Geo Group Investment: Did Michael Burry Sell Too Soon?
Understanding Michael Burry's Investment Moves
Michael Burry, known for his foresight in investing, made headlines when he sold his stake in Geo Group too soon. The Geo Group (NYSE: GEO) stock price saw a significant decline earlier this year but has recently experienced a remarkable resurgence. If Burry had held on to his investment, the potential profits would have soared.
How Much Did Burry Lose?
- Burry initially owned 600,000 GEO shares, valued at $4.8 million by the end of Q3 2023.
- Purchasing at lows near $7 allowed him to profit around $500,000.
- However, the stock's value has increased, indicating a missed opportunity for nearly $10 million in profits.
Current Geo Group Trends
Currently, Geo Group's stock has surged, seeing an impressive percentage rise since the beginning of 2024. The broader prison stock rally has gained traction following the political landscape's shift.
Future Outlook for Geo Group
As the market anticipates the implications of the upcoming administration’s policies, the potential for significant contracts and growth in the private prison sector cannot be underestimated. Understanding these dynamics is crucial for investors evaluating opportunities in this space.
This article was prepared using information from open sources in accordance with the principles of Ethical Policy. The editorial team is not responsible for absolute accuracy, as it relies on data from the sources referenced.