economy
January 26, 2026
GameStop shares move higher after Michael Burry says he's been buying the stock
Burry said his investment is a long-term value play rather than a wager on renewed meme stock speculation.
TL;DR
- Michael Burry has been buying shares of GameStop.
- He expects to buy at approximately 1x tangible book value/net asset value.
- Burry considers his investment a long-term value play, not based on renewed meme stock speculation or a short squeeze.
- He expresses confidence in CEO Ryan Cohen's strategy, governance, and capital deployment.
- GameStop has raised significant capital through equity offerings, leaving it with a substantial cash reserve.
- Burry acknowledges Cohen's efforts in managing the business and seeking opportunities for strategic acquisitions.
- GameStop has also invested in Bitcoin, a move Burry is observing without strong opinion.
- CEO Ryan Cohen recently purchased 1 million shares of GameStop himself.
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