'Big Short' Burry just bet half a billion dollars against Tesla | Editorji
editorji
/Assets/images/logo/Punchline_v2.png
download editorji appgoogle apple
  1. home
  2. > Business
  3. > 'Big Short' Burry just bet half a billion dollars against Tesla
prev icon/Assets/images/svg/play_white.svgnext button of playermute button of playermaximize icon
mute icontap to unmute
video play icon
00:00/00:00
prev iconplay paus iconnext iconmute iconmaximize icon
close_white icon

'Big Short' Burry just bet half a billion dollars against Tesla

May 18, 2021 11:18 IST | By Editorji News Desk

Michael Burry , popularly called the "Big Short Burry" has placed a $534 million bet against Tesla shares as per U.S. regulatory filings. Burry was one of the first investors to call and profit from the subprime mortgage crisis in 2008 which is how he got his nickname on Wall Street.

Elon Musk backed Tesla was down over 4% in Monday's trade, and is down over 20% in just the month of May. The EV maker has disappointed stockholders as Tesla's stock price has slumped over 30% from January high of $900.

Michael Burry flagged off worries with Tesla's dependence of credits from the govt to keep profitability going. Tesla has generated over $1.5 bn from regulatory energy credits which enabled high enough profits for inclusion in S&P500.

'Big Short' Burry just bet half a billion dollars against Tesla

1/3

'Big Short' Burry just bet half a billion dollars against Tesla

Win for Indian banks led by SBI: UK High Court declares Vijay Mallya bankrupt

2/3

Win for Indian banks led by SBI: UK High Court declares Vijay Mallya bankrupt

Joblessness rises: Data shows unemployment rises in cities and villages

3/3

Joblessness rises: Data shows unemployment rises in cities and villages

Markets