. Charles Payne EXPLODES on Wall Street ‘Whining’ Over Skyrocketing GameStop Stock: ‘It’s Making Me Sick!’ - News Times

Charles Payne EXPLODES on Wall Street ‘Whining’ Over Skyrocketing GameStop Stock: ‘It’s Making Me Sick!’

By News Here - 16:08

Fox Business host Charles Payne struck an angry, populist tone against Wall Street on Wednesday, lashing out at the hedge funds now facing massive losses because Reddit-based retail investors have sent the share price of GameStop stock and other companies the market had bet against skyrocketing.

Speaking on Cavuto Coast-to-Coast, Payne expressed his disgust that the financial industry’s primary concern about the sudden, unexpected explosion in GameStop shares seemed to focus primary on the plight of large institutional investors — and how to protect them. And the Fox Business host wasn’t the only one incensed at the establishment concern for billionaires over small day traders on Wednesday.

“The shorts, first of all, all this nonsense, all of this noise, all this whining by Wall Street, it’s making me sick!” Payne exclaimed, taking off his glasses and waving a piece of paper in frustration. “One hundred forty percent of GameStop was short. I didn’t hear one person on TV complaining about Wall Street trying to crush GameStop, 140% short!”

“Neil, you can’t allow Wall Street to short 75% of a stock and nobody says anything, crush these companies into the dirt, and then when the individual investor makes money everyone is up in arms,” Payne continued.  “‘Oh, they’re going to lose their shirt? Don’t you think people are trading, 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, some are going to win. But 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 watched stocks being crushed completely to zero and no one ever whispered anything because those stocks didn’t have Wall Street sponsorship.”

Moments later, however, Charlie Gasparino weighed in with a warning for the small investors who might not understand the looming consequences of their role in creating a stock price bubble.

“People, Neil, will lose the house on this trade, we should point out,” Gasparino said, urging caution. “I don’t care what anybody says here, the retail investor is often the last out when this thing implodes and it will implode.”

Watch the video above, via Fox Business Network.

The post Charles Payne EXPLODES on Wall Street 'Whining' Over Skyrocketing GameStop Stock: 'It's Making Me Sick!' first appeared on Mediaite.



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