Investor Michael Burry has purchased shares in sports betting giants Flutter Entertainment and DraftKings. On his website, Burry disclosed that he acquired Flutter shares at around 107 dollars and DraftKings shares in the low 26-dollar range, building full-sized positions in both names, with Flutter accounting for roughly 60 percent and DraftKings about 40 percent. He noted that the main threat to both companies is prediction markets exploiting regulatory loopholes to avoid state gambling taxes while being offered nationwide, but expressed the view that they will eventually become subject to regulation and taxation. He also revealed that he added to his position in China's JD.com at 27.58 dollars, and said he expects Hong Kong and Chinese stocks to benefit from the cooling of overheated AI and semiconductor stocks in South Korea and Japan.
Jd Com IncMichael Burry added to his JD.com position at $27.58, expecting benefits from cooling AI/semiconductor stocks.
Flutter Entertainment plcMichael Burry disclosed a large purchase of Flutter shares, signaling confidence.