{"id":114811,"date":"2021-02-01T11:22:33","date_gmt":"2021-02-01T16:22:33","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=114811"},"modified":"2021-02-01T11:27:03","modified_gmt":"2021-02-01T16:27:03","slug":"the-4-business-moguls-cheering-for-the-little-guys-in-the-gamestop-fiasco","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/the-4-business-moguls-cheering-for-the-little-guys-in-the-gamestop-fiasco\/","title":{"rendered":"The 4 Business Moguls Cheering For \u2018The Little Guys\u2019 In The GameStop Fiasco"},"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\">26<\/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%2Fthe-4-business-moguls-cheering-for-the-little-guys-in-the-gamestop-fiasco%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=114811&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><span style=\"font-weight: 400\">Wall Street is still <\/span><a href=\"https:\/\/www.dailywire.com\/news\/big-tech-bites-back-robinhood-suspends-trading-discord-bans-wallstreetbets-over-gamestocp-surge\"><span style=\"font-weight: 400\">reeling<\/span><\/a><span style=\"font-weight: 400\"> after amateur investors poured money into stocks heavily <\/span><a href=\"https:\/\/www.youtube.com\/watch?v=xszj1flDxl0\"><span style=\"font-weight: 400\">shorted<\/span><\/a><span style=\"font-weight: 400\"> by multiple hedge funds.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Many financiers were not thrilled about amateur investors\u2019 discovery of speculative trading. Omega Advisors CEO Leon Cooperman told <\/span><a href=\"https:\/\/dailycaller.com\/2021\/01\/28\/billionaire-leon-cooperman-rips-robinhood-market-says-fair-share-taxes-attack-wealthy\/\"><span style=\"font-weight: 400\">CNBC<\/span><\/a><span style=\"font-weight: 400\"> that GameStop traders \u201chave no idea what they\u2019re doing.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400\">Though many wealthy Americans familiar with the financial markets are looking upon the GameStop phenomenon with contempt, others are celebrating recent events as some form of poetic justice.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Here are four moguls who love the GameStop fiasco.<\/span><\/p>\n<p><b>Elon Musk<\/b><\/p>\n<p><span style=\"font-weight: 400\">SpaceX founder and Tesla CEO Elon Musk is thrilled by the prospect of small investors beating Wall Street elites at their own game.<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201cHere come the shorty apologists,\u201d \u201cgive them no respect,\u201d \u201cget Shorty,\u201d he <\/span><a href=\"https:\/\/twitter.com\/elonmusk\/status\/1354891972406865922\"><span style=\"font-weight: 400\">tweeted<\/span><\/a><span style=\"font-weight: 400\"> on Thursday in reference to those defending hedge funds that had bet against GameStop.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Musk \u2014 who boasts a net worth of nearly $190 billion and recently overtook Amazon founder Jeff Bezos as the world\u2019s richest man \u2014 <\/span><a href=\"https:\/\/twitter.com\/elonmusk\/status\/1354890601649610753\"><span style=\"font-weight: 400\">described<\/span><\/a><span style=\"font-weight: 400\"> the practice of shorting stocks as \u201ca scam.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400\">He is also highly critical of Big Tech\u2019s attempts to mute amateur investors\u2019 conversations. \u201cEven Discord has gone corpo \u2026\u201d Musk <\/span><a href=\"https:\/\/www.dailywire.com\/news\/even-discord-has-gone-corpo-elon-musk-rips-discord-banning-wallstreetbets\"><span style=\"font-weight: 400\">remarked<\/span><\/a><span style=\"font-weight: 400\"> after the platform banned members of r\/WallStreetBets.<\/span><\/p>\n<p><b>Dave Portnoy<\/b><\/p>\n<p><span style=\"font-weight: 400\">Joining Musk in his criticism of Big Tech and Wall Street, Barstool Sports founder Dave Portnoy posted a four-minute <\/span><a href=\"https:\/\/twitter.com\/stoolpresidente\/status\/1354848771184750598\"><span style=\"font-weight: 400\">rant<\/span><\/a><span style=\"font-weight: 400\"> to social media.<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201cWe are going to crash those stocks so all our hedge fund billionaire friends can get out and not get killed is one of the most remarkable, illegal, shocking robberies in history,\u201d said the entrepreneur. He called for the imprisonment of Robinhood and Citadel executives after stopping \u201cthe everyday Jimmy and Joe\u201d from investing \u201cfair and square.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400\">Portnoy repeatedly expresses frustration toward government officials whose COVID-19 policies resulted in massive job losses. He recently launched the <\/span><a href=\"https:\/\/www.barstoolsports.com\/the-barstool-fund\"><span style=\"font-weight: 400\">Barstool Fund<\/span><\/a><span style=\"font-weight: 400\">, which has raised over $33 million and saved 196 small businesses from bankruptcy.<\/span><\/p>\n<p><b>Mark Cuban<\/b><\/p>\n<p><span style=\"font-weight: 400\">Mark Cuban \u2014 multibillionaire owner of the Dallas Mavericks and personality on ABC\u2019s \u201cShark Tank\u201d \u2014 hopes that the GameStop phenomenon marks the beginning of a great equalizer on Wall Street.<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201cI got to say I LOVE LOVE what is going on with #wallstreetbets,\u201d he <\/span><a href=\"https:\/\/www.dailywire.com\/news\/mark-cuban-backs-wallstreetbets-i-love-love-what-is-going-on\"><span style=\"font-weight: 400\">said<\/span><\/a><span style=\"font-weight: 400\"> on Twitter. \u201cAll of those years of High Frequency Traders front running retail traders, now speed and density of information and retail trading is giving the little guy an edge.\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201cEven my 11 yr old traded w them and made $,\u201d he added.<\/span><\/p>\n<p><span style=\"font-weight: 400\">Cuban told CNBC\u2019s \u201cSquawk Box\u201d that institutional investors should have known the risks of shorting stocks.<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201cAs someone who\u2019s shorted stocks many times\u2026 you know exactly what you\u2019re getting into, and you know exactly what the risks are,\u201d he commented.<\/span><\/p>\n<p><b>Kevin O\u2019Leary<\/b><\/p>\n<p><span style=\"font-weight: 400\">Fellow \u201cShark Tank\u201d investor Kevin O\u2019Leary is also pleased with the GameStop debacle.<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201cOld days where a hedge fund manager could quietly short a stock, then publish negative research and take a bullhorn to it in the media are over,\u201d <\/span><a href=\"https:\/\/twitter.com\/kevinolearytv\/status\/1354788578316988417\"><span style=\"font-weight: 400\">tweeted<\/span><\/a><span style=\"font-weight: 400\"> the Canadian entrepreneur. \u201cThey now run the risk that he power of the crowd will turn on them and squeeze their heads like a teenage pimple. I&#8217;m good with it!\u201d<\/span><\/p>\n<p><span style=\"font-weight: 400\">Yesterday, O\u2019Leary took a moment to troll Rep. Alexandria Ocasio-Cortez (D-NY) by <\/span><a href=\"https:\/\/twitter.com\/kevinolearytv\/status\/1354904648080101380\"><span style=\"font-weight: 400\">purchasing<\/span><\/a><span style=\"font-weight: 400\"> one of her \u201cTax The Rich\u201d sweatshirts and analyzing her lucrative margins.\u00a0<\/span><\/p>\n<p><span style=\"font-weight: 400\">\u201cInside of every socialist there is a capitalist screaming to get out!\u201d he told the Congresswoman.<\/span><\/p>\n<p><i>The views expressed in this piece are the author\u2019s own and do not necessarily represent those of The Daily Wire.<\/i><\/p>\n<p><i>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<\/i><a href=\"https:\/\/www.dailywire.com\/subscribe\">\u00a0<i>member<\/i><\/a><i>.<\/i><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Wall Street is still reeling after amateur investors poured money into stocks heavily shorted by multiple hedge funds. Many financiers were not thrilled about amateur investors\u2019 discovery of speculative trading. &#8230;<\/p>\n","protected":false},"author":1,"featured_media":1892362,"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":[4284,4529,3705,4535,4532,4526],"class_list":["post-114811","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","tag-business","tag-cheering","tag-gamestop","tag-guys","tag-little","tag-moguls"],"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\/114811","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=114811"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/114811\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1892362"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=114811"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=114811"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=114811"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}