topstockalerts
Nov 11, 9:11 PM
Michael Burry revealed Wednesday that he repurchased shares of Lululemon after closing his previous position in October, describing the stock as an attractive investment with limited downside at its current price. In a Substack post, the investor said he remains confident in the company's product research and development capabilities, arguing that its strong product innovation has been overlooked by the market.
Burry believes Lululemon's recent underperformance partly reflects shortcomings in marketing and corporate communications under its new management, which he says have failed to adequately address the company's weaknesses in these areas. He also noted that the stock's 4% decline on Wednesday created an attractive buying opportunity, adding that the drop was enough to convince him to rebuild his position. Shares subsequently recovered part of their losses following his comments.
$LULU $ADBE $PYPL $JD
