Caterpillar (CAT) Shorted by Michael Burry at $1060.98 After 86% Gain
Published on · Source: cnbc.com
AI Summary
Summarized by AI from the source belowMichael Burry revealed he has shorted Caterpillar (CAT) shares at $1,060.98, citing overvaluation following an 86% gain in the first half of 2026. He expressed concerns over the company's price-to-sales ratio, which has reached the highest level in three decades. Burry's positioning also includes bearish bets on Nvidia and Applied Materials, as he anticipates potential market corrections in AI-driven stocks. His actions may signal caution for investors, especially amid rising valuations in the semiconductor sector, where the Philadelphia Semiconductor Index trades 65% above its 200-day moving average.
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About Caterpillar Inc. (CAT)
Caterpillar is the world’s largest maker of construction and mining equipment, a bellwether for the global industrial economy.
The Industrials sector covers manufacturers, aerospace, defense and transport companies tied to economic activity.
Earlier CAT news
- Caterpillar (CAT) Chief Accounting Officer Sells $326,160 in Shares
- Caterpillar (CAT) Group President Sells $4.98M in Stock
- Caterpillar (CAT) Earnings Boost Dow by 730 Points on Mixed Day
- Premarket Stocks: Meta, Eli Lilly, Caterpillar and Amazon Update
- Caterpillar (CAT) Gains From Infrastructure Boost Amid Iran Ceasefire
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