Adobe shares rose 3% in intraday trading on Tuesday following unconfirmed reports that Michael Burry, the investor who famously predicted the 2008 housing collapse, had taken long positions in the software company.
The stock climbed as high as $270 after the opening bell before retreating to around $268. per Yahoo Finance. Year-to-date, shares of the San Jose-based firm have fallen roughly 23%.
The reported move would mark a departure from Burry’s recent bearish stance on artificial intelligence equities. By late 2025, put options against Nvidia and Palantir accounted for nearly 80% of his disclosed portfolio, valued at roughly $1.1 billion combined.
Burry has also maintained a skeptical view toward digital assets, previously likening Bitcoin to the Dutch tulip craze of the 17th century and dismissing it as lacking intrinsic value.
Separately, Senator Markwayne Mullin, a Republican from Oklahoma, disclosed owning as much as $50,000 in Adobe stock in a March 2 filing. The lawmaker acquired the shares in early February.
Mullin’s disclosure also revealed new stakes in Citigroup and Goldman Sachs Group while exiting positions in Dell and several other technology names.
