On January 27, Michael Burry, a prominent U.S. investor known for his bearish market predictions, announced his investment in GameStop (GME). According to BlockBeats, Burry revealed that he has been purchasing GameStop shares recently and anticipates that the price he paid will soon align with the company's tangible book value and net asset value. He expressed his willingness to hold the stock long-term, without relying on a short squeeze to realize its value.
Following this announcement, GameStop's stock experienced a significant intraday increase of 8.8% on Monday, closing at $24.01, marking a 4.44% rise.