While President Donald Trump is talking about pent-up energy in the stock market riding out the coronavirus pandemic – ready to spring back to its previous high level of functionality – billionaire Mark Cuban sees a much slower return to the "new abnormal."
"I wish he was right, but he's not," Cuban told "Fox News Sunday." "I think it's going to be slower. I think there's going to be so many different ways we'll have to adapt to this new abnormal.
"People aren't going to just venture outside; they're not going to go to large gatherings; they're not going to feel confident right off the bat. There's going to be a lot of trepidation and that concern is going to lead to people holding back in spending money. We're not going to know if the virus is coming back.
"And, on top of that, when it comes to hiring people back, companies aren't going to just immediately bring everybody back."
Cuban was also pessimistic before Trump's election, saying the stock market fears the unknown and would sink upon Trump being elected. Cuban was woefully wrong, and Trump had been vindicated.
But, recently, the coronavirus shaved a third of U.S. value in a couple of months.
Cuban, similarly a reality TV personality for CNBC's "Shark Tank," has been frequently mentioned as a future presidential candidate, particularly with him appearing on TV networks to question Trump's moves. He skipped the 2020 cycle, but 2024 is not out of the question, perhaps.
"I'm not saying 'no,' but it's not something that I'm actively considering," Cuban told host Chris Wallace.
"I'll just keep the door open."
Eric Mack ✉
Eric Mack has been a writer and editor at Newsmax since 2016. He is a 1998 Syracuse University journalism graduate and a New York Press Association award-winning writer.
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