News and Commentary

Jon Stewart Joins Twitter, Denounces Robinhood
Comedian and activist Jon Stewart speaks during a news conference at the U.S. Capitol in Washington, D.C., U.S. on Tuesday, Sept. 15, 2020. A 50-member group of House Democrats and Republicans released a $1.52 trillion coronavirus stimulus plan today in a long-shot attempt to break a months-long deadlock on providing relief to the pandemic-battered U.S. economy.
Stefani Reynolds/Bloomberg via Getty Images

It’s hard to believe that Jon Stewart, the former host of “The Daily Show,” had avoided Twitter all this time. Alas, there’s a first time for everything.

Over the weekend, the political comedian joined the social media giant and torched the trading app Robinhood after it implemented a trade freeze on the surging GameStop (GME) stock that the Reddit group WallStreetBets pushed in an attempt to “squeeze” big hedge fund mangers who were short-selling the stock.

“This is bulls**t. The Redditors aren’t cheating, they’re joining a party Wall Street insiders have been enjoying for years. Don’t shut them down…maybe sue them for copyright infringement instead!! We’ve learned nothing from 2008,” tweeted Stewart first.

[Warning: Strong Language]

After a warm welcome from his newfound followers, who quickly swelled to one million, Stewart then joked about becoming president if he excels on the platform.

“So…if I do really well on here I get to be President, yes?” he tweeted.

Jon Stewart joining in the hit against Robinhood and the championing of WallStreetBets represents yet another example of the bizarre coalition of diverging political opinions that seem to have united in the wake of the GameStopSurge, which has seen the likes of billionaire Mark Cuban, Donald Trump Jr., Rep. Alexandria Ocasio-Cortez (D-NY), and Sen. Ted Cruz (R-TX) all agreeing with each other.

“I got to say I LOVE LOVE what is going on with #wallstreetbets. All 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. Even my 11 yr old traded w them and made $,” tweeted Mark Cuban.

“This is unacceptable,” tweeted AOC after Robinhood initiated the freeze. “We now need to know more about @RobinhoodApp’s decision to block retail investors from purchasing stock while hedge funds are freely able to trade the stock as they see fit. As a member of the Financial Services Cmte, I’d support a hearing if necessary.”

“Inquiries into freezes should not be limited solely to Robinhood. This is a serious matter. Committee investigators should examine any retail services freezing stock purchases in the course of potential investigations – especially those allowing sales, but freezing purchases,” she added.

“Fully agree,” Cruz said in response to AOC.

“It took less than a day for big tech, big government and the corporate media to spring into action and begin colluding to protect their hedge fund buddies on Wall Street. This is what a rigged system looks like, folks! #RobinHood #RedditArmy #GME #GMEtothemoon,” tweeted Don Jr.

The former president’s son also shared a post from Barstool CEO Dave Portnoy, who tweeted: “Somebody is going to have to explain to me in what world RobinhoodApp and others literally trying to force a crash by closing the open market is fair? They should all be in jail.”

“If they take down WallStreetBets, they better take down every single Wall Street hedge fund that has been endlessly using gangster tactics to make a quick buck,” the WallStreetBets chairman tweeted.

“He’s not wrong… they just aggregated enough small retail investors in an open forum to move markets just like the big guys. It’s actually amazing to watch!!!” responded Don Jr.

Related: AOC, Don Jr., Ted Cruz All Rip Robinhood For Halting GameStop Trading: ‘Unacceptable’

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