Michael Burry, the investor whose successful bets against the US housing market were depicted in “The Big Short,” called Tesla “ridiculously overvalued” but said he is not betting against the stock.
“I am not short,” Burry wrote on X Wednesday in response to a user asking if he would bet against Tesla.
Hours earlier, the Scion Asset Management founder shared a Bloomberg report about Wall Street analysts estimating Tesla will post a 15% year-over-year decline in fourth-quarter deliveries when it reports figures later this week.
“Tesla is ridiculously overvalued,” Burry wrote when sharing the report.
Tesla shares fell 0.2% in premarket trading Wednesday. The stock reached an all-time high of $498.82 on December 22 and has declined about 9% since.
Burry is closing Scion Asset Management, he told investors in a letter dated October 27.
He said he would liquidate the funds and return capital “but for a small audit/tax holdback” by the end of the year, according to a person familiar with the matter who confirmed the contents of the letter.
Tesla on Monday published a company-compiled consensus showing analysts expect 1.6 million vehicle deliveries in 2025, down roughly 8% from 2024.
The figure would put the company on track for its second consecutive annual sales decline.
The official numbers will be released on Friday, January 2.
Musk on Gates Short
Tesla CEO Elon Musk said earlier this month that a short position Bill Gates allegedly holds against the company may have cost the Microsoft co-founder “over $10 billion by now.”
“Bill Gates placed a massive short bet against Tesla of ~1% of our total shares, which might have cost him over $10B by now,” Musk wrote on X after shares reached their all-time high, pushing Tesla’s market capitalization to nearly $1.7 trillion.
Whether Gates currently maintains the position remains unclear. The billionaire philanthropist has not publicly confirmed or denied holding the bet since April 2022, when leaked text messages showed him acknowledging it to Musk.
