Wednesday, November 15, 2023

Burry Bears Down on Semiconductors: Scion's Strategic Shift Signals Bearish Stance, Including Nvidia

In a strategic shift, Michael Burry sets his sights on semiconductor stocks, narrowing his bearish stance on U.S. equities to one of the market's most dynamic sectors. Scion Asset Management, led by the famed investor of The Big Short, has invested $47.4 million in put options against the iShares Semiconductor ETF (SOXX), signaling a targeted approach. Noteworthy components include Nvidia (NVDA), Advanced Micro Devices (AMD), and Broadcom (AVG), all riding the wave of AI enthusiasm and experiencing substantial growth this year. 

Michael Burry, renowned for his prescient bet against the housing market in the 2007 subprime mortgage collapse, continues to make waves in the financial realm.

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