Why Tesla Stock Was Slipping Today

Why Tesla Stock Was Slipping Today

Shares of Tesla (NASDAQ: TSLA) were falling today after Michael Burry revealed that he had a heavy short position on the electric vehicle maker in a filing this morning. As of 3:25 p.m. EDT, Tesla was down 4.1%. Burry's hedge fund, Scion Asset Management, filed a 13-F quarterly update this morning, showing that it held 800,000 put options on Tesla, betting $534 million that the stock will fall.