Every one of the 3 biggest American stock exchanges just had their best quarterly performance in more than two decades. So, why does the Wall Street establishment have their proverbial panties in a bunch over a rookie day trader that never bought or sold stocks until pandemic started?
Let's just say he is proving out a model for the future and that should make a lot of people on Wall Street nervous...
The rookie day trader of reference would be Dave Portnoy, better known as the founder of the media company Barstool Sports. The same Barstool Sports that was sold to Penn National Gaming for $450 million right before COVID-19 started making a huge impact in the United States, but that amount of wealth has nothing to do with why the Wall Street establishment hates him.
If you aren’t familiar with this story, a few questions are likely popping up in your mind;
