U.S. stocks moved broadly higher on Aug. 12 after supportive CPI data, and several names tied to Michael Burry’s short positions also advanced, according to market data from BIT (bit.com). NBIS was up 20.96% at $233.62, while Micron gained 6.26%, Nvidia rose 2.93%, and SOXX added 2.89%. The move put focus back on Burry’s recently disclosed positioning. In a trading update posted on Substack on Aug. 6, Burry said he had established a direct short equity position in NBIS at about $211.77, describing the position size as relatively large. He also explained why he shorted the stock outright instead of buying put options: implied volatility on the puts was above 100% at the time, making them too expensive. The rally means several of the stocks and instruments identified with his bearish view were trading higher on the day.
U.S. stocks rose across the board on Aug. 12 after favorable Consumer Price Index data, with several securities linked to Michael Burry’s short positions also moving higher.
According to market data from BIT (bit.com), NBIS was up 20.96% at $233.62. Other Burry short targets also posted gains, with Micron up 6.26%, Nvidia rising 2.93%, and SOXX adding 2.89%.
Burry disclosed the NBIS short on Aug. 6
In a trading update published on Substack on Aug. 6, Michael Burry said he established a direct short equity position in NBIS at about $211.77. The position size was described as relatively large.
He said he chose to short the stock directly rather than buy put options because implied volatility on the puts was above 100% at the time, making them too expensive.
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