Tesla TSLA,
short sellers, caught on the wrong side of a $ 38 billion hit in 2020, suffered ‘the biggest annual loss of market-to-market’ Ihor Dusaniwsky of S3 Partners has ever seen.
One of those who was underwater: Michael Burry.
The investor, who became famous in the book and film ‘The Big Short’ for his prediction against the US housing market, announced in early December that he was shorting Tesla on a ‘ridiculous’ level.
Since then, it has been ugly for Burry and the rest of the shorts, with Tesla shares rising more than 44% over the past month. Over the past year, the stock has exploded for a profit of 820%, making CEO Elon Musk the richest man in the world. On Friday, Tesla extended its record-breaking streak to 11 consecutive sessions and closed on another record.
Burry, however, does not appear to be budding.
“Well, my last Big Short has gotten bigger and BIGGER too,” Burry said in a now-removed tweet. “Enjoy it as long as it lasts.”
And enjoy what they did, with the stock rising 8% on that day alone.