- Caterpillar shares retreated from record highs after Michael Burry announced he is shorting the company for the first time.
- The industrial heavyweight had rallied over 150% in the preceding 12 months as its power equipment business became closely linked to the artificial intelligence infrastructure buildout.
- Burry indicated that he believes the current rally for Caterpillar and several other AI-related stocks is nearing its end.
Quotes
“Burry sees this run coming to an end, while also calling time on a few other AI-driven stocks.”