Mark Cuban stated Wednesday he’s been “dipping my toes” into the market place in the course of its the latest extend of coronavirus-driven volatility.
“I have been putting in 1% [to] 1.5% to do the job on just about every down day,” Cuban said on CNBC’s “Squawk Box.”
The billionaire entrepreneur mentioned he’s mainly been acquiring the SPDR S&P 500 ETF Rely on, the trade-traded fund that tracks the S&P 500 index.
He reported he’s also buying shares of Live Nation, and that he’s sold some of his place and contact options because “the rates are just unbelievable. It can be breathtaking the premiums that are in spot suitable now.”
Cuban reported he thought the current market had settled into a trading selection of up 5% a person day to down 5% the subsequent. “I’m not really absolutely sure why,” he extra.
“It felt like for a while we experienced active administration carrying out all the get the job done and striving to determine things out and now more than the past three times it feels like we are starting up to get extra algorithmic buying and selling coming into the current market,” Cuban reported.
“I’ll act appropriately,” he included.
The “Shark Tank” investor’s opinions arrive as U.S. stock futures ended up pointing to a sizeable loss at Wednesday’s open up on Wall Road, one particular day soon after the Dow Jones Industrial Ordinary rebounded extra than 1,000 factors.
Previous Thursday, Cuban advised CNBC he added to his stake in Twitter. “I am a long-term holder there. I owned shares likely into this drop. I will not know what is actually going to materialize or when, but I feel very long-phrase we’ll be okay.”
He also said then that he bought shares in Live Nation before past 7 days.