More like someone who thought he could use innocents as useful idiots to make a kick killing for himself and got caught. BOO HOO.
Well that's possible too. But I don't think so. Perhaps a bit cynical to intentionally jump into a rally to book a loss to garner more followers of your website. I don't know the entire backstory but the phrase "recent weeks" is a little too vague. I don't know when he actually started to promote Robinhood or when he got into these stocks. He may have just thrown the money in as a show of support for his user base, which I am fairly certain are the same type of people who follow the WallStreetBets crowd. Not all of them actually put money into the game but are just sympathetic. These days, $700,000 is a pretty fair price to buy the loyalty of millions of followers and invitations to appear as a guest on TV shows.
I am curious if he actually promoted the idea of investing in these stocks. That would tell us a lot. I think his $700k loss suggests he got in late, and I don't think he is that kind of mark. Something else is at play.