Michael Burry (The Big Short) has reportedly dumped his GameStop (GME) holdings

GME stock is at a five-day low following news of CEO Ryan Cohen's proposal to acquire eBay.

GameStop is back in the news cycle with reports that Michael Burry, known from the book The Big Short, has dumped his GME holdings.

On May 4, 2026, Reuters reported that Michael Burry (The Big Short) has dumped his GameStop (GME) holdings. This follows on from reports that CEO Ryan Cohen offered an unsolicited acquisition offer to eBay. This acquisition is valued at $56 billion and is made up of stock options.

The response from eBay regarding the unsolicited acquisition offer has been that its Board of Directions will discuss with consultants and financial and legal advisors before a decision is made. “Until the Board has further carefully and thoroughly considered the proposal, the company does not intend to comment further at this time,” the statement concluded.

For this deal to go through, Ryan Cohen will have to dilute GameStop shareholders. That means he will issue shares to raise funds, which means shares today will be worth less than they were before this deal was announced. Burry’s decision to sell may have been motivated by this dilution and the amount of debt that the combined entity would have on its balance sheet if the deal goes through.

It was only in January of this year that there were reports of Michael Burry buying GameStop shares. The stock was up over 7 percent on the news. Stay tuned to Shacknews as we bring you the latest on what’s happening with GameStop and its proposal to acquire eBay.

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