Michael Burry Shares 2019 Email From 'Roaring Kitty': Here's What Famous GameStop Investor Keith Gill Wrote - GameStop (NYSE:GME)

Core Insights - Investor Michael Burry shared a 2019 email from Keith Gill, highlighting early convictions regarding GameStop Corp.'s potential before its significant rise during the 2021 meme stock rally [1] Group 1: Burry's Advocacy - Burry urged GameStop's management to complete the remaining $237.6 million of its buyback authorization, which would retire over 80% of the company's outstanding shares, significantly increasing earnings per share [2] - He noted that GameStop had over $480 million in cash, sufficient to complete the share repurchase and still invest in the business and pay down debt, while the market capitalization was only $290 million [3] Group 2: Gill's Support - Keith Gill expressed support for Burry's analysis, agreeing that the board's inaction was concerning given the "absurdly low share price" [4] - Gill described GameStop's stock chart as "one of the ugliest" he had seen, indicating a strong belief in the stock's undervaluation despite market pessimism [4] Group 3: Stock Performance Context - The email exchange occurred nearly two years before GameStop's stock surged 1,294% in less than a month during the 2021 short-squeeze [5] - Currently, GameStop's shares are down 2,133% from their all-time high of $483 per share on January 28, 2021, and have decreased by 29.45% year-to-date [5]