By Jesse Cohen
Investing.com – Barstool Sports founder Dave Portnoy has become the poster child of the day-trading craze that has helped push stocks to record highs in recent weeks, much to the chagrin of Wall Street’s veteran investors.
Portnoy, who live-streams his experience under the moniker Davey Day Trader Global (DDTG) to his 1.5 million Twitter followers, shifted his focus to day-trading when the coronavirus pandemic brought sporting events to a halt earlier this year.
The sports-bettor-turned-investor has drawn the ire of institutional investors thanks to his and loud statements about how easy investing is and that stocks only go up.
Portnoy also has a willing army of compatriots diving into stocks – .
The trading platform added three million new accounts in the first four months of this year. Half of their new customers said they were first-time investors.
Billionaire Leon Cooperman recently warned that the rise in Robinhood trading will “end in tears” as according to him many of these day-traders are unaware of the risks.
But Portnoy, who has already poked fun at the likes of veteran investors such as Warren Buffett and Howard Marks, dismissed those comments.
To see more of Investing.com’s weekly comics, visit: http://www.investing.com/analysis/comics
Fusion Media or anyone involved with Fusion Media will not accept any liability for loss or damage as a result of reliance on the information including data, quotes, charts and buy/sell signals contained within this website. Please be fully informed regarding the risks and costs associated with trading the financial markets, it is one of the riskiest investment forms possible.
!function(f,b,e,v,n,t,s)
{if(f.fbq)return;n=f.fbq=function()
{n.callMethod? n.callMethod.apply(n,arguments):n.queue.push(arguments)};
if(!f._fbq)f._fbq=n;n.push=n;n.loaded=!0;n.version=’2.0′;
n.queue=[];t=b.createElement(e);t.async=!0;
t.src=v;s=b.getElementsByTagName(e)[0];
s.parentNode.insertBefore(t,s)}(window, document,’script’,
‘https://connect.facebook.net/en_US/fbevents.js’);
fbq(‘init’, ‘751110881643258’);
fbq(‘track’, ‘PageView’);
by : Investing.com
Source link
