Billionaire Leon Cooperman on Monday said that the emergence of individual investors eagerly scooping up stocks that have been rocked amid the coronavirus-induced downturn will ultimately not end well for those individual investors.
The ‘Robinhood markets are going to end in tears,” said Cooperman during CNBC’s show “Halftime Report” on Monday, referring to the popular online trading platform.
Critics like Cooperman say that a dearth of diversions due to COVID-19 lockdowns and unemployment have created a perfect environment for newly minted day traders to wreak havoc on Wall Street.
