Michael Burry, known for his successful short bets during the 2008 financial crisis, has recently capitalized on a downturn in several high-profile stocks. In a Substack post dated June 30, he revealed short positions in Caterpillar, Nvidia, the VanEck Semiconductor ETF, Applied Materials, and Tesla, betting on their decline after substantial price increases.
His most notable success has been with Tesla, whose shares fell 14.5% after disappointing quarterly earnings, marking a total decline of about 24% since Burry shorted the stock at $416.22. Caterpillar also saw a significant drop of approximately 16% from Burry's entry point of $1,060.98.
While Burry's semiconductor sector bets have yielded mixed results, with the VanEck ETF and Applied Materials declining, Nvidia's stock has increased, defying the trend.
Overall, four out of five of Burry's disclosed trades have moved favorably for him amid a broader market correction affecting high-growth industrial and technology shares, driven by a cooling off after a strong first half of the year. However, it remains uncertain whether Burry still holds these positions, as he is known for frequently adjusting his portfolio