Billionaire Mark Cuban Tells Reddit Traders to “Hold” GameStop “If You Can Afford To”
Business ı By Marivic Cabural Summers
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"I think now that they've recognized their power and now that they’ve learned some lessons, we’re going to get more of it, not less of it," said Cuban.
Robinhood, SEC should have warned traders about trading limits
The billionaire tech entrepreneur also stated that Robinhood and the Securities and Exchange Commission (SEC) should have warned traders last week about trading limits.
He argued that the trading restrictions on GameStop contributed to the decline of its stock price. “When you shut them down ... you took out a lot of natural buyers. When sellers come in, if there aren’t buyers, sellers keep on lowering their price until they find buyers and the stock goes down,” said Cuban.
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