The prototype character of Big Short received a SEC subpoena for the game's station stock

Michael Burry, the archetype of the movie "Big Short," revealed that he recently received a subpoena from the U.S. Securities and Exchange Commission (SEC) for trading in gaming station stocks as part of an investigation into deals surrounding "retail syndicated" stocks such as game consoles.

Bury tweeted last week: "Who received a subpoena from the SEC for GME? In fact, I know who it is, and I have it on my subpoena. So much is happening in the world..." He also showed a copy of the SEC subpoena, showing that it was issued on September 21.

Bury has contributed to the retail investors' air war that broke out earlier this year over stocks such as game stations.

Last April, Bury took a bold step during the market crash caused by the COVID-19 pandemic, buying about $15 million worth of Gamestop stock at $2 to $4.2 per share and triggering one of the weirdest and most out-of-control deals in financial history through a series of actions.

In a sternly worded letter to the board of directors of Gaming Station, Bury called on the company to exhaust its $300 million buyback line. At the time of his letter, GameStop's market capitalization was only $300 million.

In his letter, Bury hinted that the game station could squeeze the shorts by buying back shares, causing a short roll. His move sparked one of the weirdest and most runaway deals in financial history, generating billions of dollars in book profits for some investors, mostly amateur speculators, and potentially costing some of the world's most established hedge funds billions of dollars in losses.

As of the end of September last year, Scion Asset Management held a $19 million stake in Gaming Station (at the then-share price). But the company emptied those stocks in the fourth quarter of last year, thus completely missing the soaring market of the game station in the US retail market in January.

This article originated from the Financial Circle Network