Michael Burry's GameStop Buying Spree Sparks Market Buzz
Renowned investor Michael Burry recently revealed on social media that he has been steadily acquiring GameStop (GME) shares, emphasizing his focus on the company's intrinsic value.
Burry noted that his purchase price is approaching one times the company's tangible book value and net asset value, highlighting his disciplined valuation approach. He clarified that his investment is not aimed at fueling a short squeeze, but rather a long-term value play.
- GameStop's stock surged 8.8% following the announcement
- It closed at $24.01, up 4.44%
- Investor sentiment is shifting
This move has reignited market interest in GameStop, prompting renewed discussions on its valuation and future outlook.