Michael Burry Calls Tesla ‘Ridiculously Overvalued’

Michael Burry called Tesla Inc. shares “ridiculously overvalued” and said shareholder dilution is set to continue after the proposed $1 trillion pay package for co-founder Elon Musk, according to a Substack post.

Burry — best known for correctly betting against the US housing market during the 2008 financial crisis — estimated that the electric-vehicle maker’s stock-based compensation dilutes shareholders by about 3.6% per year, with no buybacks to offset it, he wrote on the blog site. He didn’t respond to Bloomberg News’s request for comment.