Traders work at the post where GameStop is traded on the floor at the New York Stock Exchange on June 12, 2024.
Brendan McDermid | Reuters
Michael Burry, the investor made famous by his bet against the U.S. housing market ahead of the financial crisis, disclosed that he has been buying shares of one-time meme darling GameStop.
“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,” Burry said in a Substack post published Monday. “And getting a young Ryan Cohen investing and deploying the company’s capital and cash flows. Perhaps for the next 50 years.”
This is breaking news. Please refresh for updates.
