Investor Michael Burry, known for his role in “The Big Short,” has referred to Tesla Inc. and SpaceX CEO Elon Musk as a “desperately incentivized futurist.” This comment comes amidst speculation of a potential merger between Musk’s companies, including SpaceX, Tesla, and xAI.
An American Treasure
Burry described Elon Musk as “an American treasure” in a social media post, but also criticized his approach to the future, suggesting that Musk’s vision is driven by desperation. This statement was made in response to reports of a possible merger between SpaceX, Tesla, and xAI.
Elon is an American treasure but also a desperately incentivized futurist even earlier than me.
Burry has been a vocal critic of Tesla in the past, calling the company “ridiculously overvalued” and referring to its supporters as the “Elon cult.” However, he has maintained that he does not hold a short position against the company.
Potential Merger
The comments from Burry follow speculation that SpaceX may be considering a merger with Tesla. This possibility was hinted at by Musk in a post last year, where he discussed a potential “convergence” between his companies in the future.
Investor Gene Munster of Deepwater Asset Management has hailed the potential merger as a positive move, stating that Musk is “thinking big” ahead of SpaceX’s possible IPO this year. Musk first hinted at the possibility of an IPO during Tesla’s annual shareholder meeting in November last year.
Market Impact
According to recent market trends, Tesla scores well on the Momentum metric and offers a favorable price trend in the Medium and Long term. The company’s stock price slipped 3.45% to $416.56 at market close on Thursday but jumped 2.87% to $428.50 during the overnight session.
As the speculation surrounding the potential merger between SpaceX and Tesla continues to grow, investors will be closely watching the developments and their impact on the market.