Wolf of Wall Street author Jordan Belfort weighs in on legality of GameStop and AMC stock surge

Belfort also said that though the “average person” could stand to make a lot of money through the hot stocks, they could just as easily lose it. “It’s truly a modified pump and dump because, at the end of the day, it will most certainly go back down because it’s not trading on any rational, fundamental value,” he said.

“Just remember, every time the market goes up, GameStop goes up, it’s going to be harder and harder to make that next move up because the market cap is just not sustainable,” he continued. “So, at a certain point, someone has to be crossing out the people who are selling and moving on to the next one.”

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