Michael Burry's PacWest Play Proves Profitable... If He Held It Until Now
Portfolio Pulse from AJ Fabino
Michael Burry's Scion Capital purchased 250,000 shares of PacWest Bancorp (PACW) during the regional banking crisis in Q1 2021. Despite the bank's share prices plummeting due to deposit outflows, Burry saw an opportunity. If he held onto the shares until the recent merger news with Banc of California Inc (BANC), he would have made a profit of about 15.21%. The merger aims to leverage market opportunities, expand the customer base, and enhance product offerings.
July 26, 2023 | 6:55 pm
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POSITIVE IMPACT
Banc of California's merger with PacWest Bancorp aims to leverage market opportunities, expand the customer base, and enhance product offerings. This could potentially boost Banc of California's performance.
The merger with PacWest Bancorp is expected to bring several benefits to Banc of California, including leveraging market opportunities, expanding the customer base, and enhancing product offerings. This could potentially boost the bank's performance.
CONFIDENCE 85
IMPORTANCE 70
RELEVANCE 80
POSITIVE IMPACT
PacWest Bancorp's shares saw a lift following the merger news with Banc of California. If Michael Burry's Scion Capital held onto the shares, they would have made a profit of about 15.21%.
The merger news with Banc of California has positively impacted PacWest Bancorp's share prices. If Scion Capital held onto the shares they purchased during the regional banking crisis, they would have made a significant profit.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100