Several member of the New York Young Republicans Club congregated in Zuccotti Park in Manhattan to protests against the hedge fund managers who targeted GameStop.
The protest targeted hedge fund managers who last week prevented a Reddit-born dash of day traders from buying GameStop stocks, which were then surging in value do to an organized counter to shorting of the company's stock.
Great shot of President @GavinWax of the @NYYRC at the #reoccupyWallStreet rally holding up the #ProjectVeritas information for anyone who wishes to contact them in regards to the Robinhood shutdown of certain stocks.
— Bobby Levy ?? (@Real_Bobby_Levy) January 31, 2021
Signal : 914-653-3110
VeritasTips@Protonmail.com pic.twitter.com/HrnXRX32Vf
"There’s some blatant corruption going on in the buildings around us and in Greenwich, [Ct.], wherever hell they are," NYYRC's president Gavin Wax told a group of around 50 protesters, the New York Post reports.
"There’s two standards. There’s rules for thee, not for me. You got these big hedge-fund guys who are trying to short companies into the ground, and then they got called on their bluff by a bunch of anonymous day traders on Reddit," he continued.
"And then they have the balls to call those guys unsophisticated,” he said. “God bless the little guy for making an honest buck and showing them how the market really works."
"They want us to bail them out, they want Janet Yellen to make phone calls for them, they want to shut down trading. Are you kidding me?"
— Gavin Mario Wax ?? (@GavinWax) January 31, 2021
"These schmucks in Wall Street or Greenwich can do whatever the hell they want to do with no repercussions."
Speech at @NYYRC rally today. pic.twitter.com/Nm3gpzNvFa
Wax's speech represents the bipartisan anger towards the unfair protection of hedge funds on Wall street. The scenario revealed that the stock market system is truly rigged against "little guy" investors looking for success as independent day traders.
"These guys have been manipulating the market to their advantage for years. For years," Wax asserted.
The hedge fund managers reportedly lobbied stock trading platform Robinhood to block users from buying GameStop stock and other stocks that were dramatically climbing in value due to a buying initiative from Reddit users.
The event's name "Re-occupy Wall Street" is a play on the left wing Occupy Wall Street protests from 2011-2012, where protesters occupied the streets of lower Manhattan for months against wealth inequality.
"We need to take a stand today, tomorrow and every day that comes forward," NYYRC vice president Vish Burra said.
"[Wall Street is] corporatizing the American dream and making a mockery of American freedom," he continued.
The event lasted two hours before disbanding.
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