Famed investor Michael Burry has exited his entire GameStop position, revealing the move in a Substack post on Monday. The hedge fund manager, known for his prescient bets against subprime mortgages during the financial crisis, said this marks his first sale since launching the blog. GameStop shares dropped more than 2% in postmarket trading following the disclosure.

Burry's exit comes after GameStop announced a surprise $56 billion offer to acquire e-commerce platform eBay in cash and stock. The gaming retailer's aggressive expansion beyond its core business appears to have prompted Burry's decision to cash out. Known for his short-selling prowess, Burry gained widespread recognition after being portrayed by Christian Bale in *The Big Short*.

The proposed eBay acquisition represents a dramatic strategic shift for GameStop, which has been transitioning from brick-and-mortar gaming retailer to broader e-commerce player. Burry's departure signals potential concerns about the company's ambitious direction and valuation.

Investors now face uncertainty about whether GameStop can successfully execute such a massive transformation while managing its legacy retail operations. Burry's timing suggests he sees better opportunities elsewhere in the current market environment.