Michael Burry saved this much by selling this disastrous stock

Core Viewpoint - Advance Auto Parts (AAP) experienced a significant decline in stock price after a strong start in 2024, leading to a substantial loss for investors like Michael Burry, who managed to sell his shares before the downturn [1][2]. Group 1: Stock Performance - AAP shares were up 36% year-to-date by the end of Q1 2024, generating approximately $3 million in profit for Michael Burry [1]. - By August 28, 2024, AAP's stock had retraced almost 50% from its earlier highs, with the price dropping from around $80 in early April to $47.67 [1][2]. - The stock was approximately $63 on the last day of June 2024, indicating a significant decline from its peak [2]. Group 2: Investment Decisions - Michael Burry's timely sale of AAP shares allowed him to avoid potential losses, with estimates suggesting he could have saved up to $3 million had he sold in early April [2]. - Even if he sold at the end of Q2 2024, he would have avoided $1 million in losses due to the disappointing earnings report released in late August [4]. - Burry's original investment in AAP consisted of 70,000 shares, purchased when the stock was trading between $48 and $65 in Q4 2023, indicating a profitable trade unless he sold at the lowest point in Q2 2024 [5][6].