Mark Cuban: Hold GameStop, Don’t Sell
Mark Cuban says he would keep holding GameStop. On his Reddit AMA, the billionaire Dallas Mavericks owner said that GameStop is tanking because “the source of demand has been crippled” by Robinhood and other brokerages that restricted buying of the stock.
Reddit users celebrated Cuban’s call to hold GameStop on this thread.
Cuban said he believes demand could return once Robinhood and other brokerages life their restrictions on GameStop, AMC, and other hot “meme” stocks.
r/WallStreetBets has been debating the GameStop situation all day. Some believe that the short squeeze is over, but the vast majority believe the best is yet to come.
Some users have been showing off their GameStop losses in order to reassure others that it’s okay to keep holding GameStop.
So, should you sell GameStop?
Mark Cuban thinks you should continue to hold your GameStop shares if you can afford to. He thinks buyers are being kept out of the market artificially, and once volatility subsides, the brokerages will let the buyers back in.
Cuban also believes the lower GameStop goes, the more powerful WallStreetBets becomes in taking back the stock. He believes that as the price goes lower, shorts will exit the market, relieving the pressure from brokerages to keep volatility low in order to protect “the suits”.