Yahoo Finance Live examines Michael Burry's Scion Asset Management hedge fund's investment in the private prison operator GEO Group.
SEANA SMITH: The final half hour of trading, three stocks that we are watching here in those final hours. We have GEO, thredUP, and also some of the meme plays, Bed, Bath & Beyond one of those trendy names. My play today is GEO. The stock is soaring, and here is what is driving it. Michael Burry's Scion Asset Management revealing in a 13F filing that he sold his portfolio, except for just one stock, and that is GEO Group, the private prison operator. You can see shares off the highs of the day, still holding onto gains, though, up just about 4%.
Now Burry now owns just over 500,000 shares of the company. And as you can see, from today's action, some investors are following his lead. Shares are up just about 15% since the end of the second quarter. And Dave, we talk about the fact that so many of these plays-- and Jared, you as well-- are getting investors' attention, especially from the retail trader. And it looks like at least in today's action, GEO might also be one of those plays.