Michael Burry Buys More of This Stock Despite a 71% Collapse and CEO Departure: Here's Why

[https://www.ibtimes.co.uk/michael-burry-fiserv-stock-strategy-1803049](https://www.ibtimes.co.uk/michael-burry-fiserv-stock-strategy-1803049)

In a Monday trading post on Substack, Burry said financial technology company Fiserv, which is down 55% over the past five years, is a 'dog of a stock, now under $48 from $226 early last year.'

Burry remained bullish on the Fiserv stock while highlighting that the current stock price is at a 10-year low. It also gapped down by over 3% eight times and more than 10% three times over the past 18 months, he added. On Monday, the stock gapped down about 8% and closed 10% in the red after CEO Mike Lyons' sudden exit, which Burry believes is a 'thesis violation,' but it does not mean sell, but re-evaluate.

'In something like this, buying very cheap is important,' Burry noted, adding that the company's core business remains intact despite the sharp selloff.

Burry used the selloff to add to his position.