- “Big Short” investor Michael Burry believes Reddit-favored meme stocks are set to crash like the dot-com and housing market bubbles of previous decades, Barron’s reported.
- “We’re running out of new money available to jump on the bandwagon,” Burry told Barron’s.
- Burry was one of the first investors to spot and profit from the subprime mortgage crisis.
“The Big Short” investor Michael Burry believes Reddit-favored meme stocks are set to crash like the dot-com and housing market bubbles of previous decades, Barron’s reported Friday.
“I don’t know when meme stocks such as this will crash, but we probably do not have to wait too long, as I believe the retail crowd is fully invested in this theme, and Wall Street has jumped on the coattails,” Burry told Barron’s.
“We’re running out of new money available to jump on the bandwagon,” he added.
Burry was one of the first investors to spot and profit from the subprime mortgage crisis, as profiled in the popular book and movie. He made headlines in 2019 after he said he was long GameStop, but sold his stake during the fourth quarter of last year, before the meme mania in January.
www.cnbc.com/2021/07/01/michael-burry-reportedly-says-meme-stocks-are-set-to-crash.html