{"id":1601,"date":"2026-06-17T12:10:00","date_gmt":"2026-06-17T12:10:00","guid":{"rendered":"https:\/\/crosscountrymovingteams.com\/?p=1601"},"modified":"2026-06-17T12:10:00","modified_gmt":"2026-06-17T12:10:00","slug":"michael-burry-is-tempted-to-short-elon-musks-spacex-but-says-its-not-enticing-enough-for-fundamentally-a-small-space-company","status":"publish","type":"post","link":"https:\/\/crosscountrymovingteams.com\/?p=1601","title":{"rendered":"Michael Burry is \u2018tempted\u2019 to short Elon Musk\u2019s SpaceX, but says it\u2019s not enticing enough for \u2018fundamentally a small space company\u2019"},"content":{"rendered":"<div>\n<p>But for every optimist backing Musk\u2019s bid to establish a human colony on Mars is an investor on Earth wondering if the plan will ever take off. Burry, in typical form, was open in asking that question. <\/p>\n<p>Read more <a href=\"https:\/\/crosscountrymovingteams.com\/?p=1599\">Exclusive: PayPal winds down venture arm as fintech giant restructures under new CEO<\/a><\/p>\n<p>In a Substack post, the analyst best known for predicting the housing crash before the 2008 financial crisis said he had reviewed a number of trading options for betting against Musk\u2019s company.<\/p>\n<div>\n<div>\n<div><\/div>\n<\/div>\n<\/div>\n<p>\u201cI am not involved with SpaceX now. Neither short nor, ahem, long,\u201d\u00a0Burry wrote Tuesday, per CNBC. Put options on the shorter end\u2014expiring in June 2027 for example\u2014cost roughly $13 with the stock trading at around $212, Burry reported. A put ending December 2026 was priced at around $6.75, he added.<\/p>\n<p>Burry was \u201ctempted by that one. But no thank you,\u201d he wrote of the short option.<\/p>\n<p>He isn\u2019t sold on the eye-watering valuation of Musk\u2019s latest venture, which he described as \u00a0\u201cfundamentally a small space company, a niche telecom, a bedeviled social media company, and a Coreweave-light.\u201d<\/p>\n<p>Investors did get a chance to peek at the company\u2019s financials ahead of its IPO in the form of\u00a0an S-1 filing, which revealed that while revenue is up, so too are losses. As <em>Fortune<\/em> previously reported, Space Exploration Technologies Corp (SpaceX) is growing at a steady clip\u2014full-year revenue of $18.7 billion in 2025 increased roughly 33% from $14.1 billion in 2024\u2014but its losses are also accelerating.<\/p>\n<div>\n<div><\/div>\n<\/div>\n<p>As of March 31, SpaceX has racked up an \u201caccumulated deficit\u201d of $41.3 billion, with a $4.27 billion net loss in Q1 of this year, compared to $528 million in the year-ago quarter.<\/p>\n<p><em>Fortune<\/em> also reported on David Trainer\u2019s analysis from research firm New Constructs, which revealed that nearly 80% of the capital expected to be generated by the IPO was spoken for. From the S-1 filing, Trainer discovered that $62.8 billion (or 78%) of the forecasted $80 billion in capital was already dedicated to insiders and vendors. Specifically, SpaceX pledged to pay more than three-quarters of the proceeds to third parties, Valor Equity Partners (a large shareholder), Musk\u00a0X\u00a0Corp., and xAI investors for repayment of debt, and Echostar for \u201cthe Spectrum Acquisition Closing.\u201d<\/p>\n<p>Read more <a href=\"https:\/\/crosscountrymovingteams.com\/?p=1597\">Pizza Hut is getting the private equity treatment in a $2.7 billion deal as its owner offloads the brand that defined 1990s dining nostalgia<\/a><\/p>\n<div>\n<div>\n<div><\/div>\n<\/div>\n<\/div>\n<h2>A bet against Musk<\/h2>\n<p>Musk is a notoriously busy man\u2014variously running EV manufacturer Tesla, launching SpaceX onto the market, helping oversee the running of social media company X, and managing a controversial stint in the Trump Administration last year\u2014but even then, he finds time to push back at those who move against him.<\/p>\n<div>\n<div><\/div>\n<\/div>\n<p>His feud with Microsoft co-founder Bill Gates is particularly well-known, and last year he revived a years-old argument with claims that Gates still held a \u201ccrazy\u201d short position against Tesla. <\/p>\n<div>\n<div><\/div>\n<\/div>\n<p>\u201cIf Gates hasn\u2019t fully closed out the crazy short position he has held against Tesla for ~8 years, he had better do so soon,\u201d said Musk in a\u00a0November post.<\/p>\n<p>The bad blood began in 2022 when Gates reportedly shorted, or bet against, Tesla\u2019s stock to the tune of $500 million, earning him a text from Musk and \u201csuper mean\u201d behavior, Gates said in a later interview with Musk biographer Walter Isaacson. At the time, Musk asked Gates if he had taken a short position\u2014which he confirmed\u2014and added he wanted to work with the Tesla CEO on philanthropy. <\/p>\n<p>Musk reportedly responded: \u201cSorry, I cannot take your philanthropy on climate change seriously when you have a massive short position against Tesla, the company doing the most to solve climate change.\u201d<\/p>\n<p>Burry may, at some point, feel compelled to bet against SpaceX\u2014but Musk hasn\u2019t taken such slights lightly in the past.<\/p>\n<p>Read more <a href=\"https:\/\/crosscountrymovingteams.com\/?p=1595\">Your raise used to go offshore. Then it went to a buyback. Now it\u2019s going to a data center<\/a><\/p>\n<div>\n<div>\n<div><\/div>\n<\/div>\n<\/div>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Michael Burry, of Big Short fame, said he was tempted but ultimately decided against a bet against Elon Musk&#8217;s SpaceX.<\/p>\n","protected":false},"author":1,"featured_media":1600,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[288],"tags":[],"class_list":["post-1601","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-michael-burry"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v27.7 - https:\/\/yoast.com\/product\/yoast-seo-wordpress\/ -->\n<title>Michael Burry is \u2018tempted\u2019 to short Elon Musk\u2019s SpaceX, but says it\u2019s not enticing enough for \u2018fundamentally a small space company\u2019 - Cross Country Moving Team<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/crosscountrymovingteams.com\/?p=1601\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Michael Burry is \u2018tempted\u2019 to short Elon Musk\u2019s SpaceX, but says it\u2019s not enticing enough for \u2018fundamentally a small space company\u2019 - 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