Barstool Sports founder Dave Portnoy has sold off his GameStop shares at a significant loss, while calling for the founders of the Robinhood trading platform to be jailed.
The social media personality and day-trader announced on Tuesday via Twitter that he had sold his stock in GameStop, taking a $700,000 loss due to its rapidly declining share price, the New York Post reported, also blaming trading platform Robinhood for his significant loss.
GameStop shares were down 50 percent Tuesday, the Post reported, while AMC’s stock, which had also seen a run on from Reddit traders in the past week, was down 40 percent.
I have officially sold all my meme stocks. I lost 700k ish. Vlad and company stole it from me and should be in jail. pic.twitter.com/qXP1N1UFil
— Dave Portnoy (@stoolpresidente) February 2, 2021
“I have officially sold all my meme stocks.” Portnoy tweeted, also adding that Robinhood founder Vlad Tenev and the company “stole [my money] from me and should be in jail” for their move to suspend trading on stocks such as GameStop and AMC.
Portnoy has fiercely and repeatedly criticized the company’s decision to suspend trading, with him accusing the platform of “conspiring” with investors to protect large-scale investors from “the little guys,” the Post reported. (RELATED: ‘It Stinks Of Corruption’: Texas Attorney General Ken Paxton Launches Investigation Into Robinhood)
Portnoy had also gotten into spats on twitter with hedge fund billionaire Ken Griffin and New York Mets owner Steve Cohen for their comments on the rally, the Post reported. Cohen closed his twitter after debating Portnoy on the legitimacy of the rally, citing threats to his family.
Robinhood’s move to stop trading on certain stocks without warning sparked major controversy from Congress as well, with two Democrats calling for a hearing on the company’s decision, calling it akin to “market manipulation.”