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Billionaire investor Leon Cooperman warned that the speculative stock trading from retail investors won’t end well.
“They are just doing stupid things, and in my opinion, this will end in tears,” Cooperman said on Monday on CNBC’s “Halftime Report,” referring to a flood of new retail investors into brokers especially the millennial-favored Robinhood.
“The notion that American Airlines has an enterprise value today higher than pre-Covid because of the debt they’ve issued … doesn’t make any sense,” Cooperman added.
