Michael James Burry is a hedge fund manager who now heads Scion Asset Management. He is proven to have ‘good picks’ and is never afraid of taking risks because his approach is research and facts based it gives him good returns.
Below are Michael Burry’s New Stock Picks.
Ares Capital Corporation is a finance company that announced a public offering in February of 13.5 million shares. Currently, they have a total investment income of $440 million. Arrow Street Capital is the most significant stakeholder in the company, worth $39.1 million.
Suncoke Energy, Inc, a raw material processing company, has had its stock value up by 120% over the last year and with revenue of over $310.1 million. Ingles Markets, Incorporated is a supermarket chain company in North Carolina. It has consistent growth the past year, and the value of its stock is up 74%, with revenue of $1.19 billion.
HollyFrontier Corporation had losses during 2020 with operating and expenses rose. Despite this, the value of their stock went up 112% in the same year.
CoreCivic, Inc operates more than 50 correctional and detention facilities across the United States. The company’s stock prices fell by 23% following President Biden’s executive order, which affected their operations; nevertheless, the company’s performance has been doing well despite significant losses and debts.
Shares of Molson Coors Beverage Company went up by 19% over the past year, even with a weak performance during Q4 of 2020. While there seems to not be substantial benefit from investing in this company, it was to note that this industry became quite resilient amid the pandemic.
The GEO Group, Inc. is a multination corporation that invests in private prisons and mental health facilities. Most of its revenue comes from partnerships with government entities. The GEO Group has had a good performance and has applied various means towards debt reduction.
Wells Fargo & Company’s stock value went up 42% over the year. Share prices of the company have been improving following major scandals and administrative turnaround. It was to note that company had a good performance in Q4 of 2020.
NOW Inc. ranks number one on the list. When they announced that they have plans to acquire Flex Flow business, the stock’s value went up by 75%. Presently, many companies and government entities have decided to reduce energy consumption; many oil companies will suffer, including NOW. Burry’s reasoning for investing in NOW’s stocks is even with industry turmoil, performance has been good and NOW is remarkably resilient.
To read more, head on over to Insider Monkey’s Michael Burry’s New Stock Picks.
