Michael Burry is a legendary investor most famous for his role in “the big short” where he bet against the US housing bubble & predicted the financial crisis. However, Michael Burry is not just an “old school” investor he was one of the Major hedge Funds which started the GAMESTOP STOCK SAGA!
According to Cheaperthanguru.com (Invest with legends)
Burry Purchased 1.7 million shares at just $5.73 per share (Q3 2019) before selling out at approximately $20 per share (Price at Q4 2020), a +400% GAIN!
Did Michael Burry sell out too early?
If Burry held onto his 1.7 million shares just a few months longer he would have made an extra 3252% or an extra 6000% if he managed to sell at the top of the run up in share price.
In 2021, Reddit traders (wall street bets), youtubers & even hedge funds saw the opportunity for a SHORT SQUEEZE.
If Burry held onto his stocks this would be an extra $1 Billion! However, over 400% gains is not too shabby & I don’t think anyone would complain about that!
As the old wall street saying goes, “nobody ever went broke taking a profit”.
After which Gamestop stock crashed down by 41% and left many reddit retailer investors & traders holding the bag!
Unfortunately, retail broker platforms such as Robinhood then suspended TRADING of MEME Stocks which caused major controversy & uproar!
This even resulted in a Financial Youtuber named “roaring kitty” having to testify in congress after being one of the leading figures in starting the momentum driven movement. In addition, to making millions of dollars in the process through the buying of call options enhanced returns in the stock.
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