- Michael Burry, whose lucrative wager on the US housing bubble’s collapse in 2007 was captured in “The Big Short,” said he expected Tesla stock to implode in a similar fashion.
- “Well, my last Big Short got bigger and bigger and BIGGER too,” the Scion Asset Management boss tweeted on Thursday, adding, “Enjoy it while it lasts.”
- Burry highlighted that Tesla gained about $60 billion in market capitalization on Thursday, the equivalent of General Motors’ entire market value.
- The Scion chief disclosed in December that he was shorting Tesla, slamming its stock price as “ridiculous.”
Michael Burry, the investor whose billion-dollar bet against the US housing market was immortalized in Michael Lewis’ book “The Big Short,” predicted that Tesla stock would suffer a similar downfall.
“Well, my last Big Short got bigger and bigger and BIGGER too,” Burry tweeted on Thursday.
Tesla’s stock price jumped 8% that day alone, adding $60 billion to its market capitalization – equivalent to “1 GM, 2 Hersheys, 3 Etsys, 4 Dominos, 10 Vornados,” he continued.
“Enjoy it while it lasts,” the Scion Asset Management founder and boss added.