“Big Short” investor Michael Burry predicts Tesla stock will collapse like the housing bubble

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  • 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.

markets.businessinsider.com/news/stocks/big-short-michael-burry-predicts-tesla-stock-price-housing-bubble-2021-1-1029943006

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