- Fox Business host Charles Payne grilled Barstool Sports founder Dave Portnoy for selling his GameStop shares, pointing out that many people are calling him “paper hands.”
- A six-minute clip from the interview received more than 13,000 upvotes or likes on Reddit’s Wall Street Bets.
- Redditors cheered Payne’s name-calling and line of questioning on Portnoy, who said he bought into GameStop and other meme stocks and then sold at an approximate $700,000 loss after Robinhood paused trading.
- See more stories on Insider’s business page.
1. Portnoy: “Those people are idiots. We don’t pay any attention to those morons.”
Payne said many retailers were drawn into the meme-stock craze because of Portnoy and were “disappointed and angry” at him for selling. When asked what he’d say to them, Portnoy said he doesn’t pay attention to haters.
2. Portnoy: “Anyone who says ‘paper hands,’ I’d like to wrap them in toilet paper and glue lettuce to them and set them afloat in the ocean”
“Paper hands” is a common term on Wall Street Bets for retail traders who don’t hold onto their investment. By contrast, people with “diamond hands” hold longer. Payne noted the Barstool Sports founder has been called a “paper hands” for selling his meme-stock position. To which Portnoy said: “People who are saying paper hands and this and that, they lost 5 cents; they lost a nickel. I lost 700 grand. I got out of it; I took a beating.”
3. Payne: “You’re going to owe a lot of people an apology”
Payne told Portnoy he’d owe the meme-stock traders an apology for selling and helping the Wall Street establishment. “You didn’t live up to what you were saying; you helped create a movement and at the first sign of danger, you were the one who blinked,” Payne said.
4. Portnoy: “If you listen to what people say on social media, you’ll never leave your mom’s basement.”
Portnoy said people mad at him were just on Twitter, stirring the pot.
5. Payne: “You’re being a little b***h”
Near the end of the heated exchange, Payne called Portnoy the derogatory term after the Barstool Sports founder noted that he sold because Robinhood halted GameStop trading. Portnoy laughed at the name-calling and said, “I like that.”