(SeaPRwire) –
By: Lucas Caldwell
[Paragraph 1] Michael Burry, the investor who called the 2008 housing crash, almost took a swing at Elon Musk’s SpaceX. He was tempted to short the rocket company after its recent IPO but walked away. Burry’s skepticism cuts through the hype—he’s not buying the $3 trillion valuation that briefly overtook Amazon. This isn’t just another take; it’s a red flag from someone who spots bubbles for a living.
[Paragraph 2] SpaceX went public last week, and its stock jumped 25% right out the gate. Burry looked at put options: a December 2026 contract cost $6.75, while a June 2027 one was $13. He admitted he was tempted by the shorter option but said no. “I am not involved with SpaceX now. Neither short nor, ahem, long,” he wrote in a Substack post Tuesday, per CNBC.
[Paragraph 3] Burry called SpaceX “fundamentally a small space company, a niche telecom, a bedeviled social media company, and a Coreweave-light.” The S-1 filing tells the story: 2025 revenue hit $18.7 billion (33% up from 2024), but losses are spiraling. Q1 2026 net loss was $4.27 billion—up from $528 million a year prior. Accumulated deficit stands at $41.3 billion.
[Paragraph 4] The IPO’s fine print is even more revealing. David Trainer from New Constructs found 78% of the $80 billion expected proceeds are already spoken for. That’s $62.8 billion going to insiders like Valor Equity Partners, Musk’s X Corp., xAI investors, and Echostar for spectrum acquisition. Retail investors get the scraps here.
[Paragraph 5] Musk doesn’t take shorts lightly. Remember his feud with Bill Gates? Gates shorted Tesla for $500 million in 2022, and Musk blew up at him. Burry knows this—Musk fights back hard against anyone betting against his companies. That might have been another reason he held off, even if the valuation makes his bubble-sense tingle.
[Paragraph 6] If SpaceX’s losses keep growing at this rate, more investors will follow Burry’s lead and test Musk’s patience by year-end.
Author bio: Lucas Caldwell, a tech opinion leader with millions of X/Twitter followers, analyzes startup valuations and market trends with unfiltered candor.
