Cathie Wood attacks Michael Burry: ‘She doesn’t understand the fundamentals behind explosive growth in the innovation space’

Cathie Wood’s response to news of Michael Burry’s bearish stance on ARK Invest’s flagship ETF was not long in coming. “To his credit, Michael Burry made a very good fundamentals call and acknowledged the brewing calamity in the real estate / mortgage market. I don’t think he understands the fundamentals that are creating explosive growth and investment opportunities in the real estate space. ‘innovation,’ Wood wrote in a tweet.

The investor made famous by the movie ‘The Big Short’ turns out to have bearish contracts against 235,500 shares of the ARK Innovation ETF. Burry also increased his bearish stance on Tesla, which is the leading stock on the ARK Innovation ETF.