Investor Michael Burry, famous for his bets against the 2008 housing market, has taken aim at Elon Musk 's Tesla, calling the electric vehicle maker "ridiculously overvalued" and raising concerns over shareholder dilution.

In a Sunday post on his Substack newsletter, "Cassandra Unchained," Burry wrote, "Tesla's market capitalization is ridiculously overvalued today and has been for a good long time."

According to Fox Business , he added that Tesla reduces existing shareholders' stakes by roughly 3.6% each year due to continued share issuance and the lack of buybacks, a figure he says will grow under Musk's recently approved $1 trillion compensation plan.

Last month, Tesla shareholders voted to approve Musk's pay package, the largest executive compensation plan on record.

The pl

See Full Page