Instead of billions, however, Burry looks like he may have made about $100 million on GameStop. Burry bought two million shares and recommended an obvious arbitrage. The Redditors bought stock and options, trying to squeeze professional hedge fund investors who were short and it worked. At its peak, Burry’s position Burry’s in GameStop amounted to 3.4 million shares or 5.3% of the ailing video game retailer, purchased at prices between $2 and $4.20 a share. Had Burry held onto his maximum holding of 3.4 million shares, they’d have been worth over $1.5 billion at GameStop’s Reddit-inspired 2,000%-plus surge in 2021.

Source: Forbes February 16, 2021 16:30 UTC