GME News & Events

Investor Michael Burry said via Substack: "I own GME. I have been buying recently. I expect I am buying at what may soon be 1x tangible book value / 1x net asset value. And getting a young Ryan Cohen investing and deploying the company's capital and cash flows. Perhaps for the next 50 years...I am not counting on a short squeeze to realize long-term value. I believe in Ryan, I like the setup, the governance, the strategy as I see it. I am willing to hold long-term, and I am excited to see where this goes. I am fifteen years his senior, but not too old to be patient." Shares of GameStop are up 8%, or $1.80, to $24.79 following the post.

GameStop jumps 7% to $24.66 after Michael Burry says buying shares

Shares of GameStop are moving higher after investor Michael Burry said he's been buying the stock in an article posted on Substack. GameStop is up 7%, or $1.52, to $24.51 in midday trading.

Stock futures are higher as confidence returns to risk assets and markets rebound sharply from a bout of volatility earlier in the week that saw major indexes plunge as investors reacted to heightened trade-war fears tied to the threat of tariffs on European goods. The turnaround followed comments from President Donald Trump signaling a retreat from those tariff plans and outlining a framework agreement involving Greenland with NATO partners.Gold and silver prices have pulled back from recent records as safe-haven demand eases on the reduced risk of a broader trade conflict, and oil prices stabilized amid calmer macro conditions.In pre-market trading, S&P 500 futures rose 0.58%, Nasdaq futures rose 0.91% and Dow futures rose 0.40%.Check out this morning's top movers from around Wall Street, compiled by The Fly.HIGHER -Alibabaup 4% after Bloombergthat the company is planning to restructure its AI chipmaking division T-Head ahead of a potential IPOGameStopup 3% after disclosing that chairman Ryan Cohen increased his stake in the company to 9.3%, which represents over 42.08M sharesUP AFTER EARNINGS -Interparfumsup 4%Life Time Groupup 3%CACIup 2%DOWN AFTER EARNINGS -Abbottdown 7%McCormickdown 6%Mobileyedown 6%GE Aerospacedown 3%Huntington Bancsharesdown 3%Cadence Bankdown 3%Procter & Gambledown 1%Freeport-McMoRandown 1%