‘Big Short’ investor Michael Burry deletes his Twitter account after Musk’s comments
Investor Michael Burry, made famous in the 2015 film “The Big Short,” took to Twitter on Sunday to theorize why Tesla’s Elon Musk decided to sell so many Tesla shares and then deleted his Twitter account shortly. soon after.
“He doesn’t need the cash. He just wants to sell $ TSLA,” Burry tweeted, suggesting Musk doesn’t see much benefit for the action.
The specific reasoning behind Burry’s decision to delete his account was not entirely clear. Tesla and Burry’s Scion Asset Management did not immediately respond to out-of-hours emails from Fox Business. Burry has held short positions against Telsa in the past. Business Insider pointed out that he said in an interview in June that he was no longer bypassing Tesla.
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Musk has been criticized by some for being cavalier lately when it comes to his stake in the business. He recently took an online poll asking his followers if he should sell 10% of his stock in the company, then trolled Sen. Bernie Sanders, asking the Vermont Independent if he would like him to sell more. actions.
Last week, the billionaire sold around 5.1 million shares worth about $ 5.9 billion. The Associated Press reported that approximately $ 1.1 billion of the proceeds will go towards paying tax obligations for stock options that were granted in September. CNBC said it still owns around 166 million shares of the company.
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Burry pointed out that Musk moved from California to Texas and in doing so reduced his tax bill, as Business Insider noted. He also pointed out how Musk had taken personal loans against his company shares and may now have to repay those bonds.
Bloomberg reported that the investor called Musk on the social media platform. Musk responded to an article on investor comments saying, “Burry is a broken clock.”
The Associated Press contributed to this report