Potential investors woke up on Thursday (January 28) to some bad news. Apps such as Robinhood and TD Ameritrade suddenly wouldn’t let them trade certain stocks that have created a buzz within the Wall Street Bets Reddit community. Ja Rule joined the fray to shred Robinhood, advising buyers to hold their position and not give in to the hedge funds.
“Yo this is a fucking CRIME what @RobinhoodApp is doing DO NOT SELL!!! HOLD THE LINE… WTF,” Ja wrote seemingly playing right into Dave Chappelle’s “Where is Ja?” skit. “They hedge fund guy shorted these stocks now we can’t buy them ppl start selling out of fear… we lose money they make money on the short… THIS IS A FUCKING CRIME!”
For those who don’t know exactly what’s going on, a group of people on the Wall Street Bets Reddit page banded together to purchase GameStop stock and buy up the price in what’s known as a short squeeze, which hurts hedge funds and capital firms shorting the stock, who basically bet against a certain business since they believe it’s in decline.
GameStop’s stock price hovered around $20 per share and exploded on Wednesday (January 27) to reach a peak of $347 per share, which spilled into the mainstream and saw thousands of others wanting to get involved come Thursday. Many tried to purchase GameStop and other “Reddit”-selected stocks such as AMC and BlackBerry but were denied by apps such as Robin Hood who cited “market volatility.”
Naturally, once people heard Ja calling out Robinhood and the stock market for being frauds, they fired back with quips about his involvement in the failed 2017 Fyre Festival. Legally, the Murder Inc. vet was cleared of any wrongdoing in the $100 million lawsuit against the founders of Fyre Festival in 2019 because plaintiffs were unable to prove his social media promotion led directly to ticket sales for the fraudulent music event in the Bahamas.
Ja Rule Explains How His ICONN App Is Different From Fyre Fest App
Check out some more reactions to Ja Rule weighing in below.
There are plenty of people out here explaining the situation, all of whom are much more respected and knowledgeable on the subject. Nobody needs Ja Rule’s remedial ass or this corny website to break it down for them other then shaniqua and big momma muwanna.
Ja should shut the f*** up forever after what 50 did to his ass and that whole FYRE shitshow.
Actually, they can do it. I remember I was into cryptos when Robin hood started thinking it looked cool, until I learnt from people around the space that robinhood actually owns your portfolio and what your paying for is to use their platform. They can fucking close your account down if they want, their is nothing protecting you with this app. Invest like a regular person ja… these apps are meant to take advantage of low iq rich people.
He’s not lying though. You guys need to understand what they’re doing is illegal. Hedge Funds were losing billions so they strike back like this. Scaring people to sell.
Dont use an app for stocks. Thats some dumb ass milenial shit. Get a good broker or have your bank invest for you.
LOL Ja Rule trying to act like he’s in the know by regurgitating what he read or heard on CNBC.
if your on a bus you shouldnt be investin in stocks you should invest in a car and if you cant afford a whole stock well you prob shouldnt be buying slices or fractions of em, you could trad on cell phones for almost 20 years, laptops 25+ years i dont quite get trying to get a demo ignorant of markets involved but o tay
A car depreciates it’s value the second you drive it off the lot. But, yeah, let’s take financial advise from a clown who can’t use proper English.
invest in a car????? LMAOO MUST BE ONE OF THOSE GHETTO INVESTORS FOH WITH THIS LAME ADVICE!! LOL INVESTING IN STOCK CAN GET YOU YOUR CAR DUMB DUMB GEEZ LMAOOOOO
all these clowns chirping Ja when they have no clue what hes talking about. it is a crime to manipulate the market they way robinhood did in conjunction of those in charge of the hedge funds. twitter is a cesspool of missing chromosomes.
I love how everybody is so cool to the point that Ja Rule can’t have opinion. I wonder how many of those people laughing and taking shots at Ja Rule would trade their house for his along with his bank account and vehicles.
Only the hedge funds are allowed to cheat (manipulate) the market lol
Ja Rule a joke