- Mark Cuban said members of Wall Street are disrupting Wall Street’s old guard.
- The billionaire “Shark Tank” star said they are taking lessons from crypto trading.
- “They want to change the game and kill their asses. Which they should have in every possession.”
- For more stories visit Business Insider’s homepage.
Day traders are shaking up the status quo by implementing digital property regulations in the stock market, said billionaire investor Mark Cuban blog post on Sunday.
The “Shark Tank” star and the Dallas Mavericks reminded that as a child, he once attended a stamp show where he bought a ticket from a dealer and then sold it to another dealer in the same room at 50 times the price Had given. The experience opened his eyes to the fact that traditions and inefficiencies exist in every market.
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In addition, small investors have learned from trading bitcoin and other cryptocurrencies that they can collectively raise the prices of digital assets and create wealth for all involved, he continued.
Cube said, “WSB merchants are applying the same principle of the digital / crypto world to the stock market and they are loving the fact that old schoolers are hating it.” “Older school students think they are smarter. They are not.”
“This generation doesn’t care what Old School Wall Street thinks, or says about evaluation,” Cuba said. “They have learned from their experiences going up and down Wall Street and the people who are not paying them a ton of money is that it is a game designed to reward those with the most money.”
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“All these narratives are just sales pitches designed to sell stocks,” he continued. “They want to change the game and kill their asses. Which they should have in every possession.”
Cubai said the merchant collective “can target anyone, for any reason, at any time, any share, any share, and change the game.”
He said it was similar to moving stock based on the recommendation of a prominent Wall Street analyst, but the Reddit version “has a lot of power and influence.”