Inject this right into our veins, great stuff from Fox Business’ Charles Payne.
Payne went off yesterday about the Wall Street elites crying about everyday investor causing GameStop stock to skyrocket.
“first of all, all this nonsense, all of this noise, all this whining by Wall Street, it's making me sick! 140% of GameStop was short. I didn't hear one person on TV complaining about Wall Street trying to crush GameStop claim. 140% short!I told my subscribers, buy this stock and they made a fortune.I also told them to buy Virgin Space, we took profits on that today...
You can't allow Wall Street to short 75% of the stock and nobody says anything, crush these companies into the dirt and then when the individual investor makes money everyone is up in arms. 'They're going to lose their shirt!' Don't you think people are trading, it traded 80 billion shares today. People are ringing the register.
I have a kid who bought a house. He made $50,000 and bought a house.
So, yeah, some people are going to lose and some are going to win, if they want to change the rules of the game now because the general public is making money after decades of the shorts crushing thousands of stocks into the dirt, I have watched stocks being crushed completely to zero and no one ever whispered anything because those stocks didn't have Wall Street sponsorship. They were small names. Maybe they went public through a reverse takeover.
Whatever it was, the shorts had their way with the market for decades. No one has ever complained about it. So I am thrilled. If you are going to try to destroy a company by shorting 140% of its stock, you have to accept the fact that individual investors are playing the same game that you're playing and now you're losing."