This browser does not support the Video element.
In duel with small investors over GameStop stock, big funds blink
Across most of America, GameStop is just a place to buy a video game. On Wall Street, though, it’s become a battleground where swarms of smaller investors see themselves making an epic stand against the 1%.
CHICAGO - New York Mets billionaire owner Steve Cohen deleted his Twitter account over death threats aimed toward his family after a heated week over his dealings with GameStop, he said in a statement Saturday.
He said he was going to "take a break for now."
Cohen took a lot of heat as his hedge fund Point72 Asset Management invested $750 million into Melvin Capital on Tuesday alongside Citadel’s reported $2 billion bailout, that firm is run by another billionaire Ken Griffin.
Cohen took to Twitter to fire back, saying, "Rough crowd on Twitter tonight. Hey stock jockeys keep bringing it."
The tough attitude caught the attention of Barstool Sports’ founder Dave Portnoy on Thursday. Portnoy railed against Robinhood for limiting trades on rising stocks like GameStop and AMC.
This browser does not support the Video element.
David Portnoy weighs in as Robinhood app slammed amid GameStop stock turmoil
FOX 32 talks with Barstool Sports founder David Portnoy regarding the recent Robinhood app criticism and chaos surrounding the GameStop stock.
The two sparred on social media before it looked like they agreed to go their own separate ways. By Friday, Cohen wanted to go back to Mets talk but later deleted his entire account.
Mets fans and media alike reacted.
Robinhood, TD Ameritrade, which is owned by Charles Schwab, along with other online apps restricted trading on Thursday, respectively, following an unexpected surge in trading volume of shares of not only GameStop but AMC Entertainment, Bed Bath & Beyond, BlackBerry and others.
The company said in a Thursday that it was "restricting transactions for certain securities to position closing only, including $AAL, $AMC, $BB, $BBY, $CTRM, $EXPR, $GME, $KOSS, $NAKD, $NOK, $SNDL, $TR, and $TRVG" and "raised margin requirements for certain securities."
On Friday, GameStop closed at 325.00 and AMC closed at 13.26.
Fox News' Paulina Dedaj contributed to this report.
For more, go to Foxbusiness.com.