Michael Burry, renowned for his successful short position on the US subprime mortgage market, confirmed he maintains neither long nor short exposure to SpaceX. The decision stems not from a bullish outlook on fundamentals, but from the prohibitively high expense associated with establishing a short position. Burry characterized the entity as a hybrid of a small aerospace firm, a niche telecom operator, a troubled social media platform, and a computing service provider akin to CoreWeave, generating under $20 billion in annual revenue against a staggering $3 trillion valuation.

This stance contrasts sharply with recent market performance, where SpaceX shares surged 20% on their debut and accumulated over 25% gains in the subsequent week. The rally propelled the company past Berkshire Hathaway in market capitalization, securing a spot among the global top five, trailing only Nvidia, Google, Apple, and Microsoft.