"The Big Short" Michael Burry: Shorted Micron Technology's stock

CoinFeed July 3 news, according to Cailian Press, Michael Burry, the prototype of the protagonist in the movie "The Big Short," said on Thursday that he shorted Micron Technology's stock at a price of $1,051.87. Burry said that the high price of put options was the reason for his direct shorting, and pointed out that Micron's valuation, technical patterns, and long-term industry cycle all indicate significant downside risk. In a Substack post, Burry said Micron "interprets cyclicality to the fullest," noting that over the past 42 years, the stock has experienced 34 drawdowns of more than 30%, and the current deviation of the stock price from the 200-day moving average is the highest since 1984, "not even seen during the peak of the internet bubble."