Michael Burry’s Short Call Dents Caterpillar’s AI-Fueled Rally
Bloomberg 2026-07-01 19:32:59
Context: Caterpillar Inc.'s stock price dropped from a record high after Michael Burry, a well-known investor famous for his successful bet against the US housing market in 2008, announced that he had shorted the company. This development occurred on Wednesday, with Burry's move countering the company's recent AI-fueled stock rally. Burry's short call marked the first time he had taken a position against Caterpillar.
Key Facts
- Michael Burry, an investor known for his role in predicting the 2008 US housing market crisis, as depicted in The Big Short, has taken a short position on Caterpillar Inc., marking the first time he has done so.
- Caterpillar Inc.'s stock price had previously reached a record high, but slid after Michael Burry's announcement that he had shorted the company.