’Big Short’ Investor Michael Burry Bets on GameStop, Sparks Meme Stock Rally
Michael Burry, the investor famed for predicting the 2008 financial crisis, has thrown his weight behind GameStop (GME), triggering a 4% surge in the meme stock's shares. Burry revealed his stake in a Substack newsletter, citing CEO Ryan Cohen's strategy to raise cash for a potential acquisition. "I own GME. I have been buying recently," Burry wrote, according to CNBC.
GameStop's shares have climbed roughly 20% in 2026, though they remain far below their 2021 meme-stock frenzy peaks. Burry's endorsement lends credibility to Cohen's efforts to pivot the struggling retailer, which has shuttered stores amid declining sales. The investor acknowledged GameStop's challenges but framed Cohen's moves as pragmatic: "He has a crappy business, and he is milking it best he can while taking advantage of the memes."
