# Michael Burry Warns: IPO Boom Could Crash Market!
**Date:** 2026-05-28  
**Source:** [YouTube](https://www.youtube.com/watch?v=NF3Bjryy1bM)

## Main Thesis
Michael Burry believes the markets are at an inflection point due to an impending $4 trillion IPO boom, potentially leading to a market crash similar to or larger than the dot-com bubble, especially as some hot tech stocks are showing signs of weakness despite analyst upgrades.

## Charts & Technical Analysis

### 1. SNDK (SanDisk) (daily)

**Bias:** BEARISH
**Pattern:** null
**Key Levels:** 1589.94 (resistance/recent high)

The chart shows a daily candlestick chart for SanDisk ($SNDK). Atkinson points to a specific red candlestick (around June) that represents an 8% swing, suggesting a significant sell-off after an initial rally. He notes that SanDisk was upgraded by Barclays, and Micron by UBS, but these stocks rallied at the start of the session and then sold off by the end of the day, indicating that 'somebody was transacting near those tops.' This suggests that despite positive analyst sentiment, the market itself is selling into strength, which is a bearish signal. He also mentions that Nvidia has lost over 11% over the last 8 sessions, wiping off approximately $640 billion, and is entering 'correction territory'.

## Regime / Cycle Analysis
Michael Burry's warning of a $4 trillion IPO market cap, driven by companies like SpaceX, OpenAI, and Anthropic, is compared to the dot-com boom, suggesting a potential bubble. The video also highlights a divergence where Wall Street analysts are upgrading stocks (e.g., Nvidia to $500, others to $300), but the market is selling off, indicating a potential 'selling on the other side' scenario.

## Key Calls & Predictions
- Michael Burry warns that the markets could be at an inflection point due to an impending $4 trillion IPO boom, potentially leading to a crash bigger than the dot-com boom.
- Pay attention to large daily moves in hot stocks (like SanDisk's 8% swing up then down) and selling into strength after analyst upgrades, as this could signal market tops.
- Watch for the biggest transactions as an indicator of market direction.

## All Instruments Mentioned
SpaceX, OpenAI, Anthropic, Nvidia, SanDisk ($SNDK), Micron

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*Generated by FX Evolution Monitor on 2026-05-29 20:01:30*