Tesla TSLA,
short-term sellers, caught in the wrong end of a $ 38 billion hit in 2020, suffered “the biggest annual loss in the market” Ihor Dusaniwsky of S3 Partners has ever seen.
One of those underwater from this trade: Michael Burry.
The investor, who became famous in the book and in the film, “The Great Short,” for his prescriptive bet against the U.S. real estate market, announced in early December that he was short of Tesla at levels “ridiculous.”
It has since been ugly for Burry and the rest of the shorts, with Tesla shares up more than 44% last month. Over the past year, shares have exploded to a profit of 820%, making CEO Elon Musk the richest man in the world. On Friday, Tesla extended its record-breaking record to 11 straight sessions, closing in on another record.
However, Burry doesn’t seem to be on the move.
“Well, my last Big Short got bigger and bigger too,” Burry said Thursday in a now deleted tweet. “Enjoy it while it lasts.”
And enjoy it, with stocks rising 8% that day alone.