As Michael Burry Buys Up GameStop, Wall Street Analysts Are Still Staying Far Away on the Sidelines

Core Insights - Michael Burry has been accumulating shares of GameStop Corporation (GME) in 2026, indicating a renewed confidence in the company's future prospects [1] - The narrative surrounding GameStop's stock is shifting from meme-driven speculation to a value-oriented investment thesis [2] Company Overview - GameStop is a specialty retailer of video games, consumer electronics, and pop-culture merchandise, operating both physical stores and e-commerce platforms, with a market cap of approximately $10.6 billion [5] Investment Thesis - Burry's investment in GameStop is based on a long-term value perspective, expecting to accumulate shares near 1x tangible book value and net asset value, driven by confidence in CEO Ryan Cohen's capital allocation and strategy [3] - Burry is not relying on a short squeeze but is willing to hold the stock for years as Cohen utilizes GameStop's substantial cash position, which was built through previous equity offerings [4] Stock Performance - GameStop's stock price in 2026 is in the low-to-mid $20 range, significantly lower than the highs seen in January 2021, with a positive return of 14.4% so far in 2026 after a decline in 2025 [6] - The stock has experienced a 16.5% decline over the past 52 weeks, but renewed interest has been sparked by high-profile investors like Burry accumulating shares [6][7]