kJllZx10Iy- Michael Burry Archive SeptemMichael Burry pointed to falling crypto prices and struggling meme stocks. The Scion Capital Management chief also called out weakness in SPACS, or special purpose acquisition companies, which boomed during the COVID-19 pandemic-era stock market surge but have cooled considerably over the last year.
Bed Bath & Beyond shares are down more than 51%, AMC shares have plunged nearly 70% and GameStop shares have fallen about 37% this year. Popular “meme stocks” have struggled during the broader downturn. The broad-based S&P 500 is down about 18% since January, while the Dow Jones Industrial Average has plummeted about 15% and the tech-heavy Nasdaq has fallen about 9% over the same period. Check.”īurry’s latest warning came during a period of prolonged pain for investors. “Big Short” sage Michael Burry reiterated his view Wednesday that the stock market is in the middle of a major crash.īurry, who became famous for his bet against subprime mortgages during the Great Recession, likened current market conditions to previous crashes that occurred in 20. ‘Big Short’ investor Steve Eisman bets on infrastructure over tech
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