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Michael Burry’s largest prison stock bet is paying off

Michael Burry's largest prison stock bet is paying off
Ana Zirojevic

Famous investor Michael Burry has once again justified his reputation for being a very shrewd analyst of the markets, as his largest prison stock bet continues to pay off, increasing in value by 10% since his company, Scion Asset Management, filed its holdings report in mid-August.

Indeed, the 13F filing from August 14 shows that Burry, known for shorting the housing market right before the bubble burst in 2007, earning him and his investors hundreds of millions of dollars, as depicted in Michael Lewis’s best-selling book and 2015 film adaptation called ‘The Big Short,’ is invested in Geo Group (NYSE: GEO).

Since the quarterly holdings report’s filing, which shows over 600,000 GEO shares, Burry’s largest prison stock has grown 10%, adding another 7% yesterday, and trading at the price of $8.04, as observed by the analyst running the X page Michael Burry Stock Tracker in a post published on September 27.

GEO stock 6-month performance chart. Source: Michael Burry Stock Tracker

As the Michael Burry Stock Tracker further specified, “last week, Citron Research released a bullish report with a price target of ~$13,” which would represent “another 62% gain from here.”

Specifically, prison stocks are the stocks by companies that own and operate private prisons and jail detention facilities in the United States. This system works by the US government signing contracts with these private companies that own properties and provide prison management facilities there.

GEO stock price analysis

Meanwhile, the price of the GEO stock at press time stood at $7.87, recording an increase of 4.10% on the day, a 5.35% gain across the previous week, and growing as much as 13.24% on its monthly chart, according to the latest data retrieved on September 28.

GEO 7-day price chart. Source: TradingView

As Finbold reported in mid-September, recent disclosures from the Michael Burry Stock Tracker revealed a substantial $4 million stake in Geo Group, and the stock saw a significant price spike on September 11, following Citron Research’s bullish report.

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