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Burry of ‘Big Short’ Fame Places Big Bet Against Musk, Tesla

Updated on
  • His firm Scion reported put options on 800,100 Tesla shares
  • Tesla has plunged 35% since closing at a record on Jan. 26
Burry of ‘Big Short’ Fame Bets Big Against Musk, Tesla

Michael Burry, the investor who rose to fame for making billions off bets against mortgage securities during the financial crisis, has placed a sizable wager against Elon Musk’s Tesla Inc.

Burry’s Scion Asset Management owned bearish puts against 800,100 shares of the electric-car maker as of March 31, according to a regulatory filing Monday. The puts give Scion the right to sell Tesla shares on or before an unidentified date in the future.