NBA legend, multimillionaire and penny stock investor?

With an estimated net worth of $250 million, Shaquille O'Neal was asked Thursday on CNBC's "Closing Bell" if and why he is still investing in penny stocks.

"You wanna know why ... I'll tell you why," O'Neal said happily, while calling over stock broker (and the New York Stock Exchange's most photographed person), Peter Tuchman.

The 7-foot-1-inch ex-basketball player placed his arm around the tiny trader and responded: "Peter is smart. So when I'm at home and I got my suit on, I wanna feel like Peter when I'm messing with my penny stocks."

Read More Why Charles Barkley says he'll never join Twitter



O'Neal said he trades these small stocks "because it's fun," admitting that "it hasn't really been going too well."

"The big stocks I let my guy handle," he said.

That's when things got emotional.

"I wanna be like you Peter!" Shaq exclaimed, before planting a few kisses on the top of Tuchman's head.

Tuchman was asked whether he approved of Shaq's stock strategy. His response? "Absolutely!" The two "traders" then shared an emphatic high five.