GameStop Investor Michael Burry — Of ‘The Big Short’ Fame — Dubs Rally ‘Unnatural, Insane, And Dangerous’

Scion Capital founder Michael Burry on Tuesday criticized investors that have concerted to fuel a rally in the shares of game retailer GameStop Corporation (NYSE: GME). What Happened: The hedge fund manager aired his displeasure at the short squeeze on Twitter. If I put $GME on your radar, and you did well, I’m genuinely happy for you. However, what is going on now – there should be legal and regulatory repercussions. This is unnatural, insane, and dangerous. @SEC_Enforcement — Cassandra (@michaeljburry) January 27, 2021 Burry also tagged the Securities and Exchange Commission’s enforcement arm in his Twitter post. The physician-investor is known for “The Big Short,” a film in which he was played by Christian Bale. The movie is based on his bet against the US housing market. Why It Matters: Burry owned 1.7 million GameStop shares worth $17 million at the end of September, reported Business Insider. The shares would be now worth $250 million, which is a 1,400% increase, as of Tuesday’s close. GameStop shares surged over 41.5% in the after-hours session after Tesla Inc (NASDAQ: TSLA) CEO Elon Musk tweeted “Gamestonk!!” on Tuesday. Musk also included a link to the Reddit forum r/WallStreetBets that has pushed the retailer’s shares higher and put pressure on short sellers. See Also: GameStop’s Power Surge: Will WallStreetBets Or The Short Sellers Come Out On Top? As of Tuesday’s closing, GameStop shares have returned 678.84% since the beginning of the year, Price Action: GameStop shares closed 92.71% at $147.98 on Tuesday and spiked 41.58% in the after-hours session to $209.51. Photo courtesy: Oxiq via Wikimedia See more from BenzingaClick here for options trades from BenzingaCan GameStop Short Squeeze Bring Down The Market? What The Experts Are SayingWhy Nokia Stock Spiked 23% Today© 2021 Benzinga.com. Benzinga does not provide investment advice. All rights reserved.

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