Tesla Inc TSLA bear and hedge fund manager Michael Burry on Sunday defended the U.S. Securities and Exchange Commission and took a shot at billionaire entrepreneur Elon Musk for flouting the agency's rules.
What Happened: The “Big Short” fame investor said in a now-deleted Tweet that the U.S. regulatory agency was “nothing but professional” and that, unlike Musk, he did not have “billions” to make his own rules “and would never” do that.
"In defense of the SEC, and particularly the SF office, they were nothing but professional in my dealings with them. But I don't have billions, can't make my own rules, and would never," Burry wrote on the microblogging site.
Burry also shared a link to a Forbes story in which Musk calls the SEC regulators “bastards” over its investigation into an infamous 2018 tweet "funding secured."
Why It Matters: Burry and Musk have taken shots at each other in the past. Musk had last year called Burry a “broken clock” after The Scion Asset Management investor ridiculed Tesla’s high valuation. Burry had then accused Musk of selling Tesla shares last year to benefit from its higher price and repay personal debts.
Earlier this month, Burry said on Twitter that Musk “buying enough shares to control Twitter would be good for America. Period.”
Price Action: Tesla stock closed 3.6% lower at $985 a share on Thursday.
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