Burry says the rally may be near a major top and possible 1987 type fall.
He holds shorts on SOXX Micron Nvidia Caterpillar Palantir Tesla and Applied Materials.
Most of those shorts stay profitable except the Nvidia one.
SpaceX Q2 revenue hit 7.8 billion dollars up 92 percent year over year.
Capex hit 18.4 billion dollars or 235 percent of revenue mostly AI spend.
Operating cash flow positive at 3.5 billion but free cash flow deeply negative.
Stock dropped after the beat as 911.5 million shares unlock on August 6.
That unlock more than doubles the current public float.
Michael Burry bets against rally: ‘We are near a major top, and possible a 1987-type fall’ – CNBC
Michael Burry of “The Big Short” fame is sticking with his bearish wagers even as the S&P 500 surges to a record high, warning that the rally could still end in a sharp sell-off reminiscent of the 1987 stock-market crash.
“I continue to believe it is possible we are near a major top, and possible a 1987-type fall, but the S&P 500 making new highs likely will bring new money into the market,” Burry said in a Tuesday Substack post.
SpaceX earnings cash flow statement
byu/Equivalent_Net_3752 inwallstreetbets
SpaceX’s revenue rises as its once-soaring stock price drifts back to Earth
Tomorrow 911.5M shares unlock.