'Big Short' investor Michael Burry blasts Reddit-fueled GameStop rally as 'unnatural, insane, and dangerous'
Michael Burrycriticized retail investors for working together to drive up GameStop's stock price.
- The "Big Short" investor described the behavior as "dangerous" and called for legal and regulatory action in a quickly deleted tweet.
Scion Asset Managementmay have made a 1,400% gain on GameStop in under four months.
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Michael Burry slammed day traders who have worked in concert to boost GameStop's stock price and squeeze short-sellers in recent days, and called on federal regulators to investigate them."If I put $GME on your radar, and you did well, I'm genuinely happy for you," the Scion Asset Management boss tweeted on Tuesday.
Scion owned 1.7 million GameStop shares at the end of September. Assuming Burry hasn't altered the size of the holding, it has ballooned in value from about $17 million to $250 million as of Tuesday's close - an almost 1,400% gain in under four months.Read More: An engineer-turned global macro investor breaks down why bitcoin is so volatile - and shares 3 reasons why she remains bullish about the digital asset Retail investors, including members of the
GameStop shares jumped another 45% in after-hours trading after Tesla CEO Elon Musk tweeted the word "Gamestonk!!" along with a link to the WallStreetBets subreddit.
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