MICHAEL BURRY DOUBLES HIS $GME GAMESTOP STOCK POSITION

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마이클 버리가 Substack 글에서 엔비디아 2027년 1월 만기 115 풋옵션을 추가 매수하고, 100 풋도 보유 중이라고 밝힘. 엔비디아가 hyperscaler 지출 의존과 재고 문제, 닷컴버블 당시 시스코와 유사하다며 비판. 게임스탑(GME) 지분을 늘렸고, 알리바바(신규 약 6%)와 JD닷컴(대폭 추가)을 미국 ADR로 매수. 월가는 엔비디아에 대체로 강세(60명 중 57명 매수 이상). 엔비디아 주가는 1년간 75% 이상 상승.

다듬은 글

※ 자동 자막 원문(다듬기 전)

01. The big short, Burry adds Nvidia puts, buys GameStop, jd.com, and Alibaba. In a Substack post on Friday, Burry said that he had bought Nvidia January 2027 puts at a strike price of 115. Burry said the decision to buy puts instead of shorting was to limit limit maximum loss and time decay. However, Wall Street analysts are betting big on Nvidia with 57 out of 60 analysts covering the stock having a rating of buy or higher on the company.

02. Meanwhile, Burry revealed expanded positions in GameStop stock, as well as Chinese companies jd.com and Alibaba Group. Contrarian investor Michael Burry, best known for betting against the US housing market before the 2008 financial crisis, said on Friday that he had added to Nvidia Corp puts while increasing his stake in GameStop Corp.

03. In a Substack post on Friday, Burry said that he had bought January 2027 puts at a strike price of 115. Implied volatility is high, so I thought about shorting it outright, Burry said, adding a a decision to buy puts instead was to limit maximum loss and time decay Put options are derivative instruments that give the buyer the right, but not the obligation, to sell an asset at a predetermined fixed price.

04. They are typically used to profit from stock price declines, indicating a bearish position. Meanwhile, the investor also said that he had purchased GME shares, adding to an existing position. Burry on Nvidia. The latest announcement from Burry doubles down on the investor's bearish outlook on the semiconductor company.

05. In earlier posts, Burry has argued that Nvidia is simply the purest play, criticizing the company's dependence on hyperscaler spending, and also cited inventory problems in the current AI buildout. So, shorting is it is cheap, and if puts are cheaper than some of the other big shorts out there that are more doubted, he previously said.

06. Burry has also compared Nvidia to Cisco Systems at the height of the dot-com bubble, highlighting issues with the purchase commitments. The other way I think about it is I am short about 3% of notional value, and borrowing costs could easily get that high or higher if Nvidia really starts falling. I also own Nvidia January 27th strike 100 puts from earlier, and I continue to hold those, Burry said in the latest post.

07. Nvidia betters. Meanwhile, other Wall Street investors are betting big on Nvidia. Dan Ives, managing director at Wedbush Securities, has backed the chipmaker aggressively, calling it massively underestimated and terming the company's chips the new gold, the new oil of the world. I don't think that really matters.

08. I think a lot of these semiconductor companies are extremely overvalued. So, I don't know if it really matters if you're like bullish. You know, uh uh most of these stocks have had huge runs, but as of the past like 6 months, they've also had massive sells, so I don't know. I don't know who I would agree with.

09. So far, Burry's been correct, so anyone else's opinion kind of just seems hopeful. Morgan Stanley's Joseph Moore has also named Nvidia as its leading semiconductor pick. Moore said concerns over how long the company can sustain its rapid growth have pressured the stock, but he expects sentiment to turn more positive as investors focus on its longer-term earnings outlook, especially for fiscal 2027.

10. The company has projected a strong Q1 2027 revenue forecast of around 78 billion, above estimates of about 71.6 billion. According to data from Koyfin, 57 out of 60 analysts covering Nvidia stock have a rating of buy or higher on the company. Nvidia shares have gained more than 75% over the past year.

11. Meanwhile, on StockTwits, retail sentiment around Nvidia shares has improved from extremely bearish to bearish territory over the past 24 hours. What's Burry betting on? Meanwhile, Burry revealed expanded positions in GME stock, as well as Chinese companies jd.com and Alibaba Group, which he bought as American depository receipts in New York.

12. In a market crash, I believe Ryan, CEO CEO of GameStop, Ryan Cohen, could move fast to deploy cash, which would be a catalyst, and I do not see much downside from here, as described in Final Stop GameStop. Corporate governance is as good as it gets if one is okay with a benign dictator, Burry said about GameStop.

13. The investor said that Alibaba was a new position at slightly more than 6% and JD was a significant add. The shares have been weak lately, providing an attractive entry point, he said. Burry also bought shares of fintech company Fiserv. GME stock has risen nearly 12% so far this year, while Fiserv stock has declined more than 14% in the same period.