Investor Michael Burry—of Big Short fame—considered antagonizing the richest man on the planet over the IPO of his latest company.
Burry said he had been tempted to bet against ***** eX, the rocket company owned by Tesla CEO Elon Musk.
SpaceX went public last week, and its stock has already gained more than 25%. The company's valuation since then has soared close to $3 trillion, even overtaking Jeff Bezos's Amazon at one point.
But for every optimist backing Musk's bid to establish a human colony on Mars is an investor on earth wondering if the plan will ever take off. Burry, in typical form, was open in asking that question.
In a Substack post, the ***** yst best known for predicting the housing crash before the 2008 financial crisis said he had reviewed a number of trading options for betting against Musk's company.
"I am not involved with ***** eX now. Neither short nor, ahem, long," Burry wrote Tuesday, per CNBC. Put options on the shorter end—expiring in June 2027, for example—cost roughly $13 with the stock trading at around $212, Burry reported. A put ending December 2026 was priced at around $6.75, he added.
Burry was "tempted by that one. But no thank you," he wrote of the short option.
Burry said he had been tempted to bet against ***** eX, the rocket company owned by Tesla CEO Elon Musk.
SpaceX went public last week, and its stock has already gained more than 25%. The company's valuation since then has soared close to $3 trillion, even overtaking Jeff Bezos's Amazon at one point.
But for every optimist backing Musk's bid to establish a human colony on Mars is an investor on earth wondering if the plan will ever take off. Burry, in typical form, was open in asking that question.
In a Substack post, the ***** yst best known for predicting the housing crash before the 2008 financial crisis said he had reviewed a number of trading options for betting against Musk's company.
"I am not involved with ***** eX now. Neither short nor, ahem, long," Burry wrote Tuesday, per CNBC. Put options on the shorter end—expiring in June 2027, for example—cost roughly $13 with the stock trading at around $212, Burry reported. A put ending December 2026 was priced at around $6.75, he added.
Burry was "tempted by that one. But no thank you," he wrote of the short option.
4 months ago
