(Bloomberg) — Michael Burry, the investor made famous by “The Big Short” movie, has taken aim at one of Wall Street’s hottest stars.
Burry’s Scion Asset Management owned bearish put contracts against 235,500 shares of ARK Innovation ETF (ticker ARKK) at the end of the second quarter, according to a regulatory filing Monday.
The flagship exchange-traded fund of Cathie Wood and her firm Ark Investment Management has lured billions in the past year after her thematic tech-focused bets trounced the market in 2020. Wood and Ark have struggled to maintain their momentum this year, amid concerns about lofty valuations and accelerating inflation.
Burry was already indirectly betting against Wood via a huge position against Tesla Inc., which has long been one of Ark’s top picks and is the biggest holding in ARKK. The filing shows that Burry increased his bearish wagers against the electric-vehicle maker.
Scion had puts on 1,075,500 Tesla shares, up from 800,100 shares in the first quarter.
Read more: Burry of ‘Big Short’ Fame Places Big Bet Against Musk, Tesla
(Updates with details and context.)
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