"The Big Short" turns its focus to Tesla, Inc. (TSLA.US)! Directly pointing out the "absurdly high valuation", calling out Musk's sky-high salary diluting equity.

Prominent short-seller Michael Burry recently went after another overvalued stock: Tesla, Inc. (TSLA.US). In a post last Sunday, he called the electric car maker "absurdly overvalued." He criticized the "pathetic math" based on stock compensation, using Tesla, Inc. as an example. He stated that Tesla, Inc. dilutes its shares by 3.6% each year through issuing new stock and does not engage in stock buybacks. Burry rose to fame for shorting the real estate market during the 2008 financial crisis. He said, "Tesla, Inc.'s market value is now absurdly overvalued, and this situation has been going on for quite a long time." He added that CEO Elon Musk's $100 billion compensation package will further dilute Tesla, Inc.'s stock. Last month, Tesla, Inc. shareholders approved this controversial compensation plan at the shareholder meeting. The car manufacturer is making deeper inroads into other tech areas, and Burry also made sarcastic remarks about Tesla, Inc.'s various strategic shifts. He wrote, "By the way, Elon's rabid followers have gone all in on electric cars until competitors emerged; then they went all in on autonomous driving until competitors emerged; and now they're all in on Siasun Robot&Automation until competitors emerge." Burry did not disclose any holdings in Tesla, Inc. stock. Last month, his fund revealed significant short positions in NVIDIA Corporation (NVDA.US) and Palantir (PLTR.US) stocks by purchasing put options, which investors typically do when betting on stock declines. Burry later closed his hedge fund Scion Asset Management and started expressing his views on the Substack platform. Prominent short-seller Jim Chanos expressed concern about NVIDIA Corporation using supplier financing to boost sales, a practice that Burry has also criticized. Chanos and Burry have both held short positions in Tesla, Inc. at some point in the past. Musk has previously criticized Tesla, Inc. stock short-sellers, and recently warned Bill Gates to "shorten" his short positions as soon as possible. Despite Burry's warning of Tesla, Inc.'s overvaluation, Wall Street is increasingly bullish. Last week, Melius Research listed the electric car maker as a "must-have" stock, mainly due to Tesla, Inc.'s efforts in autonomous driving and CEO Elon Musk's discussions on its chip manufacturing progress. The week before, Stifel raised its target price and reaffirmed its "buy" rating on Tesla, Inc. due to its advantages in Full Self-Driving (FSD) and Siasun Robot&Automation taxi services. Recently, Tesla, Inc. released November sales data in major European markets, showing a further downturn in sales. In France, new car sales in November plummeted by 58%, just slightly below 1,600 vehicles. In Denmark, Tesla, Inc. sales dropped by 49%; in Sweden, it sharply decreased by 59%, showing a sluggish trend for multiple quarters. At the same time, Norway stands out as a rare exception, with sales surpassing any previous annual sales record for any automaker, achieving a new record-high sales for the year. Tesla, Inc. saw a whopping 175% increase in registrations in November in Norway, partly due to uncertainty surrounding future electric vehicle tax incentive policies, prompting consumers to purchase vehicles earlier.