Michael Burry is Betting Against Cathie Wood’s Fund, Tesla and Selling These 2 Other Stocks

4. Genco Shipping & Trading Limited (NYSE: GNK)

Number of Hedge Fund Holders: 19  

Genco Shipping & Trading Limited (NYSE: GNK) is a New York-based ocean transportation company. It is placed fourth on our list of stocks that Michael Burry is betting against and selling. According to securities filings, Scion Asset Management sold off its entire stake in Genco Shipping & Trading Limited (NYSE: GNK) between March and June this year. 

On May 7, investment advisory B Riley maintained a Buy rating on Genco Shipping & Trading Limited (NYSE: GNK) stock and raised the price target to $22 from $14, underlining continued strength in the dry bulk market as a growth catalyst for the firm. 

At the end of the second quarter of 2021, 19 hedge funds in the database of Insider Monkey held stakes worth $175 million in Genco Shipping & Trading Limited (NYSE: GNK), down from 22 in the preceding quarter worth $121 million.