Estee Lauder’s (EL) retail user message count jumped 380% in the last 24 hours on Stocktwits after investor Michael Burry of Scion Asset Management reduced his stake in the beauty and cosmetics maker by 25%.

Retail sentiment on Estee Lauder remained unchanged in the ‘bearish’ territory, lowest in five months, with chatter at ‘normal’ levels, according to data from Stocktwits.

Scion Asset Management disclosed in an SEC filing on Thursday that as of June 30, the firm bought stakes in Lululemon (LULU), Bruker Corp (BRKR), Regeneron (REGN), MercadoLibre (MELI), and UnitedHealth (UNH).

In May, Michael Burry had doubled his stake to 200,000 shares in Estee Lauder, which is currently undergoing a reset under new CEO Stephane de La Faverie, who is working to grow demand for the company’s products after several quarters of slowdown in North America and China, two of its major markets. Estee Lauder remains Burry’s top buy as of June.

The investor now holds 150,000 shares of Estee Lauder valued at $12.12 million, according to a regulatory filing as of Thursday. Shares of the company traded marginally higher in Friday’s premarket trading.

Telsey Advisory Group analyst Dana Telsey said that the brokerage continues to see meaningful challenges ahead for Estee Lauder, particularly from ongoing weakness in Asia travel retail and a maturing North American beauty market. “That said, we remain encouraged by management’s strategic initiatives, which position the company for stronger growth in the longer term,” Dana Telsey said.

A user on Stocktwits noted that Estee Lauder stock should see some slowdown following Burry’s stake cut.

Estee Lauder stock has gained over 19% so far this year but has declined nearly 6% in the last 12 months.

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