Big Short Investor Puts MASSIVE $534 Million bet AGAINST Tesla

Michael Burry the investor that timed the mortgage securities crisis perfectly during the last financial crisis has taken a very large position against Tesla Inc shares.

Burry’s investment firm, Scion Asset Management, reported in a regulatory filing on Monday that they held bearish put options on over 800,000 shares on Tesla shares on March 31. Put options give investors the right to sell shares at a specific price at a time in the future. While there is no way to know exactly when Scion entered those position against Tesla, at what price the puts are in the money and how much the firm paid for them, the figure of $534 million in their filing report seems to be derived from their filling report calculated by the total shares x share price as of March 31.

This is not the first time Burry has been short Tesla, in December 2020 Burry revealed that he was short tesla and described the automaker's share price of $570 at the time as “ridiculous”. He related the hype and blow up in shares of Tesla to the dot-com bubble. After that interview, the stock price shot up to $900 from which it has fallen to just below $580 dollars now.

Burry also managed to join the GameStop rally with a large long position recently when the short squeeze happened.

In the report, we noticed a shit in the Scion portfolio that seems to be bullish on oil stocks and pharmaceuticals. Burry and his team also bought call options put on Alphabet, CVS Health, and Facebook Stock.

In mid-march, Burry said he would stop tweeting after receiving a visit from federal regulators and in Apri deleted his tweeter altogether.