Genius Behind "The Big Short" Reveals Massive Bet Against Tesla
Michael Burry, who famously profited from a contrarian bet against mortgage securities ahead of the financial crisis in the late 2000s, is attempting to do the same with Tesla Motors (NASDAQ: TSLA) stock. According to a regulatory filing cited in various media, Burry held put contracts for 800,100 shares of the company as of March 31. The market value of those 800,100 shares was just under $535 million at the time.
A put is the right to sell shares of a company's stock at a particular level called the strike price, by a specific date. The regulatory filing did not reveal the stock price set in Burry's puts, nor their expiration date.
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Source Fool.com
