Not Just Tesla, Michael Burry Could Be Betting Against SpaceX With SPAC Stake As Well

Famed investor Michael Burry was in the spotlight Monday with news that he is betting heavily against Tesla Inc TSLA again. Burry of “The Big Short” fame could also be betting against Elon Musk’s other large company SpaceX.

What Happened: It was revealed in filings Monday that Burry has put options against 800,000 shares of Tesla, worth over $500 million. The value could rise if Tesla shares continue to fall.

Burry, who made over $700 million in profits betting against the market in the 2007-2008 financial crisis, has been outspoken about Tesla before.

Filings also revealed that Burry took a long position in the shares of Vector Acquisition Corp VACQ, which is bringing Rocket Lab public, a rival to SpaceX.

Related Link: Rocket Lab Is Ready to Launch SPAC And Satellite: What Investors Should Know About SpaceX Competitor

Why It’s Important: Burry, an outspoken critic of Musk, may really be fond of space and think that Rocket Lab is the next big company in the industry. Burry previously spoke out against SPACs, saying they were not properly vetted. Rocket Lab was called an exception because of its ties to the space industry.

The bet on Rocket Lab could also be a bet against SpaceX as the largest rival in terms of rocket launches currently.

Rocket Lab is one of the only two U.S. companies with regular access to orbit. The company has performed 19 launches to space in the last six years. Rocket Lab is the second most used U.S. orbital rocket company, trailing only SpaceX.

Rocket Lab has a pipeline of $2.2 billion in deals including flights to the Moon in 2021, Venus in 2023 and Mars in 2024.

Price Action: Shares of Vector Acquisition Corp were flat at $10.02 on Monday. Shares of VACQ have traded between $9.72 and $15.15 over the last 52 weeks.

Tesla shares were down 2% to $576.83 on Monday. Shares of Tesla are down 19% over the last month.