[ad_1] <br><div><head><link rel="preload" as="script" href="https://sb.scorecardresearch.com/beacon.js"/><title itemprop="name">Chamath Palihapitiya closes GameStop position, but defends investors' right to sway stocks like pros</title><meta name="viewport" content="initial-scale=1.0, width=device-width"/><meta http-equiv="X-UA-Compatible" content="IE=Edge"/><meta property="AssetType" content="cnbcnewsstory"/><meta property="pageNodeId" content="106830938"/><meta itemprop="description" name="description" content="The CEO of Social Capital and former Facebook executive tweeted Tuesday that he bought $125,000 worth of February $115 GameStop call options."/><link itemprop="url" rel="canonical" href="https://www.cnbc.com/2021/01/27/chamath-palihapitiya-closes-gamestop-position-but-defends-individual-investors-right-to.html"/><link rel="icon" type="image/png" href="https://www.cnbc.com/favicon.ico"/><meta property="og:type" content="article"/><meta property="og:title" content="Chamath Palihapitiya closes GameStop position, but defends investors' right to sway stocks like pros"/><meta property="og:description" content="The CEO of Social Capital and former Facebook executive tweeted Tuesday that he bought $125,000 worth of February $115 GameStop call options."/><meta property="og:url" content="https://www.cnbc.com/2021/01/27/chamath-palihapitiya-closes-gamestop-position-but-defends-individual-investors-right-to.html"/><meta property="og:site_name" content="CNBC"/><meta http-equiv="pics-label" content="(pics-1.1 "http://www.icra.org/ratingsv02.html" l gen true for "http://www.msnbc.msn.com" r (nz 1vz 1lz 1oz 1cz 1) "http://www.rsac.org/ratingsv01.html" l gen true for "http://www.msnbc.msn.com" r (l 0n 0s 0v 0))"/><meta itemprop="dateCreated" content="2021-01-27T17:39:55+0000"/><meta itemprop="dateModified" content="2021-01-27T18:30:35+0000"/><meta itemprop="lastReviewed" content="2021-01-27T18:30:35+0000"/><meta itemprop="inLanguage" content="en-US"/><meta itemprop="sourceOrganization" content="CNBC"/><meta property="og:image" itemprop="image" content="https://image.cnbcfm.com/api/v1/image/104705919-1572281898306gro.jpg?v=1611769983"/><meta name="twitter:image:src" content="https://image.cnbcfm.com/api/v1/image/104705919-1572281898306gro.jpg?v=1611769983"/><meta name="twitter:card" content="summary_large_image"/><meta name="twitter:site" content="@CNBC"/><meta name="twitter:url" content="https://www.cnbc.com/2021/01/27/chamath-palihapitiya-closes-gamestop-position-but-defends-individual-investors-right-to.html"/><meta name="twitter:title" content="Chamath Palihapitiya closes GameStop position, but defends investors' right to sway stocks like pros"/><meta name="twitter:description" content="The CEO of Social Capital and former Facebook executive tweeted Tuesday that he bought $125,000 worth of February $115 GameStop call options."/><meta name="twitter:creator" content="Matt_Belvedere"/><meta property="article:publisher" content="https://www.facebook.com/cnbc"/><meta property="article:published_time" content="2021-01-27T17:39:55+0000"/><meta property="article:modified_time" content="2021-01-27T18:30:35+0000"/><meta itemprop="contentRating" content="NR"/><meta name="news_keywords" content="Venture capital,Technology,Richard Branson,Virgin Galactic,AMC Entertainment Holdings Inc,GameStop Corp,Facebook,Twitter Inc,Investment strategy,Markets,Wall Street,business news"/><meta itemprop="keywords" name="keywords" content="Venture capital,Technology,Richard Branson,Virgin Galactic,AMC Entertainment Holdings Inc,GameStop Corp,Facebook,Twitter Inc,Investment strategy,Markets,Wall Street,business news"/><meta itemprop="specialty" content="Venture capital,Technology,Richard Branson,Virgin Galactic,AMC Entertainment Holdings Inc,GameStop Corp,Facebook,Twitter Inc,Investment strategy,Markets,Wall Street"/><meta name="tp:PreferredRuntimes" content="universal"/><meta name="tp:PreferredFormats" content="M3U,MPEG4"/><meta name="tp:initialize" content="false"/><meta name="apple-itunes-app" content="app-id=398018310" app-argument="//www.cnbc.com/id/104671274"/><meta property="al:ios:app_name" content="CNBC Business News and Finance"/><meta property="al:ios:app_store_id" content="398018310"/><meta itemprop="primaryImageOfPage" content="https://image.cnbcfm.com/api/v1/image/104705919-1572281898306gro.jpg?v=1611769983"/><meta name="parsely-metadata" content="{"nodeid":106830938,"originalImage":"https://image.cnbcfm.com/api/v1/image/104705919-1572281898306gro.jpg?v=1611769983"}"/><meta name="robots" content="max-image-preview:large"/><meta property="article:section" content="Investing"/><link rel="amphtml" href="https://www.cnbc.com/amp/2021/01/27/chamath-palihapitiya-closes-gamestop-position-but-defends-individual-investors-right-to.html"/><meta property="article:author" content="https://www.facebook.com/CNBC"/><meta name="author" content="Matthew J. 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GameStop stock opened Wednesday at $354 per share, up more than 1,550% this year alone."]},{"tagName":"service-embed","attributes":{"src":"https:u002Fu002Ftwitter.comu002Fchamathu002Fstatusu002F1354089928313823232","type":"twitter"}},{"tagName":"p","children":["On CNBC's ",{"tagName":"a","attributes":{"id":"103226639","href":"https:u002Fu002Fwww.cnbc.comu002F103226639u002F","type":"franchise","brand":"cnbc","section":{},"premium":false,"contentClassification":[]},"children":[""Fast Money: Halftime Report""]}," on Wednesday, Palihapitiya said, "I ended up closing out my position this morning, and I wanted to announce that I'm taking all the profits that I made plus my original position — I'm going to take $500,000 and I'm going to donate it.""]},{"tagName":"p","children":["Palihapitiya, a venture capitalist, dismissed Wall Street criticism about how individual investors are banding together on social media — particularly the wallstreetbets Reddit message board, and short-squeezing GameStop and a handful of other stocks like pros — as hypocritical. 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