NBIS Surges 20.96% as Burry Short Positions Face Sharp Reversal

Michael Burry's shorted stocks rally on positive CPI data; NBIS jumps 20.96%, Micron 6.26%, and NVIDIA 2.93%, inflicting losses on the renowned trader's direct short positions.

Woofun AI reports that U.S. equities experienced broad-based gains following favorable CPI data, resulting in significant losses for Michael Burry's short portfolio. NBIS led the reversal with a 20.96% increase to $233.62, while Micron rose 6.26%, NVIDIA climbed 2.93%, and the SOXX index advanced 2.89%.

Burry disclosed on August 6th that he initiated a direct short position in NBIS near $211.77 per share. He selected direct shorting over put options due to implied volatility exceeding 100%, which rendered options premiums prohibitively expensive.