Renowned investor Michael Burry has reaffirmed his bearish position on Palantir Technologies, even as a public endorsement from Donald Trump provided temporary support to the stock. In a Substack post published on Friday, Burry revealed that he continues to hold long-dated put options against the artificial intelligence software firm.
“Big Short” investor Michael Burry is sticking with his bearish bet against defense tech company Palantir Technologies. Burry said in a Substack post that he's still holding long-dated put options on Palantir.
President Donald Trump lauded Palantir in a post to Truth Social on Friday as the stock headed for a plunge this week. Palantir's tools are reportedly being used in Iran, and the company is benefitting from its ties to the Trump administration and government contracts.
Palantir Technologies (NASDAQ:PLTR | PLTR Price Prediction) stock is extending a brutal four-day losing streak in early trading on Friday, falling another 5% to around $124 after closing Thursday at $130.49.
Shares of Palantir (NASDAQ:PLTR | PLTR Price Prediction) took a major hit on Thursday, plunging by more than 7% alongside the broader software scene, which is increasingly nervous about the AI impact following Anthropic's latest AI model, Claude Mythos, which is so powerful that it's only going to be released to tech firms.
Palantir stock has dropped alongside the rest of the software sector on worries over Anthropic's Mythos AI model. Wedbush says it's not a problem.
The artificial intelligence race keeps delivering plot twists that would make Hollywood blush.
The "Big Short" investor's deleted post sent shares down 7%. Wedbush argues the Anthropic threat is overblown and the sell-off is a buying opportunity.
The Big Short investor argued Anthropic is outpacing Palantir at a fraction of the time. The stock fell 7% before he pulled the post.
Palantir trades at sky-high multiples, over 238x earnings and 80x sales, showing intense AI optimism, but such rich valuations leave little room for growth missteps.
Palantir Technologies (NASDAQ:PLTR | PLTR Price Prediction) shares are down 7% Thursday, sliding from $140.76 to $131 as competition fears tied to Anthropic's latest AI model continue to rattle investors.
Palantir Technologies (NASDAQ: PLTR) opened in the red on April 9 as the market grappled with a fresh wave of skepticism from “Big Short” investor Michael Burry. Investors seem to be cutting exposure to PLTR after Burry's latest critique specifically questioned the company's enterprise dominance.