Michael Burry is Betting Against Cathie Wood’s Fund, Tesla and Selling These 2 Other Stocks

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1. Tesla, Inc. (NASDAQ: TSLA) PUT

Number of Hedge Fund Holders: 60   

Tesla, Inc. (NASDAQ: TSLA) is ranked first on our list of stocks that Michael Burry is betting against and selling. The company is in the electric vehicle and clean energy business. It operates from California. According to the latest filings, Scion Asset Management had PUT options against more than 1 million shares in Tesla, Inc. (NASDAQ: TSLA) at the end of June 2021. These represent over 35% of the portfolio and are valued at more than $731 million. 

On August 9, investment advisory Jefferies upgraded Tesla, Inc. (NASDAQ: TSLA) stock to Buy from Hold and raised the price target to $850 from $700. Philippe Houchois, an analyst at the firm, issued the ratings update.

At the end of the second quarter of 2021, 60 hedge funds in the database of Insider Monkey held stakes worth $9 billion in Tesla, Inc. (NASDAQ: TSLA), down from 62 in the preceding quarter worth $10 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.” 

You can also take a peek at 10 Cheap Dividend Kings with Over 2% Yield and 12 Best Semiconductor Stocks To Invest In Right Now.

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