Michael Burry Posts Unseen 2019 Email From Keith Gill On GameStop, And Reveals How The Company Responded To His Demands

Michael Burry on Thursday posted an unseen email from Keith Gill, also known as “Roaring Kitty,” received in response to an open letter sent by the “The Big Short” legend to GameStop Corp.’s (GME) board of directors.

In a 2019 email, Burry urged the company to announce a share buyback program, given his estimate of the cash the company had, according to his post on X.

He also noted that trading volumes for GameStop shares exceeded the company’s total shares outstanding for the third consecutive month. Burry said that because of these high trading volumes, GameStop could pull off a buyback with “elegance and stealth.”

GameStop shares were up nearly 4% in Friday’s opening trade. Retail sentiment on Stocktwits around the company trended in the ‘extremely bullish’ territory at the time of writing.

Between Burry’s initial email to GameStop in August 2019 and his response to Scion’s investors in March 2020, GME stock rose nearly 26%.

Keith Gill’s Response

Gill, who was the driving factor behind the GameStop short squeeze in 2021, responded to Burry’s email, calling out the board’s inaction to the “absurdly low share price.”

“I’m a CFA charterholder with roughly 10 years of experience as an independent investor and I haven’t seen anything like this before,” he said.

Gill added that this kind of price action usually characterizes companies on their way to bankruptcy.

Get updates to this story developing directly on Stocktwits.

Also See: Two Moves Trump’s ‘Cronies’ Made That Have Krugman Worried About 2008-Style Meltdown

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