"Burry described Tesla as "ridiculously overvalued" and brutally criticized the $1 trillion compensation package of CEO Elon Musk. He said Musk's package would dilute investors by as much as 3.6%. Burry's attack on Nvidia had little effect on the stock, which has remained in bullish territory. The share price is up 34% this year, compared to the S&P 500's advance of 17%."
"Tesla's stock is up 7% this year after a remarkably large sell-off following Musk's fallout with President Trump and Tesla car sales begining to falter. Sales remain weak in the key markets of China, the United States, and the European Union. Sales have dropped as much as 40% in some EU countries. Tesla is no longer a dominant force in China, based on market share. In the U.S., overall sales of electric vehicles (EVs) have slowed because of the end of the $7,500 federal EV tax credit."
Michael Burry, known for shorting the housing market in the Great Recession, called Tesla "ridiculously overvalued" and criticized Elon Musk's $1 trillion compensation package, saying it could dilute investors by up to 3.6%. Nvidia remained resilient after Burry's prior criticism, rising 34% year-to-date versus the S&P 500's 17% gain. Tesla shares are up 7% this year after a large sell-off. Tesla faces weak vehicle sales in China, the U.S., and the EU, with declines up to 40% in some EU countries and diminished market share in China. U.S. EV sales have slowed following the end of the $7,500 federal tax credit. Tesla's $1.43 trillion market cap rests on Musk's optimistic forecasts for self-driving, AI, and robotics, which Burry disputes.
Read at 24/7 Wall St.
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