Michael Burry Shorts Tesla, Betting on a Pullback Ahead of Q2 Deliveries
Michael Burry has disclosed a new short position in Tesla (TSLA) ahead of its Q2 delivery numbers, betting the stock will retreat. Shares closed at $420.6 on June 30, up 2.13%.
Michael Burry, the investor famed for calling the 2008 financial crisis, has disclosed a new bearish bet against Tesla (TSLA) just as the EV maker gears up to report its second-quarter delivery numbers. As of the close on June 30, Tesla shares were at $420.6, up 2.13% from the prior close of $411.84.
- Burry’s Scion Asset Management built a new short position in Tesla (TSLA) during Q2.[CNBC]
- Burry also disclosed his first-ever short on Caterpillar (CAT), calling it one of the overvalued beneficiaries of the AI investment frenzy.[CNBC]
- Tesla shares hit an intraday high of $424.54 on June 30 before closing at $420.6, a 2.13% gain.[Yahoo Finance]
- Wall Street analysts are split on Tesla’s Q2 delivery expectations ahead of the data release.[Investor's Business Daily]
- Tesla is among the leaders in the recent "Magnificent Seven" rebound, but Burry’s short adds uncertainty to the upcoming earnings season.[Investor's Business Daily]
Michael Burry, the investor who famously shorted subprime mortgages before the 2008 crisis, built a new short position in Tesla (TSLA) during Q2, betting the stock will pull back ahead of the EV maker’s upcoming quarterly delivery data. As of the close on June 30, Tesla shares were at $420.6, up 2.13% from the prior close of $411.84, after hitting an intraday high of $424.54 and a low of $406.[Yahoo Finance]
Burry Bets on AI Valuation Bubble
Burry, known for his prescient bet against subprime mortgages before the 2008 financial crisis, has now set his sights on Tesla. According to CNBC, his fund Scion Asset Management built a new short position in Tesla during Q2.[CNBC] On Tuesday (June 30), Burry said he believes Caterpillar has become one of the overvalued beneficiaries of the AI investment frenzy and shorted the stock for the first time at $1,060.98. The report also noted that Burry disclosed new bearish positions on Nvidia (NVDA), Applied Materials (AMAT), and Tesla (TSLA).[CNBC]
Burry’s short comes after a volatile 2026 for Tesla shares. While Tesla is among the leaders in the recent "Magnificent Seven" rebound, Burry’s bet suggests he believes some AI-related stocks have become disconnected from fundamentals.[Investor's Business Daily]
Analysts Focus on Q2 Deliveries, Market Expectations Diverge
Tesla’s upcoming Q2 delivery numbers are the market’s main focus. Several Wall Street analysts weighed in ahead of the data, with clear divergence in delivery expectations. Some see global price cuts and capacity expansion driving delivery growth, while others warn that weak demand and intensifying competition could lead to a miss.[Investor's Business Daily]
Tesla’s rally on June 30 was partly fueled by a broader recovery in the "Magnificent Seven." Investor's Business Daily noted that Tesla is among the leaders in that rebound, but Burry’s short adds uncertainty to the upcoming earnings season.[Investor's Business Daily]
Burry’s Shorting History and Market Impact
Michael Burry, famous for successfully shorting subprime mortgages before the 2008 financial crisis, is closely watched by the market. He has previously shorted stocks like GameStop (GME) and has also held long positions in Tesla. This renewed short on Tesla is seen by some market participants as a vote of no confidence in the company’s valuation and growth prospects.[CNBC]
Despite Burry’s short, Tesla shares still gained on June 30. Yahoo Finance reported that the stock rose 2.13% to close at $420.6, after hitting an intraday high of $424.54.[Yahoo Finance] The market remains divided on Tesla’s near-term direction, with the upcoming delivery data set to be the key catalyst for the stock’s next move.
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