Tesla TSLA,
Short sellers, caught on the wrong end of a $ 38 billion hit in 2020, suffered “the biggest annual mark-to-market loss” S3 Partners’ Ihor Dusaniwsky has ever seen.
One of those underwater in that trade: Michael Burry.
The investor, made famous in the book and movie “The Big Short,” for his forward-looking bet against the US housing market, announced in early December that he was shorting Tesla at “ridiculous” levels.
It’s been ugly for Burry and the rest of the shorts ever since, with Tesla stock up more than 44% in the last month. In the past year, the stock has exploded with a gain of 820%, making CEO Elon Musk the richest man in the world. On Friday, Tesla extended its record winning streak to 11 sessions in a row, closing on another record.
Burry doesn’t seem to budge, however.
“Well, my last Big Short got bigger and bigger and BIGGER too,” Burry said in a now-deleted tweet on Thursday. “Enjoy it while it lasts.”
And enjoy it, because on that day alone, the share rose by 8%.