CNBC Pro

Leon Cooperman says speculation by Robinhood traders in stocks like airlines will 'end in tears'

Share

Billionaire investor Leon Cooperman warned that the speculative stock trading from retail investors won't end well.

"They are just doing stupid things, and in my opinion, this will end in tears," Cooperman said on Monday on CNBC's "Halftime Report," referring to a flood of new retail investors into brokers especially the millennial-favored Robinhood.

"The notion that American Airlines has an enterprise value today higher than pre-Covid because of the debt they've issued ...  doesn't make any sense," Cooperman added.

More In PRO Uncut

VIDEO44:40
CNBC ProMad Money with Jim Cramer — June 11, 2021
watch now
VIDEO07:09
CNBC ProUnited Wholesale Mortgage CEO on the state of real estate and rate changes
watch now
VIDEO10:51
CNBC ProCharts suggest Bitcoin might take another month to bottom, Cramer says