Part 2/11:
Michael Berry, a well-known investor who predicted the 2008 recession and profited from it, once held significant short positions against Tesla. At the end of June 2021, Berry's firm held nearly 1.1 million Tesla put options, but by the third quarter of the same year, they exited that position.
Berry's public comments in December 2020 labeled Tesla's stock price as "ridiculous," predicting a correction. Yet, if we analyze the timeline from December 2020 through mid-2021, the stock's upward trajectory proved Berry's bearish stance wrong. The investment results suggest that betting against Tesla at that point would have led to substantial losses, and his initial judgment did not age well.