<p><strong><img src="https://static4.businessinsider.com/image/5fce5a03037cbd001861438f-2400/gettyimages-498562218.jpg" border="0" alt="Michael Burry big short" data-mce-source="Jim Spellman / Getty Images"></strong></p><bi-shortcode id="summary-shortcode" data-type="summary-shortcode" class="mceNonEditable" contenteditable="false">Summary List Placement</bi-shortcode><ul><li><strong>Michael Burry compared the Tesla boom to the dot-com and housing bubbles. </strong></li><li><strong>"The Big Short" investor has spoken to mechanics, dealers,</strong><strong> and other Tesla experts.</strong></li><li><strong>Burry is short Elon Musk's electric-vehicle company and a frequent critic.</strong></li><li><strong><strong><a href="https://www.businessinsider.com/">Visit Business Insider's homepage for more stories</a>.</strong></strong><hr></li></ul><p>The hype around <a href="https://markets.businessinsider.com/stocks/tsla-stock">Tesla</a> reminds Michael Burry of the dot-com bubble in the late 1990s, as well as the housing bubble of the mid-2000s, he said in a now-deleted tweet on Monday.</p><p>"In the SF Bay Area, $TSLA vehicles are everywhere," the investor tweeted. "Everyone I know owns 1+, though some have gone back to ICE," he said, referring to the internal combustion engines of conventional cars.</p><p>"I've talked to industry players, down to the mechanics," he continued. "Remarkably similar to 1999 and 2006."</p><p><strong data-stringify-type="bold"><em data-stringify-type="italic">Read More: </em></strong><em data-stringify-type="italic"><a href="https://www.businessinsider.com/exclusive-asset-manager-divests-exxon-stocks-climate-concerns-2021-2" target="_blank" rel="noopener noreferrer" data-stringify-link="https://www.businessinsider.com/exclusive-asset-manager-divests-exxon-stocks-climate-concerns-2021-2" data-sk="tooltip_parent">EXCLUSIVE: An asset manager overseeing nearly $100 billion divested from Exxon on concerns it is failing to move fast enough to address climate change</a></em></p><p>Burry shot to fame for his billion-dollar bet on a US housing-market crash, which was immortalized in the book and movie "The Big Short."</p><p>The Scion Asset Management boss has been a vocal critic of Tesla for several months, and <a href="https://markets.businessinsider.com/news/stocks/tesla-stock-big-short-michael-burry-elon-musk-share-issuance-2020-12-1029859345">revealed he was short</a> Elon Musk's electric-vehicle company in December.</p><p>"I live in the land of $TSLA," Burry said in another tweet on Monday. "I know what a Tesla car is. I talk to the mechanics and dealers. But being short is so much more than that."</p><p>Tesla's stock price has rocketed more than 800% since the start of 2020, lifting its market capitalization to north of $780 billion. </p><p><strong data-stringify-type="bold"><em data-stringify-type="italic">Read More:</em></strong><em data-stringify-type="italic"> </em><em data-stringify-type="italic"><a href="https://www.businessinsider.com/investing-strategy-bitcoin-etf-us-outlook-5-things-to-know-2021-2" target="_blank" rel="noopener noreferrer" data-stringify-link="https://www.businessinsider.com/investing-strategy-bitcoin-etf-us-outlook-5-things-to-know-2021-2" data-sk="tooltip_parent">Canadian regulators just approved the world's first Bitcoin ETF. Here are the 5 things investors need to know about the outlook for a US version</a></em></p><p>The striking rally is similar to past bubbles in internet stocks and housing, Burry tweeted last month as well.</p><p>"Saw this same thesis many times while partying in 1999," he said about the idea that Tesla's lofty stock price is self-fulfilling because the business can issue shares to fund its growth.</p><p>"My last Big Short got bigger and Bigger and BIGGER too," he said in <a href="https://markets.businessinsider.com/news/stocks/big-short-michael-burry-predicts-tesla-stock-price-housing-bubble-2021-1-1029943006">another tweet</a>. "Enjoy it while it lasts."</p><p>The Scion chief has slammed Tesla's sky-high valuation, paltry sales, minimal profits, and massive market capitalization relative to other automakers.</p><p><strong data-stringify-type="bold"><em data-stringify-type="italic">Read More: </em></strong><em data-stringify-type="italic"><a href="https://www.businessinsider.com/stock-picks-highest-short-interest-retail-squeeze-targets-goldman-sachs-2021-2" target="_blank" rel="noopener noreferrer" data-stringify-link="https://www.businessinsider.com/stock-picks-highest-short-interest-retail-squeeze-targets-goldman-sachs-2021-2" data-sk="tooltip_parent">GOLDMAN SACHS: These 40 heavily shorted stocks could be the next GameStop if retail traders target themand the group has already nearly doubled over the past 3 months</a></em></p><p>Burry has also flagged the company's "inferior" battery technology and reports of its cars catching fire in other tweets.</p><p>"What do $TSLA, $BTC, option gamma traders have in common' Rhymes with Rubble," he tweeted in November.</p><p>Tesla didn't immediately respond to a request for comment from Insider.</p><p><a href="https://markets.businessinsider.com/news/stocks/big-short-michael-burry-tesla-boom-internet-stocks-housing-bubbles-2021-2-1030086573#comments">Join the conversation about this story »</a></p> <p>NOW WATCH: <a href="https://www.businessinsider.com/worlds-most-expensive-liquid-thoroughbred-horse-semen-2020-3">Why thoroughbred horse semen is the world's most expensive liquid</a></p>
Click here to read full news..
