Lululemon Athletica, Inc. (NASDAQ:LULU) shares climbed Thursday as Wall Street digested news of activist firm Elliot Management's $1 billion stake in the athleisure clothing retailer. 

LULU stock is climbing. See the chart and price action here. 

For months, Lululemon stock was left for dead, plummeting nearly 60% from its all-time highs as it grappled with slowing U.S. growth and a “product newness” crisis. 

But the narrative shifted with the arrival of Elliott and the departure of Lulu's CEO. 

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Burry's Contrarian Foundation

Michael Burry, the legendary “Big Short” investor, was early to the party. 

Through Scion Asset Management, Burry began loading up on LULU in the second quarter of 2025, eventually doubling his position to ...