Mark Cuban, chairman and chief executive officer of Axs TV, speaks during the Skybridge Alternatives (SALT) conference in Las Vegas, Nevada, U.S., on Thursday, May 9, 2019. SALT brings together investors, policy experts, politicians and business leaders to network and share ideas to unlock growth opportunities in finance, economics, entrepreneurship, public policy, technology and philanthropy.
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Billionaire entrepreneur Mark Cuban joined CNBC’s “Closing Bell” on Wednesday.
Last month, Cuban said he had been “dipping my toes” into the stock market on down days as he looked to capitalize on coronavirus-driven declines.
He said then he was mostly buying the SPDR S&P 500 ETF Trust, the exchange-traded fund that tracks the S&P 500 index.
Cuban’s comments in mid-March came a few days before the S&P 500 hit its current, coronavirus-driven bottom on March 23. The index was up more than 20% from those lows as of Tuesday’s close.
Cuban, owner of the NBA’s Dallas Mavericks, has been outspoken in recent weeks as the coronavirus pandemic intensified.
Cuban has warned businesses against sending employees back into the office too soon and put pressure on Washington lawmakers to support workers who are impacted by the economic shock. He’s also said any company that receives government aid to weather the pandemic should be prevented from buying back stock.
Disclosure: CNBC owns the exclusive off-network cable rights to “Shark Tank,” on which Mark Cuban is a co-host.