Michael Burry Sells GameStop Stake Amid Concerns Over eBay Acquisition's Leverage
Michael Burry sold his entire stake in GameStop after the company's proposed $55.5 billion acquisition of eBay, citing concerns over the deal's heavy leverage. The move has raised questions about GameStop's financial viability and led to a 10% drop in its stock price. Burry argued that the level of debt required for the acquisition is incompatible with his 'Instant Berkshire' investment thesis.
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Topics: eBay GameStop investment strategy leveraged acquisitions Michael Burry stock price movement