New York Michael Burry, one of the investors who became famous for predicting the epic collapse in the housing market in 2008 that was chronicled in the book and movie"The Big Short," has a new favorite stock to bet against: Tesla.
Burry's firm, Scion Asset Management, revealed in a Securities and Exchange Commission filing Monday that it held bearish put options on more than 800,000 Tesla shares, worth about $534 million, as of the end of the first quarter. Put options give investors the right to sell a stock at a specified price and are a sign that an investor thinks the stock will go down. No reason was given in the filing for why Burry thinks Tesla's stock is due for a fall.
SEC: Elon Musk officially named 'Technoking of Tesla' 03:06Musk was also recently the guest host of"Saturday Night Live." And in his spare time, he runs SpaceX as well. Needless to say, Musk is a bit stretched, which worries some investors. Burry bet against the housing bubble in the mid-2000s and profited from the eventual demise of the subprime lending market and many big financial firms in 2008.
That's gonna backfire. They just blew a conservative dog whistle.😡🌊🧹🦅
Good. Fuck Elon.
Short sell Tesla for generational wealth !! Bitcoin bitcoin btc BTC EconTwitter America investing fintwit USDollar Trending BREAKING USA FoxNews CNN MSNBC Tesla SpaceX Ford GMC Chevrolet economy taxes elon Fed boycotttesla
Actually all that's known is that he is holding puts , he could be short or long them. Nice click bait though
Good. I hate Elon Musk!
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