Jordan Belfort, the infamous stockbroker who inspired the hit 2013 film “The Wolf of Wall Street,” is hosting a new documentary for the Discovery+ streaming service about the wild rise and fall of GameStop’s stock.
Discovery took notice when Belfort weighed in as the GameStop saga unfolded, telling news outlets that the “little guy” can “play the same game” as the Wall Street overlords. He also posted a video to YouTube in which he reenacted a scene from Martin Scorsese’s Oscar-nominated “Wolf of Wall Street,” which was based on his 2007 memoir of the same name.
Belfort recently sat down with The Post to chat about the meme stocks, how the Reddit rally took hold and what investors should do now.
New York Post: You tweeted out that video that was very similar to “The Wolf of Wall Street” speech, and seemed to be urging the WallStreetBets guys to hold onto their investments. How would you compare the Reddit crowd to the traders at your old firm, Stratton Oakmont?
Jordan Belfort: So that, that video was a joke. That was meant to be a funny thing. And just to be clear, I never invested in GameStop because I figured if I put a video like that out, I was investing, people might say I’m trying to do something. The comparisons are interesting between what happened at Stratton because in some respects when I first saw the whole thing going on, I thought, oh, it’s like a pump and dump, right? I mean, it seemed pretty obvious to me like when it first started. But when I started to dig more into it, [I saw] they’re not dumping. There’s no dump on the pump. It’s an oddity in the sense that there’s this really strong emotional attachment to the stock and they’re really ultra long-term players, and for many of them, it’s not even about making money as much as making a point. I think they want to make money as well. But it’s a very interesting thing. I’ve never seen anything like it before.
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