Barstool Sports Founder Dave Portnoy and hedge fund manager Steve Cohen on Thursday argued via Twitter TWTR over the battle between retail traders and hedge funds.
What Happened: Portnoy has spent the past few days defending the retail traders who helped send shares of stocks like GameStop Corp GME and AMC Entertainment AMC massively higher.
“Why was trading halted on $AMC $GME $NOK $SNDL $NAKD?” Portnoy asked Steve Cohen, the founder of the Point72 hedge fund.
Cohen, who also owns the New York Mets, denied having anything to do with brokers halting the trade of certain stocks on Thursday.
The accusation could come in response that Point72 has suffered large losses from a short position in GameStop. Point72 also provided funding for Melvin Capital, which suffered large losses from GameStop’s run.
“You bailed out Melvin cause he’s your boy along with Citadel. I think you had strong hand in todays criminal events,” Portnoy said.
Cohen told Portnoy he’s just trying to make a living.
“Those questions should be directed at Robin Hood etc. I’m a trader just like you are. When you find out give me a holler,” Cohen said.
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What's Next: The two did agree that an investigation is needed into Thursday’s events as Portnoy called phone records and surveillance to be turned over. The two agreed brokers should be making statements on Thursday’s event as well.
“We agree on that. And I want lie detectors everywhere,” Cohen said.
Portnoy, however, got the last word in.
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