GameStop Stock Drops as Michael Burry Dumps Stake on eBay Bid
BeInCrypto
Investor Michael Burry sold his entire GameStop stake following the company's unexpected $55.5 billion acquisition bid for eBay.Summary
GameStop shares fell over 10% after investor Michael Burry, famously known for "The Big Short," liquidated his entire position in the company. Burry's divestment was triggered by GameStop's controversial $55.5 billion non-binding proposal to acquire eBay at $125 per share. Burry expressed that his original investment thesis for GameStop was incompatible with the significant financial leverage required by CEO Ryan Cohen to complete the proposed eBay merger.
(Source：BeInCrypto)