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Mark Cuban bet on a Wall Street firm that thrives on volatile markets (VIRT)

Mark CubanSlaven Vlasic/Getty Images

  • Billionaire Mark Cuban of “Shark Tank” informed CNBC on Tuesday that he lately invested in Virtu Financial
  • Virtu has been on a tear since volatility stormed the markets ultimate week. 

 

Billionaire investor Mark Cuban of “Shark Tank” reputation informed CNBC on Tuesday that he lately invested in high-frequency buying and selling firm Virtu Financial. 

Shares of Virtu popped 1.five% quickly after Cuban’s remarks on CNBC. 

Cuban mentioned he invested within the high-speed dealer all through ultimate week’s marketplace turmoil. 

“There was blood in the street with the VIX, and everybody got leveled shorting the VIX,” Cuban informed CNBC. “So what did I do, I bought puts on the VIX. Not huge positions, but enough to be interesting. I also bought some VIRT, Virtu, because they do HFT, high-frequency trading. And they make money off of volatility.”

Markets have observed a go back of volatility after greater than a yr within the doldrums, and that has been a blessing for Virtu.

The corporate’s inventory is up greater than 40% because the starting of ultimate week. Take a take a look at the chart:

screenshot markets.businessinsider.com 2018.02.13 13 08 50MI

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