Y’all remember Michael Burry?
The guy who figured out in 2006 that the housing market would crash eventually because of the mortgage defaults and so he bet against it and made nearly $800 mn for himself and his investors 🤯
Yeah, he just bet against Tesla 😬
The guy who figured out in 2006 that the housing market would crash eventually because of the mortgage defaults and so he bet against it and made nearly $800 mn for himself and his investors 🤯
Yeah, he just bet against Tesla 😬
Burry isn’t Elon Musk’s biggest fan and has said that Tesla “overpromises and underdelivers” which led to him betting against Tesla!
He had previously bet half a billion dollars against Tesla but recently changed it to $731mn, nearly 35% of their company’s $2bn fund!
He had previously bet half a billion dollars against Tesla but recently changed it to $731mn, nearly 35% of their company’s $2bn fund!
This simply means that if Tesla stock prices dip below a certain level, he will be able to sell those stocks back to his broker for the same price he bought them for! 📈
It also means that if the price of the stock increases, he will have to pay extra and lose money! 📉
It also means that if the price of the stock increases, he will have to pay extra and lose money! 📉
Burry has also bet on Ark Innovation ETF
Since 2020, the ETF has nearly doubled its investors’ wealth but Burry believes it is not sustainable as the company has declined in growth from the previous years!
Since 2020, the ETF has nearly doubled its investors’ wealth but Burry believes it is not sustainable as the company has declined in growth from the previous years!
What do you think? Is ‘The Big Short’ going to be right about Tesla and it is an overvalued stock? 🤔
Tell us below 👇
Tell us below 👇
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