The Economic Times

Why GME stock surged over 8% today: Michael Burry says he's buying GameStop shares for the long term

GME stock today: GameStop shares saw a significant rise after investor Michael Burry disclosed his long-term investment. Burry believes in the company's valuation and leadership under CEO Ryan Cohen. He is not anticipating a short squeeze but rather a future realization of value. GameStop has built a strong cash position through equity offerings, which Burry sees Cohen strategically deploying.