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Barchart
Patrick Sanders

Michael Burry Is Shorting Caterpillar Stock for the First Time. Why You Shouldn’t Rush to Do the Same.

Michael Burry Caterpillar CAT

The king of the shorts is at it again.

Michael Burry, who famously shorted the housing market by betting against the subprime market in the 2008 financial crisis, identified a new short-sale target in Caterpillar (CAT), the famed construction and mining equipment company. Writing in his Substack, Cassandra Unchained, Burry says that he shorted Caterpillar at $1,060.98 at the end of the second quarter, because he believes the stock has become overvalued due to the artificial intelligence (AI) infrastructure buildout.

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