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The famed investor said last month that he is no longer betting against Tesla and his position in the electric vehicle maker was only a trade, it was reported, citing CNBC.
THE BIG SHORT MICHAEL BURRY MOVIE
Musk has recently committed to selling 10% of his Tesla stock, following the outcome of a Twitter poll.īurry, who was made famous in “The Big Short” movie in 2015, said in December last year that he was shorting Tesla stock and was skeptical of the company’s lofty valuations. The disappearance of Price Discovery to cause an ETF Crash Burry believes that in a move that parallels the slow disappearance of price discovery from credit markets by Central Banks and Basel III, Passive investing is slowly taking the cap off price discovery in the. Certain individualslike main characters Steve Eisman (aka Mark Baum in the movie, played by Steve Carrell) and Michael Burry (played by Christian Bale) in the 2015 Oscar-nominated film The Big Shortrealized that tons of mortgages were being made to people who would never be able to pay them back. Why It Matters: Burry suggested last week that Musk might be looking to sell some of his holdings in Tesla to cover his personal debts, rather than to solve world hunger or because he faced a huge $15 billion tax bill. Investor Michael Burry of 'The Big Short' fame said he was no longer betting against Tesla Inc and that his position was just a trade, CNBC reported on Friday. Michael Burry foresaw this as a bubble and warned that the inflow could experience a reversal in time and cause a big crash. See Also: Elon Musk Insults Bernie Sanders On Twitter: The Dis You Need To Know About The 'Big Short' investors fiery comments led Musk to call him a 'broken clock' this week. He just wants to sell $TSLA,” Burry said in the tweet, apparently hinting that Musk wanted to profit from Tesla’s recent stock surge.īurry also reportedly tweeted a chart of Tesla’s stock price, with an arrow pointing to when Musk said that the electric vehicle maker’s stock was trading “too high.” Michael Burry has ridiculed Tesla s valuation and suggested Elon Musk knows the stock is overpriced. Burry noted in a tweet earlier on Monday that Musk borrowed against 88.3 million shares, moved to Texas after selling all his mansions in California, and was asking Senator Bernie Sanders whether he should sell more stock, according to a report by Bloomberg.