Stock markets opened to another unpredictable day of trading Wednesday, with Netflix, Google and Amazon leading a rally in shares of major technology stocks. But while some saw the rebound as an opportunity, celebrity investor Mark Cuban said the uptick "made no sense."
"I would really like to buy the market here," Cuban wrote via Cyber Dust, an ephemeral mobile messaging app similar to Snapchat. "But what scares me is that the stocks that are up pre-market are the momentum stocks. It makes no sense because the momentum players should have gotten crushed on the way down."
Netflix, Google and Amazon shares were all up 4.25 percent or better at the market open, with the S&P 500 technology sector up 3 percent as a whole, after getting battered in a global market selloff over the past few days. That should be a good thing for Cuban, who owns "a ton" of Facebook and Netflix—but the dot-com era billionaire and "Shark Tank" star said he's not so sure what's really behind the rally.