5 Stocks Michael Burry Is Selling

1. Tesla, Inc. (NASDAQ: TSLA)

Number of Hedge Fund Holders: 62     

Tesla, Inc. (NASDAQ: TSLA) is ranked first on our list of 10 stocks Michael Burry is selling. The company’s shares have offered investors returns exceeding 180% over the course of the past twelve months. The company makes and sells electric vehicles and clean energy products. Burry has a short position on the stock, believing it is overvalued and facing increased competition. However, on July 2, the company announced that it had produced more than 206,000 vehicles in the second quarter of 2021, delivering more than 201,000 of them that included 1,890 Model S/X vehicles and 199,360 Model 3/Y vehicles, largely meeting market expectations in this regard.

On July 2, investment advisory Wedbush maintained an Outperform rating on Tesla, Inc. (NASDAQ: TSLA) stock with a 12-month price target of $1,000, backing the electric vehicle maker to deliver close to 900,000 vehicles this fiscal year with a strong second half. The company, despite being one of the most shorted stocks in the world – high profile investors like David Einhorn and Jim Chanos have also previously revealed big shorts on the firm  – has a track record of beating bear predictions and trumping big finance. 

Out of the hedge funds being tracked by Insider Monkey, Chicago-based investment firm Citadel Investment Group is a leading shareholder in Tesla, Inc. (NASDAQ: TSLA) with 24.4 million shares worth more than $16 billion.  

Here is what Baron Partners Fund has to say about Tesla, Inc. (NASDAQ: TSLA) in its Q1 2021 investor letter:

“Tesla, Inc. designs, manufactures, and sells fully electric vehicles, solar products, energy storage solutions, and battery cells. The stock fell during the quarter as a result of general market dynamics and a potential production slowdown due to parts shortages. A refreshed S/X and China Model Y ramp could also have a negative impact on margins in early 2021. We anticipate strong growth and improved margins driven by new production capacity, manufacturing efficiencies, localization of its manufacturing and supply chain, and maturation of Tesla’s full self-driving technology.” 

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