Jordan Belfort dived back into his old role based on his 2007 memoir in a video posted on YouTube on Monday recreating a scene from Wolf of Wall Street

In the video, which lasts nearly three minutes, the one-off New York multimillionaire stockbroker (mostly Reddit) encouraged stock traders not to be intimidated by hedge funds and short sellers while simultaneously accessing the Robinhood app last week restricted the purchase of GameStop shares

“We’re not fucking going away !!! #GME #HoldTheLine,” tweeted Belfort in addition to sharing the video, “Hold the line” was r / WallStreetBets’ slogan on Reddit, where risky stocks are being pushed

The video shows Belfort delivering his character’s speech in the movie The Wolf of Wall Street when he told his firm’s employees he was not going to leave the business, which was part of his fraud and corruption lawsuit by Leonardo DiCaprio acted scene is one of the most memorable and intense in the 2013 Martin Scorsese film

The video – parody or not – is a departure from the news Belfort shared last week when he warned that “massive sacrifices” would result in tampering with GameStop and AMC stocks

“The problem is that it’s kind of a loose collision where one person says, ‘Let’s stick together and stay strong’ And in theory it’s illegal,” Belfort said then, “But I doubt the [ US. Securities and Exchange Commission] would try to make a case out of this “

Belfort warned at the time: “Remember, every time the market goes up, GameStop will go up, it gets harder and harder to take that next step because market cap just isn’t sustainable. So at some point someone has to do the Cross out people who sell and move on to the next “

Belfort – banned from the securities industry due to his beliefs and acting as a broker or investment advisor – did not specifically say what shareholders should do

An SEC official could not be immediately reached to comment on whether the video exceeded any limits, but the financial industry’s BrokerCheck system states, “The SEC has prevented this person from acting as a broker or investment advisor act or otherwise associate with companies that sell securities or provide investment advice to the public “

GameStop stock surged to nearly $ 500 per share last week before falling back to earth and trading at $ 225 on Monday afternoon, while GME $ traded at $ 5 per share two months ago

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Jordan Belfort

World News – CA – Jordan Belfort Encourages GameStop Dealers About “Wolf Of Wall Street” Scene

Source: https://www.hollywoodreporter.com/news/jordan-belfort-encourages-gamestop-traders-via-wolf-of-wall-street-scene