Fox Business’ Charlie Gasparino and Charles Payne got into a heated argument Friday over the GameStop market upheaval.
Gasparino and Payne joined Fox News host Neil Cavuto to discuss the continued fallout and quickly began shouting over each other. (RELATED: ‘It’s Making Me Sick!’: Charles Payne Goes Off At Wall Street ‘Whining’ Over GameStop Stock Surge)
Payne argued that the hedge funds were not the disadvantaged party, saying that hedge fund managers “go short” all the time. “They put together 50-page reports, they get to go on TV. They have their own networks, their own very powerful networks, they don’t need to go on a chatroom and gather a million people with 400 bucks … The idea that the hedge funds are being disadvantaged here is a farce,” he said.
“Wait a second. Look at the short thesis on BlackBerry, okay, the analysis on Blackberry,” Gasparino replied. “And the long thesis on BlackBerry. And then look at the price of BlackBerry. That’s insane!”
“Let me tell you one thing!” Payne interrupted as Gasparino pivoted to bring up GameStop, saying, “The long thesis makes no sense!”
“So what?! Who cares about your thesis?! Who cares about your thesis?! Who are you?! Who are you?!” Payne shouted as Gasparino continued talking.
Payne looked to Cavuto for help, saying, “Neil, I didn’t want to do this with anybody else that would not let me speak, okay?”
Payne went on to argue that the issue was opportunity — and that stopping the smaller investors from trading was an unfair manipulation of the market.
“I’m not judging qualifications. I’m judging opportunity. I’m saying who the hell is anybody out there to say, oh, you should stop being able to own …” Payne said.
“Nobody’s saying that!” Gasparino replied, saying that it was “absurd” to suggest that it was a class warfare issue.
The two went back to shouting over each other until Payne gave up. “Neil, I’m out!” he said. “Please cut me off. I don’t want to finish this. This guy keeps interrupting! What kind of nonsense is this?”