Michael Burry's Largest Position, Lululemon, Falls Over 50% This Year
Dr. Michael Burry, known for his role in the housing market crash depicted in 'The Big Short,' has seen a significant decline in his largest investment this year—Lululemon (NASDAQ: LULU). The stock is down over 52%, following weak earnings and guidance cuts from the company. In its latest quarter, Lululemon reported adjusted earnings per share of $2.06, which beat expectations but revenue fell short at $2.42 billion with a 9% drop in comparable sales. The firm slashed full-year revenue forecasts by up to 7%, citing poor promotional campaigns and declining sales in key product categories. Despite the downturn, Burry remains invested in Lululemon and has expressed interest in buying more if shares fall below $100. Analysts are divided on the stock’s future, with some lowering price targets significantly after recent reports.
Tickers: $LULU
Topics: Lululemon Market Commentary Michael Burry Stock Performance