'Big Short' investor Michael Burry hasn't covered his Tesla short
'Big Short' investor Michael Burry says he still hasn't closed the Tesla short he opened near $416 in late June — with the stock down 24% in July after the earnings miss, it's become the biggest winner among the five short positions he disclosed at once. He hasn't revealed the size of the position or the profit, but the reiteration signals one of Wall Street's best-known bears isn't backing off even as others buy the dip.
Michael Burry disclosed new short positions in five names at once via Substack on June 30 — Tesla, Nvidia, Caterpillar, the VanEck Semiconductor ETF, and Applied Materials — arguing each had rallied hard and calling it "the beginning of the end" for the chip boom.
CNBC's report centers on how the Tesla leg has performed since. Tesla's Q2 results, released after Wednesday's close, missed consensus, and shares plunged as much as 15% intraday the next trading day, extending the stock's July decline to 24% — from Burry's roughly $416.22 entry down to Thursday's $319.69 close. CNBC noted the drop makes Tesla the standout winner among the five shorts he opened together.
In a new Substack post Friday, Burry wrote that he still hasn't covered his Tesla short, adding "it gets smaller all on its own." He again declined to disclose the position size or whether any gains are realized, so the exact profit remains unknown.
Bloomberg had separately estimated that Tesla short sellers broadly pocketed about $4B in paper gains from the post-earnings plunge (see related card). Burry stands out as one of the most recognizable individual bears in that group — holding firm even as bulls like Cathie Wood's ARK bought the dip the same week.
Summaries are prepared by the Tesla Briefing editorial team and may not capture every nuance of the original reporting. You are solely responsible for your own investment decisions.