"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," the Fox Business host said.
January 28, 2021

On Fox Business last night, Neil Cavuto talked about the catalyst for the massive GameStop short squeeze being executed on Reddit.

Activist investor Ryan Cohen, founder of Chewy.com, bought nine million shares of GameStop, gained three board seats, and was pushing GameStop toward converting to an online retailer. That seemed promising to Reddit's investor community, but the hedge funds instead decided to short the stocks instead.

"All of this nonsense, all of this noise, all this whining by Wall Street, it's making me sick," Charles Payne responded. "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 percent short.

"Neil, you can't allow Wall Street to short 75 percent of a stock and nobody says anything, crush these companies into the dirt and then when the individual investor makes money, everyone's up in arms. 'Oh, they're gonna lose their shirt!' Don't you think people are trading if they traded 80 billion shares a day? People are ringing a register. I have a kid who bought a house, he made fifty thousand dollars and bought a house.

"So yes, some people are going to lose it, some are going to win. But if you 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've 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 to a reverse takeover.

"Whatever it was, the shorts have had their way with the market for decades, no one's ever complained about it, so I am thrilled. If you were going to try to destroy a company by shorting 140 percent of a stock, you have to accept the fact that individual investors are playing the same game that you're playing and now you're losing."

And things like this are exactly why the WallStreetBets Reddit investors are angry in the first place. The same trading apps they used to buy their GameStop shares are this morning blocking any more sales:

The market was flooded yesterday with GameStop buyers, but they weren't retail investors. It was the market moving in to protect its own, and teach those rowdy upstarts a thing or two. Namely, we're in charge and don't even think otherwise.

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