Robinhood App – “I’ve dumped my entire $250,000 401K into The United States Oil ETF (“USO”),” Jeffrey Smith a Robinhood app user stated. “USO is doing an 8-1 reverse stock split soon. This effectively means I am going to octuple my original investment.”
Jeffery Smith, 43, is not alone in this idiotic thinking. Thousands of other retail investors have stated the same thing.
Cindy Huff of Memphis, TN, said the following “My husband and I mortgaged our paid off house and dumped it all into USO. When we octuple our money we are going to go on so many cruises and even buy a new minivan.”
James Cameron of Baton Rouge Louisiana told reporters how he stopped paying his apartment rent and instead has been pouring all of his money into USO because it’s a “safe” blue chip investment. “USO is about as safe as you can get. Not only are you going to octuple your money in a few weeks, but the ETF is backed the by full faith of the United States Government – hence the name ‘United States Oil EFT’.”
The investment community on FinTwit called, “EFT” has taken the higher road calling these retail investors and I quote, “complete brain-dead loser idiots”. We spoke with one of the more followed EFT accounts on Twitter and they told us they had to quit Twitter indefinitely because they could not stand the stupidity of these Robinhood retards.
However, Jeffrey Smith isn’t convinced of EFT’s warning. “Those guys on Twitter who just bash the energy industry are just mad because their prime broker won’t let them invest in something like USO – which by the way is backed by the United States Government. Because they can’t partake in this incredible opportunity, they take to Twitter and just call everyone wrong. We will see who is wrong when I octuple my money and walk away to the bank next week.”