In December 2025, renowned investor and "The Big Short" figure Michael Burry responded on social media platform X to a question about whether he had shorted Tesla, stating, "I have not shorted it." However, he had previously published an article on the Substack platform, asserting that Tesla was "overvalued." He pointed out that its stock-based compensation plan dilutes shareholders' equity by approximately 3.6% annually, with no repurchases to offset it, and that Elon Musk's $1 trillion compensation package would exacerbate equity dilution.
