It appears someone missed the memo that Dave Chappelle was only joking when he described the dire need to get Ja Rule’s input on breaking news stories because CNBC enlisted the help of the Fyre Festival co-founder to try and help make sense of the past week’s Wall Street zaniness. To be fair, he inserted himself into the story with his tweet at the Robinhood app’s account, and regular folks’ affinity for watching train wrecks did the rest of the work, but it must be said, he acquitted himself well in the temporary market analyst role.
The Recount‘s hosts did their part, setting him up with a softball question that allowed him to make some astute, empathetic observations about Robinhood’s founder being caught semi-unawares by the sudden run on the app. When he was asked, “What would you tell Robinhood to do here?” Ja’s response was straightforward and simple: “You gotta let people trade, man.”
He also did his best to theorize why Robinhood stopped trades on the shorted stocks and generously allowed that it was more bad optics than any malicious intent on the app’s leadership’s part. “I don’t think the CEO had the money to cover the actual money that was going through the platform,” Ja posited. “It just looks like it’s playing into the hands of the big hedge fund guys.”
Certainly, that’s one explanation that kinda works. It’s no Papa Christo’s commercial or festival fiasco, but perhaps Ja can build on this moment to rebuild his image as an astute investor. It might make the internet less interested in him overall (be honest, you clicked so you could make fun of him a little and make some Fyre Fest jokes, but I beat you to it), but none of us should be judged by our worst moments, right?
Check out Ja Rule’s appearance on CNBC’s The Recount below.
.@JaRule is asked to give Robinhood trading app advice based on his experience with Fyre Festival, which showed "people who were all for something can turn against it" when things go wrong.
He says: “You gotta let people trade, man.” pic.twitter.com/5qVzJnWGZr
— The Recount (@therecount) February 1, 2021