Michael Barry attends the New York premiere of ‘The Big Short’ at the Ziegfeld Theater on November 23, 2015 in New York City.
Jim Spellman | Wire Images | Getty Images
Prominent investor Michael Burry denied short selling on Wednesday. teslashares rose after criticizing the EV maker as “ridiculously overvalued.”
In a social media post about
Berry, who rose to fame by brilliantly predicting the collapse of the U.S. housing market that led to the 2008 global financial crisis, made his position clear in another post, calling Tesla “ridiculously overvalued.”
The “Big Short” investor gave a similar assessment of Tesla’s stock valuation to subscribers of his new paid Substack newsletter earlier this month.
Berry recently made headlines for his short bets on technology. He said some of the largest U.S. companies are using aggressive accounting practices to inflate expected profits from the AI boom.
Berry’s latest comments about Tesla come shortly after the company took the unusual step of releasing sales forecasts that appear to show lower-than-expected vehicle deliveries.
Tesla on Monday averaged a forecast of 1.6 million vehicle deliveries in 2025, down about 8% from 2024, putting the company’s annual car sales on track for a second consecutive year of decline.
Tesla has endured a roller coaster ride this year. The company’s stock recently hit an all-time high of $489.88, but the stock tumbled in the first quarter due to intense competition, particularly from Chinese EV makers, and reputational damage from Mr. Musk’s inflammatory political comments.
Tesla stock fell slightly in premarket trading Wednesday. The company’s stock price rose more than 12.5% in 2025.
—CNBC’s Yun Li contributed to this report.
