<p><strong><img src="https://static3.businessinsider.com/image/6017e519d6c5e60019c6e2d1-1438/Burry4.png" border="0" alt="Michael Burry" data-mce-source="YouTube/CBS" data-link="https://www.youtube.com/watch'v=6W5zF8Xqro0"></strong></p><bi-shortcode id="summary-shortcode" data-type="summary-shortcode" class="mceNonEditable" contenteditable="false">Summary List Placement</bi-shortcode><ul><li><strong>Michael Burry compared the GameStop squeeze to "The Big Short" as a unique opportunity.</strong></li><li><strong>The investor highlighted the stock's huge short interest, small market cap, and how unloved it was.</strong></li><li><strong>Burry said that if he had made life-changing money on GameStop, he would cash out.</strong></li><li><strong><strong><a href="https://www.businessinsider.com/">Visit Business Insider's homepage for more stories</a>.</strong></strong><hr></li></ul><p>Michael Burry compared the <a href="https://markets.businessinsider.com/stocks/gme-stock">GameStop</a> saga to "The Big Short" and suggested big winners should cash out in tweets on Friday and Saturday that have now been deleted.</p><p>"There really can't be another GME," the investor said. "Nothing else is/was even close to as shorted (100+% of float), so small (microcap), and so hated/ignored/dismissed prior to the #thebigshortsqueeze."</p><p>"It was a uniquely perfect setup," the Scion Asset Management boss continued. "There won't be another like it. Much like #thebigshort."</p><p><em><strong>Read more:</strong> <a href="https://www.businessinsider.com/stock-market-crash-wallstreetbets-reddit-catalysts-stagflation-inequality-rates-bofa-2021-1">Bank of America warns of 3 looming catalysts that could send the bull market crashing in 2021and shares how to position for the 'big change' as the WallStreetBets crowd fights against the system</a></em></p><p>Burry is best known for his billion-dollar bet on a US housing-market crash in the mid-2000s, which was chronicled in Michael Lewis' book "The Big Short."</p><p>The investor laid the groundwork for GameStop's astronomical rally this month when he disclosed a <a href="https://markets.businessinsider.com/news/stocks/gamestop-earnings-2q-stock-price-plunging-hit-michael-burry-bet-2019-9-1028516635">3% stake</a> in the video-game retailer in August 2019, and began pushing for changes at the company.</p><p>Chewy cofounder Ryan Cohen followed his lead by taking a <a href="https://markets.businessinsider.com/news/stocks/activist-investor-chewy-cofounder-ryan-cohen-gamestop-stock-percent-gain-2021-1-1029980159">13% stake</a> in the retailer last year, and parlaying it into three board seats earlier this month.</p><p>Hordes of amateur investors, buoyed by Burry and Cohen's votes of confidence, have <a href="https://markets.businessinsider.com/news/stocks/reddit-day-traders-wallstreetbets-gamestop-gme-rally-upending-stock-market-2021-1-1030009280">seized the chance</a> to squeeze short-sellers and make fast money by driving GameStop's stock price up as much as 2,500% this month.</p><p><em><strong>Read more:</strong> <a href="https://www.businessinsider.com/reddit-traders-gamestop-gamma-short-squeeze-wsb-trading-strategy-explained-2021-1">A veteran options trader breaks down the intricate strategy that Reddit traders used to outsmart Wall Street's bet against GameStopand shares 2 ways the parabolic rally could permanently alter the stock market</a></em></p><p>Burry <a href="https://www.nytimes.com/2021/01/29/technology/roaring-kitty-reddit-gamestop-markets.html">highlighted the story</a> of Keith Gill, the casual investor who goes by "Roaring Kitty" on YouTube and u/DeepFuckingValue on Reddit, in another tweet.</p><p>Gill <a href="https://markets.businessinsider.com/news/stocks/gamestop-investor-deepfuckingvalue-roaring-kitty-reddit-stocks-wall-street-2021-1-1030022004">plowed $54,000 into GameStop call options</a> in June 2019 after determining the retailer's stock was undervalued. He boasted $32 million in GameStop calls and shares and $14 million in cash as of Saturday, according to an <a href="https://www.reddit.com/r/wallstreetbets/comments/l846a1/gme_yolo_monthend_update_jan_2021/">unverified screenshot</a> he posted on Reddit.</p><p>"Hey, $GME is now a $stonk and may go >$1000, but if I made a life-altering amount in this stock, I'd punch out," Burry tweeted.</p><p><em><strong>Read more:</strong> <a href="https://www.businessinsider.com/gamestop-stock-experts-predict-next-move-reddit-traders-take-profits-2021-1">GameStop has surged more than 600% in the past week. 3 experts break down where the stock could go from here as Reddit's army of traders take profits and search for their next targets.</a></em></p><p>"Main Street has Wall Street by the cojones. Great story/LOVE it. Tee it: bulls make money, bears make money, #pigsgetslaughtered," he added.</p><p><a href="https://markets.businessinsider.com/news/stocks/michael-burry-compares-gamestop-big-short-suggests-cashing-out-2021-2-1030026956#comments">Join the conversation about this story »</a></p> <p>NOW WATCH: <a href="https://www.businessinsider.com/warren-buffett-modest-home-bought-31500-looks-2017-6">Warren Buffett lives in a modest house that's worth .001% of his total wealth</a></p>
Click here to read full news..
