Noted short seller and investor Michael Burry has disclosed that he has been buying GameStop (GME) shares today. Following the news, the stock surged over 7%. Power to the Players!
Some readers may recognize Burry’s name from the book *The Big Short*, which was also adapted into a motion picture highlighting his role in the 2008 financial crisis.
Today’s update came via a second Substack post regarding GameStop. In it, Burry stated, “I own GME. I have been buying recently. I expect I am buying at what may soon be 1x tangible book value / 1x net asset value.” He further clarified, “I am not counting on a short squeeze to realize long-term value.”
Burry’s news about his GameStop stake follows the company’s CEO, Ryan Cohen, purchasing 1 million shares just last week. Burry expressed confidence in Cohen, writing, “I believe in Ryan, I like the setup, the governance, the strategy as I see it.”
**Disclaimer:** This article is for educational purposes only and should not be considered investment advice. Please evaluate your own investment time horizon and risk tolerance, and consult with a financial advisor before making any investment decisions.
**Full Disclosure:** At the time of this article, Shacknews’ primary shareholder Asif A. Khan, his family members, or his company Virtue LLC hold a long position in GameStop shares (GME).
https://www.shacknews.com/article/147570/gamestop-gme-michael-burry-buys-shares
