News Formal

‘Big Short’ sage Michael Burry ticks off market ‘crash’ checklist as meme stocks, crypto struggle

  • 📰 nypost
  • ⏱ Reading Time:
  • 20 sec. here
  • 2 min. at publisher
  • 📊 Quality Score:
  • News: 11%
  • Publisher: 67%

Nigeria News News

Nigeria Nigeria Latest News,Nigeria Nigeria Headlines

Burry first cautioned that US stocks were heading toward “the mother of all crashes” in June 2021.

At the time, he cited irrational “fear of missing out” trading activity related to cryptocurrencies and meme stocks as a sign of the volatility.

“All hype/speculation is doing is drawing in retail before the mother of all crashes,” Burry tweeted. “When crypto falls from trillions, or meme stocks fall from tens of billions, #MainStreet losses will approach the size of countries.” The hedge fund wizard followed up on that prediction in a tweet last week while sharing a chart showing the S&P 500’s decline so far this year.

We have summarized this news so that you can read it quickly. If you are interested in the news, you can read the full text here. Read more:

 /  🏆 91. in NG
 

Thank you for your comment. Your comment will be published after being reviewed.
Please try again later.

Nigeria Nigeria Latest News, Nigeria Nigeria Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Bitcoin Crashes to 6-Week Lows as Crypto Markets Shed $60 Billion (Market Watch)The crypto market cap saw $60 billion gone daily as bitcoin slumped to a 6-week low while ETH plummeted by nearly 10%.
Source: Crypto_Potato - 🏆 568. / 51 Read more »