Jon Stewart's First-Ever Tweet Is Causing Quite A Stir

If you browsed the internet on January 27 or Jan. 28, 2021, there's a huge chance you saw people freaking out over Reddit, GameStop, stocks, Wall Street, or likely a combination of all four. In case you still need a briefing, Nicki Swift has you covered.

A Reddit group took aim at some short sellers who bet billions that gaming company GameStop stocks would soon drop. The amateur traders shared tips via Reddit and other social networking sites and started buying stock in GameStop, causing the share price for GameStop stocks to increase, as reported by NPR. The price of GameStop shares further skyrocketed after Tesla CEO Elon Musk simply tweeted "Gamestonk!!" which sent more attention to the situation. According to the BBC, this uptick in trading caused GameStop shares to grow to more than 700 percent in one week, causing the hedge funds who betted billions to lose their money.

In response to the "significant market volatility," trading platform Robinhood declared on January 28 that it would limit trading of the stock to "help customers stay informed," per CNN. Charles Schwab was another broker who limited trades. This action triggered major backlash from ordinary citizens and big stars like Barstool Sports President David Portnoy, who said it was completely "unfair" to restrict the trade. Among the people who reacted to Robinhood's move, which landed them a class action lawsuit, was Jon Stewart. Stewart dedicated his first-ever tweet to the chaos, and it's causing quite a stir.

Jon Stewart is aghast at Robinhood for limiting trades

Jon Stewart's first-ever tweet directly addressed Robinhood's decision to restrict GameStop trades along with stocks of other companies experiencing similar surges like AMC, Bed, Bath & Beyond, Blackberry, and Nokia. "This is bulls**t," he slammed. "The Redditors aren't cheating, they're joining a party Wall Street insiders have been enjoying for years. Don't shut them down...maybe sue them for copyright infringement instead!! We've learned nothing from 2008," he said, before signing off with a "Love StewBeef."

His tweet received quite a few reactions from people on both sides of the situation. One supporter gave him an excited, "Yes!" and further explained the issue. Another person, in agreement, called Robinhood's activities "criminal." However, many also disagreed with Stewart and explained that the Reddit users already lost. "I have no sympathy at all for the big institutional and hedge fund investors, but this little saga is not going to end well for the rag-tag band of redditors. Cheer them on all you like, but this is not a game they can win," one Twitter user stated. 

However, some people were simply shocked to see the comedian on Twitter at all. "Well I'll be damned... hell froze over and Jon Stewart came to Twitter over a Reddit movement," a stunned user commented. "What is 2021?"