Big Lots Rallies 30%+ Intraday After Firm Owned by 'Big Short''s Michael Burry Boosts Stake

Benzinga ·  Feb 15 15:47

$Big Lots (BIG.US)$ rallied more than 30% intraday Thursday after Scion Asset Management -- the financial firm headed by Michael Burry of The Big Short fame -- disclosed an increased stake in the retail chain.

BIG rose as much as 34.1% to a $5.07 intraday high after Scion revealed in a securities filing Wednesday that it boosted an existing stake in the company by 225,000 shares.

Scion is headed by Burry, a hedge-fund investor who shot to fame after his depiction in the book and movie The Big Short, about investors who made a fortune correctly betting against the early 2000s real-estate bubble. Actor Christian Bale portrayed Burry in the film.

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