- The recent run-up in stocks and surge in day trading reminds Mark Cuban of the months before the dot-com crash, he said in a recent Real Vision interview published on Tuesday.
- “If you’re a day trader and you can walk and chew gum, you are making money right now,” the “Shark Tank” star and Dallas Mavericks owner said.
- Cuban said the rally is likely to end when the pandemic’s economic fallout becomes clear.
- “Once we start to really have definitive data on the other side, people are going to sell on the news, and if I had to make a bet, that’s it,” he said.
The stock market’s breathless rally and the boom in day trading reminds Mark Cuban of the dot-com bubble, the “Shark Tank” star and Dallas Mavericks owner said in a Real Vision interview filmed on June 3 and published on Tuesday.
“This certainly feels just like it,” Cuban told the financial commentator Larry McDonald.
Day trading has surged because people are stuck at home during the pandemic, there are few live sports to gamble on, and zero-commission trading is available on several platforms, Cuban said.
Citi strategists have cited the trend as a key reason their Panic/Euphoria Model recently recorded its highest reading for stock-market euphoria since 2002, when the dot-com bubble was still deflating.