Michael Burry Says He Holds No Long or Short Position in SpaceX Due to High Shorting Costs

Michael Burry said he currently has neither a long position nor a short position in SpaceX, citing what he described as prohibitively high shorting costs rather than a judgment about the company’s fundamentals. According to Odaily, Burry wrote that he views SpaceX as “a small aerospace company, a niche telecom operator, a troubled social media company, and a CoreWeave-light computing services provider.” Burry added that SpaceX has annual revenue of less than $20 billion and a market valuation of about $3 trillion. His comments came as SpaceX shares continued to rise after its listing. The stock gained 20% on its first trading day and rose more than 25% over the following week. Odaily reported that SpaceX’s market capitalization surpassed Berkshire Hathaway and entered the top five globally, behind Nvidia, Google, Apple, and Microsoft.