“He just wants to sell $TSLA”, Investor Michael Burry tweeted reasoning about the Elon Musk’s act of Selling Stocks

Fund Manager Michael Burry is once again seen tweeting about Elon Musk’s act of selling shares and claimed that the billionaires does not need cash but just want to sell shares to capitalize on the automaker’s eye-watering valuation.

He tweeted, “Let’s face it. @elonmusk borrowed against 88.3 million shares, sold all his mansions, moved to Texas, and is asking @BernieSanders whether he should sell more stock. He doesn’t need cash. He just wants to sell $TSLA.”

In response to this, Musk tweeted, “Burry is a broken clock.”

‘The Big Short’ fame investor Burry stated last week that Musk has taken various personal loans against his stocks, so maybe he is selling stocks to repay them. Moreover, last month Musk committed to sell 10% of its Tesla stocks if his followers voted ‘yes’ in the Twitter poll. So Burry claimed that his commitment can be the reason of the selling act.

Burry also highlighted the fact that Musk worked on cutting his tax bills by moving from California to Texas last year. Along with this, Musk also sold a big part of his $100 million real-estate portfolio at the same time. Barney Sanders also claimed that the billionaires may sell more stocks if the lawmakers request.

Burry also tweeted, “Just think about it,” by pointing out at the stock chart of Tesla and Elon Musk’s tweet that stock price was “too high” when the company’s valuation was even less than one-fifth of its current level.

The investor claimed that the Tesla CEO does not need cash but selling the shared to profit from the company’s stock price’s rise about twelvefold since the start of last year.