Mark Cuban Just Bought 1 Million Shares of This Stock

×


By

The last stock Mark Cuban bought was J.C. Penney (JCP).

The billionaire investor and entrepreneur told CNBC's "Street Signs" on Friday that he bought 1 million shares of the retailer a "couple days ago."

He also said the rise of activist investors like Carl Icahn has become a reflection of what the stock market has become.

"It used to be the thought was when you owned a share of stock you owned a part of the company," Cuban said. "We're no longer owners."

Instead, people just trade in and out. "It's become a platform more for hacking than for company ownership," he added.

Cuban also is the lead investor in an education start-up called Ranku, which he believes will help shake up the education business given the soaring cost of tuition and the mountains of student debt.

"There's a bubble right now in tuition costs for higher education and that has to change," Cuban said.

"Parents can't afford to send their kid to traditional schools," he added, and Ranku will show the alternatives and benefits of getting an online degree. He likened the service to Kayak, the online travel site that searches hundreds of travel sites at once.

Ranku founder Kim Taylor said: "People are just going to shop for degrees based on job outcomes. We want to close the skills gap and push people to better decisions."

But the site does not include the for-profit education companies like Apollo (APOL). "People just aren't getting their money's worth," Cuban said of the for-profit education companies.

Apollo spends so much money on promotion it creates the illusion you're going to get value, Cuban said.

He also said that to get tuition costs under control, there should be a limit on student loans that are guaranteed by the federal government.

"All of a sudden you'd see the price of tuition just crater," Cuban told CNBC.

More from CNBC


Increase your money and finance knowledge from home

Managing your Portfolio

Keeping your portfolio and financial life fit!

View Course »

How much house can I afford

Home buying 101, evaluating one of your most important financial decisions.

View Course »

Add a Comment

*0 / 3000 Character Maximum

55 Comments

Filter by:
Jasmine Eva

◢◤◢◤◢◤◢◤like Stephanie explained I am amazed that people able to get paid $8229 in one month on the computer. have you read this web page ►►♥♡♥►► JOBS75.com ◄◄♥♡♥◄◄

September 09 2013 at 5:03 PM Report abuse rate up rate down Reply
Joshua Barrera

There are numerous exchanges and not every data feed provider offers information about the feed you need. For example, if you’d like a BATS data feed to integrate seamlessly on your financial news website, you sure choose to work with Barchart Market Data, as this company offers feeds for the BATS exchange, as well as other like the NASDAQ and NYSE. Customize the feed so it provides exactly what you want, not the other way around.

September 09 2013 at 10:56 AM Report abuse +1 rate up rate down Reply
highlander341

guess were going to see a mark cuban clothes line at j c penney the big problem for jc penney is simple they need to get customers into their stores itsx that simple why should i go to jc penney rather than macy,s that;s the question

September 08 2013 at 8:29 PM Report abuse +1 rate up rate down Reply
goodgrief61945

I went to Ohio State, back in 64, and their tuition for an eighteen hour/quarter, was $125

September 08 2013 at 8:02 PM Report abuse +1 rate up rate down Reply
1 reply to goodgrief61945's comment
lanceroger

I also attended OSU that summer....quite a contrast from University of the America's in Mexico City,D.F.....was in love,missed a lot of classes and must have led the the University in parking tickets that summer as I parked everywhere with no regard to parking signs. Made good grades in all 3 classes.....great summer fun!

September 10 2013 at 5:54 PM Report abuse rate up rate down Reply
speacock320

Tell you right now that was a big mistake for him to buy a million share he just lost his money if Buffet was not interested first he should of not .I know 1 person that even shops there and for one thing it`s over priced china junk....Mark my word the company will be sold in 8 years or merge with some one bigger.

September 08 2013 at 7:54 PM Report abuse rate up rate down Reply
jerald3739

Mark Cuban is right. Colleges and Universities have priced themselves out of the market.

September 08 2013 at 5:08 PM Report abuse rate up rate down Reply
the king

BFD!

September 08 2013 at 4:03 PM Report abuse rate up rate down Reply
poppy3443

hi whats up

September 08 2013 at 1:17 PM Report abuse rate up rate down Reply
arlene114

And now is he learning Chinese?

September 08 2013 at 10:44 AM Report abuse rate up rate down Reply
poll100

Just for the Cuban touch, I'll shop at Pennys.

September 08 2013 at 10:03 AM Report abuse rate up rate down Reply