Tesla TSLA,
short sellers, caught on the wrong side of a $ 38 billion scam in 2020, suffered “the biggest annual mark-to-market loss” that Ihor Dusaniwsky of S3 Partners has ever seen.
One of those who was submerged in this trade: Michael Burry.
The investor, who became famous in the book and in the film “The Big Short”, for his prescient bet against the United States real estate market, announced in early December that he was short selling Tesla at “ridiculous” levels.
It’s been ugly for Burry and the rest of the shorts since then, with Tesla’s shares rising more than 44% in the past month. Last year, the stock exploded with an 820% gain, making CEO Elon Musk the richest man in the world. On Friday, Tesla extended its record winning streak to 11 consecutive sessions, closing at another record.
Burry, however, does not appear to be moving.
“Well, my last Big Short just got bigger and bigger, too,” said Burry on Thursday in a now deleted tweet. “Enjoy it while it lasts.”
And they liked it, with the stock rising 8% just that day.