Michael Burry sells GameStop after Ryan Cohen's hefty eBay bid: 'Never confuse debt for creativity'

Michael Burry dumped his entire stake in GameStop after the company's audacious bid for eBay , saying the deal's heavy leverage shattered the investment case he had been building. "I sold my entire GME position," Burry said in a Substack post late Monday. "Any which way I sliced it, the Instant Berkshire thesis was never compatible with > 5x Debt/EBITDA, never ok with interest coverage under 4.0x ... …