Michael Burry said he’s not betting against Tesla right now, but he sees a compelling reason to short Elon Musk’s electric-vehicle company.
“If I am tweeting this you can bet I am not short it,” he said in a now-deleted tweet on Tuesday. “But I should be.”
As evidence of the automaker’s shady outlook, Burry highlighted a CNBC story about a Tesla Megapack battery catching fire at a PG&E energy-storage facility in California on Tuesday.
The fund manager of “The Big Short” fame has repeatedly aimed at Tesla during the pandemic. He revealed in December 2020 that he was short the company and labeled its stock price “ridiculous.”
“Well, my last Big Short got bigger and bigger and BIGGER too,” Burry tweeted in January 2021, after Tesla stock surged. “Enjoy it while it lasts.”
Burry has also cautioned that Tesla stock could shed 90%, criticized the firm’s meager sales and profits relative to its peers, and described its battery technology as “inferior” based on multiple reports of Tesla vehicles catching fire. In April of this year, he cautioned that “the competition is coming” for Tesla.
