Michael Burry's Short Positions Pay Off as Tesla and Caterpillar Drop
Michael Burry, known for his housing market shorting depicted in 'The Big Short,' has seen several of his bearish bets pay off following a July selloff. He disclosed on June 30 that he had taken short positions against stocks like Tesla, Caterpillar, and the VanEck Semiconductor ETF after they experienced strong rallies. Tesla shares fell nearly 24% in July alone to $319.69 from his entry price of $416.22, while Caterpillar dropped about 16%. The semiconductor sector also saw declines for most names he targeted. Burry's short positions on the VanEck Semiconductor ETF and Applied Materials have moved favorably, though Nvidia has risen slightly against his bet. Four out of five disclosed trades are in Burry’s favor as broader market enthusiasm around AI and infrastructure spending cools after a strong first-half rally. It remains unclear if he still holds these positions.
Tickers: $AMAT $CAT $NVDA $SMH $TSLA
Topics: Caterpillar Michael Burry semiconductors short selling stock market Tesla