Jun. 15 at 7:11 PM
Michael Burry just bought more
$PYPL and
$ADBE.
Interesting timing…
- Both stocks are trading near multi-year lows.
- Both are highly profitable.
Burry called
$ADBE a "clear deep value opportunity."
He bought more after the stock sold off despite beating earnings and raising guidance.
He also added
$PYPL, saying: "The market has been attending PayPal's wake for years, though the body has yet to show."
The numbers are interesting:
$PYPL trades at just 8x earnings and is aggressively buying back stock.
$ADBE trades at around 9x earnings with gross margins near 89%.
For those who needs a reminder, this is the same guy who shorted the housing market in 2008 when everyone called him crazy.