If you haven’t heard of Michael Burry, you might know of him. He became famous for his big bets against the housing market, as well as being portrayed by Christian Bale in the movie The Big Short. He recently revealed an interesting position. Through options, he is betting on Cathie Wood‘s flagship ARK Innovation ETF (NYSEMKT: ARKK) to drop.
Tesla is up more than 1,000% in the last three years. That’s despite revenue only increasing 138%.
There’s no doubt that the company has quieted most of the doubters from its early days. It even surpassed 200,000 vehicles delivered in the most recent quarter — which was a first. It sounds like a lot, but context is important. The company still only claims 1.5% market share…