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Billionaire investor and hedge fund manager Leon Cooperman has said he thinks the short-sellers attacking GameStop will have “turned out to be right” and that the saga will “end very badly for the public.”
He also expressed anger about anti-elite sentiment, saying on CNBC on Thursday that the idea that rich people do not pay their fair share is a “bullshit concept” that is “just a way of attacking the wealthy.”
Amateur investors have piled into US video-game store GameStop’s shares, causing them to skyrocket more than 1,700% between the start of the year and Wednesday. Other previously unloved stocks such as cinema chain AMC and Bed Bath & Beyond have also surged.
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