Skip to main content

Market Overview

WallStreetBets Gets Shoutouts From Cuban, Portnoy, Musk, AOC: Who's Saying What

Share:
WallStreetBets Gets Shoutouts From Cuban, Portnoy, Musk, AOC: Who's Saying What

WallStreetBets, the Reddit forum responsible for the rally in GameStop Corp. (NYSE: GME) and multiple other stocks, is getting ample support on social media after it briefly went private on Wednesday. The discussion board was also taken off of Discord’s service the same day.

Celebrities, politicians, investors, and executives are clamoring to the defense of r/WallStreetBets and calling highlighting the perceived unfairness of the situation. Here is what they are saying:

See also: How To Buy Nokia Stock

Dave Portnoy: Entrepreneur David Portnoy did not mince words in a video he posted on Twitter Wednesday. The Barstool Sports owner prophesied that “tomorrow will be intergalactic” for the stocks of AMC Entertainment Holdings Inc (NYSE: AMC), GameStop, and Nokia Oyj (NYSE: NOK). The Reddit frenzy pushed the stocks of these three companies 301.21%, 134.84%, and 38.48% higher, respectively, on Wednesday.

Although, after the forum went private the stocks saw declines in the after-hours session of 26.58%, 15.97%, and 9.47% respectively. Portnoy disclosed that he had over a million dollars in both AMC and Nokia and admitted he was “getting hit a little bit right now since they took out Wall Street Bets.”

Portnoy said he received a bottle of Dom Perignon Champagne at a restaurant while at dinner with a note with ticker symbols of Nokia and AMC which read “to the moon….” 

Mark Cuban: “Shark Tank” fame Mark Cuban thinks r/WallStreetBets is giving “the little guy an edge.” The investor revealed even his 11-year old made money trading with them.

Chamath Palihapitiya: Virgin Galactic Holdings Inc (NYSE: SPCE) Chairman Chamath Palihapitiya closed his position in GameStop a day after joining the Reddit rollercoaster, reported CNBC. The SPAC King vigorously defended retail investors while appearing on “Fast Money.”

See Also: Chamath Palihapitiya Buys GameStop Calls, Bets On Shares Hitting $115

“Instead of having ‘idea dinners’ or quiet whispered conversations amongst hedge funds in the Hamptons these kids have the courage to do it transparently in a forum,” said Palihapitiya.

“What it proves is this retail [investor] phenomenon is here to stay. There are 2.7 million people inside wallstreetbets. I think they are as important as any hedge or collection of hedge funds.”

Elon Musk: CEO of Tesla Inc (NASDAQ: TSLA), Elon Musk, also expressed disappointment with Discord over the company pulling the plug on r/WallStreetBets. 

“Even Discord has gone corpo …,” said the multi-billionaire. Earlier, Musk had tweeted in support of the community pushing the stock of GameStop higher. 

Alexandria Ocasio-Cortez The Reddit board also garnered the support of Rep. Alexandria Ocasio-Cortez (D-NY).

Read Next: AMC, National Beverage And 8 More Heavily-Shorted Stocks To Watch

 

Related Articles (GME + NOK)

View Comments and Join the Discussion!

Posted-In: Alexandria Ocasio-Cortez Chamath Palihapitiya Dave Portnoy Elon MuskNews Events Tech Media Best of Benzinga

Don't Miss Any Updates!
News Directly in Your Inbox
Subscribe to:
Benzinga Premarket Activity
Get pre-market outlook, mid-day update and after-market roundup emails in your inbox.
Market in 5 Minutes
Everything you need to know about the market - quick & easy.
Fintech Focus
A daily collection of all things fintech, interesting developments and market updates.
SPAC
Everything you need to know about the latest SPAC news.
Thank You

Thank you for subscribing! If you have any questions feel free to call us at 1-877-440-ZING or email us at vipaccounts@benzinga.com