Mayor and Guardian Angels founder Curtis Sliwa, who considered it hypocritical that Wall Street bankers took billions of dollars in tax-funded bailouts in 2008, only to cry now.
“They cheated on little people once,” Sliwa said. “Let’s get these speculative fund monsters before they catch us.”