Michael Burry's Substack, Cassandra Unchained, plans to raise its monthly fee from $49 to $69 and annual fee from $479 to $679 from Nov. 1. It shows over 342,000 subscribers, up from 300,044 in July; if all paid the new annual fee, gross revenue would reach $232.2 million, though free readers and existing lower rates mean actual revenue is undisclosed. Burry highlighted Adobe (ADBE), Fiserv (FISV), Birkenstock (BIRK) and QXO as 'busted' stocks that could be a haven in a prolonged bear market, with ADBE, FISV and BIRK gaining 6.1%, 5.4% and 4.2% on Thursday as the SPY and QQQ fell 1.2% and 2.9%. He also warned a FASB proposal could force Nvidia to deduct circular revenue, with comments open until Nov. 23.
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Related tickers and likely impact
SPY
▼ Likely negativeSPDR S&P 500 ETF
Relevance: low
| Market | US stocks |
|---|---|
| Sector | ETF |
| Close on 10/22/2026 | 764.02 |
| Change that session | -1.17% |
XAU/USD
• NeutralRelevance: low
| Market | Gold |
|---|---|
| Close on 10/22/2026 | 4,024.59 |
| Change that session | -2.82% |
Impact is scored by AI from the headline and may be wrong. It is not investment advice.
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