Burry Warns S&P 500 Approaching Major Peak, Maintains Shorts in NVDA and TSLA

US500-0.44%
NVDA0.87%
TSLA-5.96%
SOXX3.56%
MU5.88%
According to CNBC, investor Michael Burry warned on August 4 that the U.S. stock market is approaching a major peak and may experience a correction similar to the 1987 stock market crash. Burry shared the view in a Substack post, noting that despite ongoing record highs in the S&P 500, renewed inflows into the market could amplify volatility. The S&P 500 surged 1.9% on August 4 to record a new closing high since June, while the Nasdaq Composite jumped 2.7%, boosted by better-than-expected corporate earnings and expectations that shipping in the Strait of Hormuz may resume. Burry maintains multiple short positions including Nvidia (NVDA-US), Tesla (TSLA-US), iShares Semiconductor ETF (SOXX-US), Micron (MU-US), Caterpillar (CAT-US), Palantir (PLTR), and Applied Materials (AMAT-US), profiting on most positions except Nvidia, which currently shows losses.
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