Michael Burry is Shorting Tesla Inc. (NASDAQ: TSLA) and Buying These 5 Stocks Instead
Number of Hedge Fund Holders: 34
NetApp, Inc. (NASDAQ: NTAP) is a California-based data management company that also offers cloud services. It was founded in 1992 and is placed fifth on our list of top 10 holdings of Michael Burry. The firm represents over 1.5% of the total investment portfolio of Scion Asset Management with 300,000 shares valued at over $21 million. Over the past year, the company stock has returned more than 65% to investors. The firm is one of the biggest in the world and is a decade-long member of the Fortune 500.
Michael Burry is Shorting Tesla and Buying These 10 Stocks Instead
Michael Burry, the investor who rose to fame after exploiting the 2008 financial crisis to his benefit by betting against mortgage securities a feat that later inspired a blockbuster Hollywood film named The Big Short has recently turned his attention towards Tesla, Inc. (NASDAQ: TSLA), the California-based electric vehicle maker owned by eccentric billionaire Elon Musk. Burry, through his hedge fund, Scion Asset Management, now owns a $534 million short position in Tesla, Inc. (NASDAQ: TSLA), based on the 13F data filed by Scion for the first quarter of 2021.
The stock of the EV maker has been one of the most volatile on the market in recent months, closing at over $883 in late January, an all-time high, but tanking close to a quarter in value within two months. It is now down close to 35% from the peak four months ago. The rally that took Tesla, Inc. (NASDAQ: TSLA) to the peak was a record one, as share price
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By any measure, Tesla turned in a 2020 performance that shattered expectations.
The company s stock price rallied into the stratosphere, and it minted a market cap that made it the most valuable automaker on earth, at more than $600 billion.
Could Tesla possibly have an even more successful 2021?
Yes. Here are 10 reasons.
Tesla enjoyed a massive 2020, with a stock-market run for the ages and a combination of surging sales and record levels of production. CEO Elon Musk and his company also unveiled battery innovations and started building two new factories, in Germany and Texas.