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Barstool Sports founder switches from gambling to day trading during Coronavirus — and he's down $647,000
Barstool Sports founder Dave Portnoy is down about $647,000 after becoming a day trader to substitute for the lack of sports gambling amid the coronavirus pandemic.
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- Portnoy deposited $3 million into an E-Trade account and live-streams his daily trading activities on his Twitter page.
- Portnoy's net worth ballooned in January when Barstool announced it was selling a majority stake to Penn National Gaming in a deal that valued the company at about $450 million.
- Portnoy told Business Insider that his day trading experience could be viewed as a "cautionary tale."
- He added that aspiring day traders should avoid investing money that they can't afford to lose.
- Visit Business Insider's homepage for more stories .
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