GME Shares Surge Nearly 8% After Michael Burry Goes Long On Stock

• Burry also noted CEO Ryan Cohen’s investment in the video game firm, saying he believes in Cohen. 
• The investor added that he likes the setup, the governance, and the strategy of the firm. 
• Cohen bought 500,000 shares each on Jan. 20 and Jan. 21, according to filings with the U.S. Securities and Exchange Commission.

Shares of GameStop Corp. (GME) popped nearly 8% on Monday after “The Big Short” investor Michael Burry said he is buying the stock.

"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,” said Burry, in a Substack post, as per TheFly.

Burry also noted GameStop CEO Ryan Cohen’s investment in the video game firm, saying he believes in Cohen. “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,” Burry said.

“I am fifteen years his senior, but not too old to be patient," he added.

The Long-Term Position

Burry is willing to hold the meme stock for the long-term, and is “excited to see where this goes,” he said in the post. The investor added that he likes the setup, the governance, and the strategy of the firm.

“Ryan is making lemonade out of lemons,” Burry said, according to a CNBC report. “He has a crappy business, and he is milking it best he can while taking advantage of the meme stock phenomenon to raise cash and wait for an opportunity to make a big buy of a real growing cash cow business.”

Insider Holdings

Cohen increased his stake in GameStop by buying 500,000 shares on Jan. 20 at an average price of $21.12 per share, according to a filing with the U.S. Securities and Exchange Commission.

Subsequently, Cohen went on to purchase another 500,000 shares on Jan. 21 at a higher average price of $21.60 per share, as per another filing, noting that he believes “it is essential for the Chief Executive Officer of any public company to purchase shares of such company in the open market with his or her own personal funds in order to further strengthen alignment with stockholders,” adding that any CEO who does not do the same “should be fired.”

The company’s Director Alain Attal also bought 12,000 shares on Jan. 21, at an average price of $21.63 and another director, Lawrence Cheng, acquired 5,000 shares of the company on Jan. 23, 2026, at an average price of $22.87 per share.

How Did Stocktwits Users React?

On Stocktwits, retail sentiment around GME shares remained in the ‘extremely bullish’ territory over the past 24 hours amid ‘extremely high’ message volumes.

One bullish user said they would hold till the stock rallied to $100. GME shares are trading at around $24.78 levels at the time of writing.

Shares of GME have declined by over 9.5% in the past year.

For updates and corrections, email newsroom[at]stocktwits[dot]com.
 

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