Pershing Plaza CEO Bill Ackman said on Tuesday that the leverage within the system is high, speculative trading is intensifying, and stock prices have fluctuated sharply. He is worried that the stock market has failed. “Every few days, I feel like the market has gone haywire.” Ackman said, “The transaction prices of many stocks are illogical in my opinion. Of course, if you're a long-term investor, it's good to be able to buy at such a ridiculously low price. But from the perspective of the whole country, this is definitely not a good thing.” “The market returned to a casino-style market, and the leverage level was as high as 95% at one point.” He added, “This environment itself is not good for the economy, bad for society, and has spawned huge swings in stock prices.” The founder of Pershing Plaza Capital said that it was precisely this kind of market pricing mismatch, which gave the fund an opportunity to pick up omissions.

Disclaimer:Webull uses external vendor Google Translation Service for news translations where we endeavour to ensure these are correct, however, we recommend that you please double-check this information accordingly. Webull is not responsible for translation errors or issues.