According to CNBC, Michael Burry, who became famous for successfully shorting the U.S. subprime mortgage market, stated that he currently holds neither a long nor a short position in SpaceX. The main reason is not based on the company's fundamentals, but rather that the cost of shorting is currently at an unbearably high level.
According to CNBC, Michael Burry, who became famous for successfully shorting the U.S. subprime mortgage market, stated that he currently holds neither a long nor a short position in SpaceX. The main reason is not based on the company's fundamentals, but rather that the cost of shorting is currently at an unbearably high level.
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Burry wrote on the Substack platform, pointing out that SpaceX is essentially "a small aerospace company, a niche telecom operator, a social media company plagued with issues, and a 'CoreWeave-light' computing power service provider." Its annual revenue is less than $20 billion, yet it carries a market valuation of about $3 trillion. These remarks came as SpaceX’s stock price continued to soar after going public. On its first day of listing, the company surged by 20%, with a cumulative increase of over 25% in the following week. Its market capitalization not only surpassed Berkshire Hathaway but also ranked among the top five globally, behind only NVIDIA, Google, Apple, and Microsoft.
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