Legendary short seller Michael Burry, famously depicted in "The Big Short," revealed on June 30, 2026, that he has shorted Tesla (TSLA) stock at $416.22. This move came after Tesla’s shares saw an 11% weekly climb to $420.60, a level that analysts from Bloomberg also noted in connection to Elon Musk's previous $420 tweet. Burry expressed satisfaction that the stock had returned to this level, stating, "And finally I shorted Tesla (TSLA) at 416.22. Happy it jumped back to this level."
Burry's bearish bet reflects his long-held concerns about Tesla's valuation. While he did not disclose the scale of his short position, his decision to wait for the stock to rebound to $416.22 suggests a calculated move, as he apparently held off from taking a position when the stock was lower, such as a June 26 closing price of $379.71 or June 29’s $411.84. This timing suggests potential uncertainty regarding the immediate depth of the anticipated correction.
The broader sentiment around Tesla stock has been largely bearish in recent months, despite the recent 11% increase. Year-to-date, Tesla shares remain 3.99% in the red. Factors contributing to this deteriorating investor confidence include dwindling electric vehicle (EV) sales and persistent delays in the rollout of the 'Robotaxi' and Full Self-Driving (FSD) systems. Additionally, the capital-intensive and recent initial public offering (IPO) of SpaceX, another Elon Musk company, is also cited as a contributing factor to the pressure on Tesla's stock performance. By the morning of July 30, 2026, the company's stock was already down 0.67% to $417.79 in pre-market trading, seemingly validating Burry's assessment.
