Davey Day Trader saved his hammers.
Social media personality Dave Portnoy wrote on Twitter on Tuesday that she sold her shares to GameStop and AMC with major losses, blaming the Robinhood trading app for killing the so-called “Reddit Rally” she joined and helped promote it in recent weeks.
“I officially sold all my meme stocks. I lost 700k ish. “Portnoy wrote on Twitter, taking a personal hit on Robinhood CEO. “Vlad and company stole it from me and it should be in jail.”
The sale of Portnoy comes when the manic trading flash that sent cheap stocks, such as GameStop and AMC, to outrageous new heights fueled by retailers using Reddit and Robinhood seems to be faltering.
The social media personality has also been relentless in its criticism of the fee-free trading app, after last week’s controversial decision to limit the amount of GameStop and other “meme stocks” that users could buy Thursday.
Last week, he wrote on Twitter: “I will burn @RobinhoodApp to the ground if they close the free market trading”, almost immediately after the application put limits on popular actions.
Robinhood eventually gave in to some of its restrictions, but GameStop shares fell more than 50 percent on Thursday, and AMC fell nearly 30 percent.
The founder of Barstool Sports, who became a popular trading hero during the pandemic, spoke out against Robinhood for preventing Regular Joes from maintaining pressure on Wall Street shorts, accusing the company of conspiring with billionaire investors to protect cats. fat little boys.
Portnoy went so far as to say that Robinhood executives should be locked up with hedge fund billionaires Ken Griffin and Steve Cohen.
Cohen responded to Portnoy’s challenges on Twitter, sparking a colorful debate that led Cohen to eventually leave the platform after Portnoy’s allies began threatening him and his family.