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- Michael Burry, whose bet against the housing market was made famous by “The Big Short,” revealed in a late Tuesday tweet that he is short Tesla.
- The hedge fund manager advised CEO Elon Musk to issue more shares while they sit at their “ridiculous” levels.
- “That’s not dilution. You’d be cementing permanence and untold optionality,” he added.
- Tesla dipped as much as 7.1% on Wednesday before paring losses and trading roughly 3% lower.
- Watch Tesla trade live here.