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@Kokorache 4 weeks ago

Michael Burry is buying GME again

Michael Burry is buying GME again

Michael Burry disclosed he is buying GameStop again. He cites faith in Ryan Cohen and the stock trading near tangible book value. Cohen also bought another 1 million shares recently, and the stock moved up 12% on the news. The actual earnings were mixed. Q3 net sales fell 4.6% to $821M, missing the $987M estimate. Hardware sales dropped 12% and software fell 27%. Collectibles were the main growth driver, up 50% to $256M, which helped the company post $41.3M in operating income. They also hold some Bitcoin that is currently sitting at an unrealized loss.
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@AntonioMyers 4 weeks ago

seeing ryan cohen buy even more shares shows he’s really committed to the long term. gamestop definitely has a lot of work ahead though.