Michael Burry Shorted This, But It Keeps Going Higher

Alright gang, let's talk about Nebius (NBIS).

Michael Burry shorted this thing around $212. Wednesday it closed up 34%, with intraday gains north of 40%.

Nebius put up $582 million in Q2 revenue, up 454% from a year ago. The adjusted loss came in at 12 cents when the street was looking for 67. They closed four compute deals in the quarter averaging over a billion dollars each and raised their contracted power target to 5 gigawatts.

The price ripped straight through the 20-day and the 50-day in a single session. Nothing above it but an unfilled gap running up to $276.17, and then the all-time high at $299.86 from back in June.

This thing spent weeks coiled up, and the daily squeeze just fired. Wednesday's range came in at 156% of its average, which tells you the move has legs under it.

Add a heavy short float on top, and you've got fuel.