Leon Cooperman optimistic stock market bottomed on coronavirus fears

Leon Cooperman

Olivia Michael | CNBC

Billionaire investor Leon Cooperman told CNBC on Friday that he’s optimistic that the stock current market has bottomed on coronavirus fears.

“If I’m appropriate on the virus phone, if I’m suitable and that’s the big if … I imagine the sector at the modern small of 2,187 [on S&P 500] was shut more than enough to the bottom to be referred to as the base,” Cooperman claimed on “Squawk Box.”

He reported he sees a vary this yr for the S&P 500 in between 2,200 and 2,800.

Cooperman, chairman and CEO of Omega Family Business, stated earlier this month that investors who are attempting to manage the inventory market’s coronavirus-pushed volatility essential to be individual. 

Do not invest in on margin, “just know what you very own and be individual,” Cooperman explained to CNBC on March 1. 

Cooperman’s opinions on Friday came as Dow futures were pointing to an opening loss of all around 700 points. 

The market was using a a few-session winning streak that’s noticed each the Dow Jones Industrial Average and S&P 500 rise additional than 20%.

This is breaking news. You should check back again for updates. 

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