business
Michael Burry says he's shorting Caterpillar for the first time after it nearly doubled in the AI-driven rally of 2026
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- "Caterpillar jumped out at me," Burry wrote in a Tuesday SubStack post.
- Caterpillar year to dateBurry said Caterpillar's stock valuation has reached levels that caught his attention.
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Michael Burry said Tuesday he has placed a bearish wager against Caterpillar, believing the construction-equipment maker has become one of the market's most overvalued beneficiaries of the artificial intelligence investment boom.
The famed investor said he shorted Caterpillar shares at $1,060.98, alongside new bearish positions in Nvidia, Applied Materials, Tesla and the iShares Semiconductor ETF (SOXX), as he prepared for what he believes is an increasingly overextended rally in AI-linked stocks.
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