Burry returns to GameStop with a long-term value thesis, not a meme trade

Michael Burry has confirmed he’s buying GameStop again, and the stock jumped around 6–8% on the disclosure.

He’s pitching GME as a boring, balance-sheet value play at roughly tangible book value, praising CEO Ryan Cohen’s cash discipline and long-term strategy.

The market reaction is split, with some retail traders cheering while critics question whether the valuation and fundamentals justify the renewed hype.