‘The Big Short’ Michael Burry Receives Subpoena from SEC Over GameStop
‘The Big Short’ Michael Burry, who has captivated audiences not only with is successful bet on the 2008 subprime mortgage crisis but also with his insightful warnings on the largest economic bubble of our time, has just become the SEC’s latest foe.
Recall, about two years ago Burry unveiled his bullish view on GameStop (NYSE: GME), announcing that his hedge fund, Scion Asset Management, had bought a long position in the video game retailer. Although he sold his position well ahead of the infamous GameStop vs. Robinhood vs. Citadel fiasco, he has occasionally appeared on twitter to express his discontent with all that is meme stocks, Tesla, Cathie Wood, and everything else that encompasses that sort of ignoramus establishment.
However, after a brief period of silence (which he attested to a “visit” from the SEC), Burry moments ago reemerged on Twitter once again, tweeting a brief letter he had received from the SEC, in regards to “the Matter of GameStop Corp”. According to the partial text, Burry’s Scion Asset Management had been subpoenaed for documents related to the infamous video game retailer.
Although it remains unclear what exactly the letter means in terms of relevant documents, Burry couldn’t help but express his annoyance: “with all that’s going on in the world…”
Information for this briefing was found via Twitter. The author has no securities or affiliations related to this organization. Not a recommendation to buy or sell. Always do additional research and consult a professional before purchasing a security. The author holds no licenses.
