An investor from The Big Short stated that he is not shorting Tesla, which he considers "ridiculously overvalued."

Renowned investor Michael Burry has stated that he is not shorting Tesla shares, which he recently called "ridiculously overvalued." "I'm not shorting," he wrote on social media platform X, responding to a user's question about whether he would bet against Tesla.

Tesla shares remained virtually unchanged in premarket trading ahead of the opening of the last trading session of the year. The day before, they fell by 1%.

Burry became famous after successfully predicting the collapse of the US mortgage market, which led to the global financial crisis of 2008. His story was described in the book The Big Short, which was adapted into a film of the same name. In early December, Burry criticized Tesla in his blog. He claimed that the company was diluting its shareholders' stakes by approximately 3.6% per year and was not conducting buybacks, effectively destroying shareholder value. Given the potential $1 trillion payout to Tesla CEO Elon Musk, the dilution will only increase, making the company's current market capitalization "ridiculously overvalued," Burry wrote.

Tesla shares lost 45% of their value in April (since the beginning of the year) amid investor disappointment over falling sales and Musk's political activity. However, in December, prices approached record levels and are set to end the year up more than 10%.

Tesla shares are rising despite the company's sales declining for the second consecutive year. On December 29, Tesla published Wall Street analysts' consensus forecast on its investor website for the first time in its history. The manufacturer reported that analysts expect 1.64 million cars to be delivered in 2025, which is 8% less than in the previous year.

Publishing a forecast is an unusual move for Tesla, and some investors saw it as an attempt to soften the blow ahead of a weak report, Yahoo Finance writes. At the same time, Deutsche Bank said it considers the forecast of more than 1.6 million Tesla electric vehicles to be overly optimistic.

This article was AI-translated and verified by a human editor