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华尔街日报Michael Burry Is Not Short Tesla Stock — Despite 'Ridiculous' Valuation
Despite his long-standing reputation as a Tesla, Inc. (NASDAQ:TSLA) skeptic, Michael Burry confirmed on Wednesday that he currently holds no short position in the EV giant.
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The clarification comes amid heightened speculation as the market awaits Tesla's fourth-quarter vehicle sales figures and following a series of critiques from Burry regarding the company’s valuation.
‘Ridiculous' Valuation
Burry has not held back on his fundamental assessment, repeatedly labeling Tesla as “ridiculously overvalued.”
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His latest comments came Tuesday after the company shared consensus estimates of its fourth-quarter vehicle sales, with projected figures coming in below investor expectations.
Burry's skepticism is rooted in what he views as a decoupling of the stock price from traditional automotive and even tech-sector fundamentals.
Specifically, Burry has flagged two major concerns:
- Shareholder Dilution: He estimates that Tesla's equity-based compensation dilutes shareholders by approximately 3.6% annually, exacerbated by a lack of stock buybacks to offset the grants.
- CEO Compensation: Burry has criticized Elon Musk's massive $1 trillion performance-based pay package, arguing it prioritizes market-cap milestones over sustainable profitability for long-term investors.
Burry has also pointed to Tesla's "cult"-like following, which helps sustain its stock price.
"The Elon cult was all-in on electric cars until competition showed up, then all-in on autonomous driving until competition showed up, and now is all-in on robots — until competition shows up," Burry said in early December.
The unpredictable nature of the "Elon cult" could be one reason why Burry is not shorting Tesla stock.
Very early Wednesday morning, Burry replied "I am not short," when asked if he would short the stock at these levels.
Shifting the ‘Big Short' Elsewhere
While Tesla is a frequent target of Burry’s commentary, his actual capital is currently deployed against the broader AI boom.
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Since deregistering Scion Asset Management as a public investment adviser in late 2025 — effectively turning it into a private family office — Burry has used his Substack, "Cassandra Unchained," to disclose aggressive bearish bets elsewhere.
His primary shorts now focus on NVIDIA Corp. (NASDAQ:NVDA) and Palantir Technologies, Inc. (NASDAQ:PLTR).
Burry holds significant put options against these AI darlings, citing concerns that the hyperscalers are masking true costs by understating asset depreciation.
A Tactical Pause?
Burry's decision to stay on the sidelines of Tesla, despite his bearish opinions, might stem from the “cult-like” momentum he has acknowledged can override fundamentals for years.
Burry is an active trader and his position on Tesla stock could change. His current cautious stance serves as a reminder that being right about a valuation is not the same as being right about the timing of a trade.
TSLA Stock Price: Tesla shares have gained more than 40% over the past six months, but were down slightly at $453.03 at publication on Wednesday, according to Benzinga Pro.
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