Key points:

• GameStop shares rise
• Another meme run ahead?
• Or more like long-term play?

Video game retailer is up more than 16% ahead of Tuesday’s opening bell, following a 4.5% Monday pop.

👀 Burry Enters, We Notice

• GameStop stock GME ripped higher to kick off the week after Michael Burry disclosed a fresh stake (at unknown size), framing it as a value play rather than a nostalgia-fueled meme revival.
• Shares jumped 4.5% Monday and were up over 16% year-to-date premarket Tuesday, proving the OG meme stock still reacts violently to famous names entering the chat.

🧐 Not a Squeeze, but a Balance Sheet

• Burry said he’s buying near one times tangible book value, meaning the stock roughly matches the company’s hard assets minus liabilities.
• In other words, this is old-school value math, not rocket emojis. He explicitly said he is not counting on a short squeeze to make the trade work.
• The thesis leans on cash, governance, and patience, which is almost suspiciously un-meme-like.

💪 Ryan Cohen, Long Game Mode

• The former hedge fund manager praised CEO Ryan Cohen for capital discipline and long-term thinking, suggesting GameStop could compound value quietly over decades, not trading days.
• The timing of the bet is interesting, too, coming after he closed up his fund, Scion Asset Management, reinforcing that this is personal conviction capital, not hedge-fund theatrics.
• All in all, GameStop still carries meme DNA, but Burry believes what’s next may read more like “deep value” than “shorts in shambles.”

Source: Tradingview