Michael Burry, who became famous for predicting the 2008 property market crash, relies on stocks in Tesla will fall
The investor who was played by Christian bale in the movie The Big Short, According to an SEC filing by his company, he had put options of around $ 534 million at the end of the first quarter.
Put options allow investors to sell stocks at a certain price and indicate that they believe that the price of the asset will go down.
Chrsitian Bale in The Big Short / Image: Netflix via BI.
The actions of TeslaIn fact, they’ve made a huge leap lately as investors fear CEO Elon Musk might stick his fingers in too many pots. Musk has focused on cryptocurrencies like Bitcoin and Dogecoin rather than his electric vehicle company.
He also directs Spacex and last made his host debut on Saturday night live. While Tesla stocks are down 25% in the past month.
- See Also: Famed Investor Michael Burry Predicts Tesla Stocks To Crash Like A Housing Bubble: “Enjoy It While It Lasts”
It’s important to remember that Burry made $ 100 million personally and $ 700 million for his clients from his bet against the real estate bubble in the mid-2000s, which also came with the crash and demise of the sub-prime Many Wall Street companies’ market coincided.
Burry’s firm, Scion Asset Management, gave no reason to forecast Tesla’s recession, according to the SEC filing. But the hedge fund is bullish and bullish by other names, with call options on Facebook, Google’s parenting alphabet, and CVS.