Barstool Sports founder Dave Portnoy appeared on Tucker Carlson's show on Wednesday, and gave a scathing commentary of the current hedge fund fiasco.
Portnoy is also a prominent investor who said "I was shocked with this." Portnoy is referring to the trading app Robinhood, which unilaterally chose to restrict trading of certain stocks. "When I saw what Robinhood was doing...I was stunned."
"I have never been more convinced of market manipulation and the hedge funds controlling the game," said Portnoy.
Earlier last week, a group of Redditor users coalesced a movement to buy Gamestop shares and a few other selected stocks of lower value, causing the price to surge and losing hedge funds who shorted the stocks, billions of dollars.
This led to a number of trading apps, restricting access or forcing users to sell their stock. Many, like Portnoy, are now raising concerns around hedge funds potentially having too much power over these trading apps.
It remains to be seen whether Robinhood will reinstate full user access. Investors like Portnoy continue to raise issues around the ethics and legality of forcing users to sell a stock.
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