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Michael Burry Shorting Tesla as Valuation Ridiculously Overestimated
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Prestigious American investor "The Big Short" Michael Burry stated that he is shorting Tesla (TSLA.US), claiming that the company's current valuation is ridiculously overestimated and this situation has last for a long time. It is estimated that Tesla dilutes shareholders by approximately 3.6% annually, with no share buybacks, while CEO Elon Musk's compensation plan will continue to dilute shareholders' equity, Burry said. This is not the first time Burry has been bearish on Tesla. As early as May 2021, his hedge fund company, Scion Asset Management, had disclosed a large-scale short position on Tesla through options. AASTOCKS Financial News Website: www.aastocks.com |
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