Tesla TSLA,
Short sellers, caught on the wrong side of hitting $ 38 billion in 2020, suffered “the biggest signal-to-market loss every year” Ihor Dusaniwsky of S3 Partners has ever seen.
One of those underwater on that trade: Michael Burry.
The investor, who was famous in the book and film, “The Big Short,” for his positive bet against the U.S. housing market, announced in early December that he was shortening Tesla at “rusty” rates.
It has been ugly for Burry and the rest of the minutes since then, with Tesla shares up more than 44% in the last month. Over the past year, the stock has exploded for a gain of 820%, making CEO Elon Musk the richest man in the world. On Friday, Tesla extended its winning streak to 11 sessions in a row, closing at another record.
But Burry doesn’t seem to be very upset.
“Well, my last Big Short grew bigger and bigger and BIGGER too,” Burry said Thursday in a tweet now deleted. “Enjoy it when it lasts.”
And they enjoyed it as they did, with the stock rising 8% on that day alone.