, dot-com bubble
, Financial Crisis
, Housing Bubble
, Meme stocks
, MI Exclusive
, Michael Burry
, Scion Asset Management
, The Big Short
Photo by Kevin Mazur/WireImage
Michael Burry said the meme-stock craze reminded him of the dot-com and housing bubbles.
"The Big Short" investor predicted the buying frenzy would end in a brutal crash.
Burry also explained why becoming a meme stock can be a huge boon for a company.
See more stories on Insider's business page.
Michael Burry warned the frenzied buying of meme stocks reminded him of the dot-com boom and housing bubble in a recent Barron's interview, and predicted the social-media favorites would plummet in value soon.The Scion Asset Management chief noted the people who went all-in on technology stocks at the turn of century, and those who took out massive loans to buy multiple homes in the mid-2000s, didn't expect the good times to end. Meme -stock i...