Renowned Investor Michael Burry Discloses Short Position Against Tesla
Deep News12-02
According to reports, prominent investor Michael Burry revealed on Substack that he is shorting shares of electric vehicle manufacturer Tesla Motors. Burry, who famously predicted the 2008 housing market collapse, stated that Tesla's stock valuation is "ridiculously high."
Tesla's shares have risen 6.5% this year, with a forward price-to-earnings ratio nearing 200 based on projected profits over the next 12 months. The stock closed largely flat on Monday, with minimal movement in after-hours trading.
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