Movement Alert｜QXO Inc Rises 5.04% in Regular Trading, Michael Burry Discloses New Position Fueling Rally

Market Focus09-23

On September 23, QXO Inc rose 5.04% in regular trading, trading at $12.785/share with turnover of $169 million, extending gains from the prior session. The rally was driven by renowned investor Michael Burry's disclosure that he has purchased QXO common and preferred stock.

Burry, widely known as the inspiration behind \"The Big Short\" for his successful bet against the U.S. housing market before the 2008 financial crisis, published his investment thesis via Substack. He characterized QXO as a roll-up acquisition platform in the building products space with significant scale advantages, arguing that the stock's substantial price decline presents a compelling entry point. Burry noted that CEO Brad Jacobs has a strong track record of executing consolidation strategies.

The disclosure comes as multiple analysts maintain bullish outlooks on QXO. DA Davidson initiated coverage with a buy rating and a $26 price target, while Oppenheimer holds an outperform rating with a $32 target. QXO completed its approximately $17 billion acquisition of TopBuild on July 1 and projects at least $300 million in annual synergies by 2030.

(The above content is based on publicly available market information, generated by a program or algorithm, and is intended solely as a stock movement alert. It does not constitute investment advice or a basis for trading decisions.)

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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