Michael Burry says he considered a bearish SpaceX trade but passed

Michael Burry said he has no position in SpaceX and decided against placing bearish options trades because he viewed them as too expensive. He made the remarks in a Substack post on Tuesday. Burry, known for predicting the U.S. housing downturn before the financial crisis, said he reviewed several putoption structures tied to SpaceX but chose not to act. He questioned the company’s valuation, which he said had reached nearly $3 trillion. In his comments, Burry described SpaceX as a business with multiple parts, including rocket launches, satellite internet and social media, and said its annual revenue is still below $20 billion. The article says his remarks add to ongoing debate about whether investors have pushed the company’s value too far after its recent IPO and share gains.