‘Big Short’ hedge fund manager Michael Burry takes aim at Elon Musk

by

‘Big Short’ hedge fund manager shorts Tesla: Michael Burry makes a £376m bet as he takes aim at Elon Musk

By Daily Mail City & Finance Reporter

Published: | Updated:


Hedge fund manager Michael Burry has made a £376m bet against Tesla’s stock price

The hedge fund manager who featured in the blockbuster film the Big Short has taken aim at Elon Musk.

Michael Burry, famous for shorting the sub-prime mortgage market before the 2008 crisis, has made a £376million bet against Tesla’s stock price – with ‘put’ options on 800,100 shares in the electric car maker.

This allows an investor to sell shares at a certain price in the future.  They become more valuable as a share price decreases. 

Burry tweeted in December that his family office, Scion Asset Management, was shorting Tesla, whose shares hit an all-time high of $883.09 in January, but have since fallen 35 per cent.

Burry was played by Christian Bale in the Oscar-winning film The Big Short about the crisis, which also features Brad Pitt and Margot Robbie.

Steve Sosnick, analyst at Interactive Brokers, said: ‘Burry is expressing the type of scepticism that many people have on Tesla.’

Some links in this article may be affiliate links. If you click on them we may earn a small commission. That helps us fund This Is Money, and keep it free to use. We do not write articles to promote products. We do not allow any commercial relationship to affect our editorial independence.