The Big Short Guy Wishes He Was Short Tesla

Seeking Alpha2022-09-22

Scion Asset Management founder Michael Burry weighed in on Tesla (NASDAQ:TSLA) once again after one of the company's megapack batteries was involved in a fire that ended up shutting a stretch of a well-known California highway for a few hours.

Astrid Stawiarz

"If I am tweeting this you can bet I am not short it. But I should be," tweeted Burry.

Burry's Scion Asset Management exited its short position in Tesla (TSLA) sometime during Q3 of 2021 after having put option representing more than 1M shares. Notably, Scion Asset also sold out of all its U.S. stock holdings during Q2 of 2022. The most recent bets made by the firm will be disclosed around November 15.

Michael Burry is well-known for predicting and profiting from the mortgage crisis and financial collapse between 2007 and 2010.

Shares of Tesla fell 2.57% Wednesday to $300.8 vs. the 52-week trading range of $206.86 to $414.50. TSLA has moved back above its 50-day, 100-day, and 200-day moving averages.

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Comments

  • Bel8680
    2022-09-22
    Bel8680
    Ok
  • EY12
    2022-09-22
    EY12
    Like
  • Hksg
    2022-09-22
    Hksg
    he is right sometimes
  • pjetan
    2022-09-22
    pjetan
    🙏🏻
  • Tanyl
    2022-09-22
    Tanyl
    Maybe he is right due to chip shortage
  • TSY123
    2022-09-22
    TSY123
    Ok
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