{"id":114397,"date":"2021-01-31T15:20:05","date_gmt":"2021-01-31T20:20:05","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=114397"},"modified":"2021-01-31T15:27:00","modified_gmt":"2021-01-31T20:27:00","slug":"wolf-of-wall-street-jordan-belfort-on-little-guy-stock-win-its-about-time","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wolf-of-wall-street-jordan-belfort-on-little-guy-stock-win-its-about-time\/","title":{"rendered":"\u2018Wolf Of Wall Street\u2019 Jordan Belfort On \u2018Little Guy\u2019 Stock Win: \u2018It\u2019s About Time\u2019"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">28<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fwolf-of-wall-street-jordan-belfort-on-little-guy-stock-win-its-about-time%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=114397&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>You may not know the name, but you know his moniker: The Wolf of Wall Street.<\/p>\n<p>Jordan Belfort, the former stockbroker and convicted felon made even more famous by the 2013 Leonardo DiCaprio film, weighed in Saturday on the GameStop-WallStreetBets-Robinhood\u00a0saga.<\/p>\n<p>&#8220;It\u2019s about time that the little guy gave it to Wall Street. It\u2019s so gratifying to see. I\u2019m still in shock of it actually happening,&#8221; Belfort said.<\/p>\n<p>In an <a href=\"https:\/\/www.foxnews.com\/media\/jordan-belfort-wolf-of-wall-street-on-little-guy-stock-wins-its-about-time\">appearance<\/a> on \u201cWatters\u2019 World\u201d on Fox News, host Jesse Watters said\u00a0moves by Wall Street conglomerates to pressure retail trading platforms like Robinhood to stop trading on stocks like GameStop was likely illegal.<\/p>\n<p>&#8220;I think it goes beyond that,&#8221; Belfort said. &#8220;When I first saw it happen \u2026 when I really investigated what happened,&#8221; he said, &#8220;they broke a tremendous amount of laws \u2026\u201d<\/p>\n<p>&#8220;I think Robinhood\u2019s out of business because the amount of lawsuits they\u2019re gonna get right now, from every single person on both sides of it \u2026 They\u2019ll say, \u2018Wait, I couldn\u2019t buy &#8230; what I wanted to buy,\u2019 or \u2018I was forced to sell\u2019 \u2014 They\u2019re done, Robinhood.&#8221;<\/p>\n<p>&#8220;Someone needs to go to jail, it\u2019s true,&#8221; he added. &#8220;At first I wasn\u2019t that upset, but last night I saw that the shorts were still short.&#8221;<\/p>\n<p>A throng of Average Joes driven by a Reddit poster started buying up GameStop shares as big brokers were shorting them, which thrust hedge funds billions of dollars into the red and propped up a failing video game company well beyond its actual value. Sites like Robinhood eventually halted the sale of Gamestop shares.<\/p>\n<p>&#8220;They shut down these platforms for the little guy like the way Parler got shut down,&#8221; he said, comparing the situation to that of Parler, a social media platform essentially shut down by Amazon.<\/p>\n<p>&#8220;Now, how about this one?&#8221; Belfort said. &#8220;Google eliminated 100,000 negative reviews off of Robinhood. \u2026 I can\u2019t believe the things that are being allowed to happen right now and it\u2019s almost like Big Tech has impunity, Wall Street has had impunity. &#8230; Until someone goes to jail for this, it\u2019s gonna keep happening again and again.&#8221;<\/p>\n<p>But Belfort warned investors.\u00a0&#8220;Please be careful,&#8221; he said, &#8220;because at a certain point in time the party\u2019s gonna end for these stocks and they\u2019re gonna drop precipitously \u2014 and unless you\u2019re careful you\u2019re gonna lose a ton of money.&#8221;<\/p>\n<p>The Gamestop stock price skyrocketed by around 8,000% from six months ago. Big brokers, hedge funds, and professional investors were short-selling, which means they borrowed shares of stock to sell and planned to buy them back later so they could return them, letting them pocket the profit if the stock price went down.<\/p>\n<p>&#8220;Because short sellers \u2014 frequently hedge funds \u2014 in essence are betting against a company&#8217;s success, it can be a risky position,&#8221; NBC <a href=\"https:\/\/www.nbcnews.com\/business\/business-news\/gamestop-reddit-explainer-what-s-happening-stock-market-n1255922\">explained<\/a>. &#8220;Any positive news or enthusiasm for the stock will push up the stock&#8217;s valuation, minimizing profit for the short seller. In the case of GameStop, chatter on massive online trading forums invigorated interest in buying the stock, pushing up the price, which in turn fueled more interest.&#8221;<\/p>\n<p>&#8220;The speculative trading left short sellers with no more shares to buy to cover their positions, creating a short squeeze and leaving them with millions of dollars in stocks they had bought at a high price but which they then had to offload at an even higher price,&#8221; NBC said.<\/p>\n<p><strong>Related: <a href=\"https:\/\/www.dailywire.com\/news\/reddits-wall-street-bets-and-elon-musk-fuel-gamestops-stock-surge\">Reddit\u2019s \u2018Wall Street Bets\u2019 And Elon Musk Fuel GameStop\u2019s Stock Surge<\/a><\/strong><\/p>\n<p><i><span style=\"font-weight: 400\">The Daily Wire is one of America\u2019s fastest-growing conservative media companies and counter-cultural outlets for news, opinion, and entertainment. Get inside access to The Daily Wire by becoming a <\/span><\/i><a href=\"https:\/\/www.dailywire.com\/subscribe\"><i><span style=\"font-weight: 400\">member<\/span><\/i><\/a><i><span style=\"font-weight: 400\">. <\/span><\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>You may not know the name, but you know his moniker: The Wolf of Wall Street. Jordan Belfort, the former stockbroker and convicted felon made even more famous by the &#8230;<\/p>\n","protected":false},"author":1,"featured_media":1892306,"comment_status":"close","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[4357,4358,4356,4359,4355,4354],"class_list":["post-114397","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-belfort","tag-guy","tag-jordan","tag-stock","tag-street","tag-wall"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/114397","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=114397"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/114397\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1892306"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=114397"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=114397"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=114397"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}