Trending Now - Michael Burry Sells Off Entire Gamestop Stake Amid Changes
WHO:
Bloomberg Markets - Michael Burry, investor
Business Insider - Ryan Cohen, CEO of GameStop
WHAT:
Bloomberg Markets - Michael Burry sold his entire position in GameStop Corp.
Business Insider - GameStop made an offer to acquire eBay for about $56 billion in cash and stock.
Business Insider - GameStop's offer for eBay was at $125 per share.
Business Insider - Burry stated, "I may not last the week with my GameStop position fully intact."
Business Insider - Burry indicated that the $56 billion is likely just the opening bid for the acquisition.
WHERE:
Business Insider - GameStop is based in the United States.
WHEN:
Business Insider - Burry revealed his position in GameStop in January.
Business Insider - GameStop officially announced the eBay acquisition offer late last week.
WHY:
Bloomberg Markets - Burry sold his GameStop shares due to concerns over the company's acquisition strategy.
Business Insider - Burry considered the acquisition price of $56 billion to be too high and suggested that GameStop has better options for acquisitions.
HOW:
Business Insider - GameStop plans to fund the $56 billion acquisition through a combination of cash and third-party financing.
Business Insider - GameStop received a "highly-confident" letter from TD Securities for up to $20 billion in financing.
(UPDATED May 4, 2026 23:20 UTC)
Michael Burry has sold his entire position in GameStop Corp., expressing concerns over the company's recent acquisition strategy, particularly its offer to acquire eBay for about $56 billion in cash and stock, which he believes is too high. GameStop's bid for eBay, priced at $125 per share, is likely just the opening offer, and the company plans to fund this acquisition through a mix of cash and third-party financing, having already secured a "highly-confident" letter from TD Securities for up to $20 billion. Burry, who revealed his position in GameStop back in January, stated, "I may not last the week with my GameStop position fully intact."