Michael Burrys Big Short stock surges by 40 in just two weeks
Multiple consecutive 13-F filings submitted by Scion Asset Management, managed by Michael Burry, unveiled a series of seemingly unprofitable trades. Despite the initial bet against the semiconductor industry in 2023 being abandoned, the lackluster long position in Alibaba (NYSE: BABA) remained a focal point in the first quarter of 2024.
The landscape shifted dramatically with the latest filing released on May 15. While Alibaba and JD.com (NASDAQ: JD) continued to hold significant positions in the portfolio, a number of smaller yet highly successful investments were made. One notable stock that experienced a rapid surge following the recent filing is that of the solar panel manufacturing company First Solar (NASDAQ: FSLR).
While the exact timing of Burry’s purchase of FSLR stock is unclear, the company has seen a 42% increase since the filing and a 58.96% rise since the end of the first quarter of the year. This performance ensures that Burry is in a profitable position on the bet, considering First Solar’s stock price hovered between $140 and $172 for the entire Q1.
In contrast, First Solar’s current stock price is $274.29, reflecting a 59.32% year-to-date rise. Burry’s successful bets in 2024 extend beyond FSLR, with investments such as Safe Bulkers (NYSE: SB) witnessing an 80% 12-month increase and GEN Restaurant Group (NASDAQ: GENK) experiencing significant gains within a short period.
While FSLR’s two-week performance is impressive, it is just one of the many successful trades made by Michael Burry in 2024. The content on this site should not be considered investment advice. Investing carries risks, and caution is advised when making financial decisions.
