GameStop Stock Drops as Michael Burry Dumps Stake on eBay Bid

2 days ago 14

GameStop (GME) shares dropped after “The Big Short” investor Michael Burry sold his entire stake.

The investor announced the move on his Substack post. He revealed that the GameStop sale is his first divestment since launching the blog.

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Michael Burry exits his entire $GME position.

The "Big Short" legend just dumped his FULL GameStop stake after Ryan Cohen's $56B eBay acquisition announcement.

Burry was loading up on $GME in January 2026, buying at 1x tangible book value with a massive thesis.$GME is down… pic.twitter.com/geGTIMVJGR

— BeInCrypto (@beincrypto) May 5, 2026

Michael Burry Exits Entire GameStop Stake

GameStop stock ended Monday at $23.84, down 10.14%. GME continued lower in after-hours trading, dipping 1.22% to $23.55, Google Finance data shows.

Burry’s exit followed GameStop’s non-binding $55.5 billion proposal to acquire e-commerce platform eBay at $125 per share. The offer splits the payment evenly between cash and stock, with Ryan Cohen taking the chief executive role at the combined retailer.

The investor first disclosed his GameStop position in January. However, Cohen’s acquisition push prompted him to walk away.

“I may not last the week with my GameStop position fully intact,” he wrote in a note. “I will certainly sell to an extent, perhaps all or some, but alas, no, not none.”

Burry wrote that his Berkshire Hathaway-style blueprint for GameStop was incompatible with the leverage Cohen needs to close the eBay deal.

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