The short-sellers caught on the false end of the 38 38 billion hit in 2020 have suffered “the biggest annual mark-to-market loss ever seen by S3 Partners’ Ehor Dusanovsky.”
One of the underwater in that trade: Michael Burri.
U.S. The investor, best known for his earlier bets on the housing market in the book and film “The Big Short,” announced in early December that he was downgrading Tesla to “ridiculous” levels.
That’s unsurprising for Bury and the rest of the shorts afterwards, with Tesla’s stock up more than 44% in the past month. Over the past year, the stock has exploded with an 820% increase, making CEO Elon Musk the richest man in the world. On Friday, Tesla extended its record-winning length to 11 consecutive sessions, closing on a second record.
Burial, however, does not seem to be emerging.
“Well, my last big short got bigger and bigger and bigger too,” Buri said in a now-defunct tweet on Thursday. “It lasts as long as it’s fun.”
And enjoy that they got the stock ral% on the same day.