Dr. Michael Burry, the brilliant investor and trader who bet against the housing market before the Great Financial Crisis market meltdown, recently disclosed his new positions, which include massive bets against notable AI high-flyers Nvidia (NASDAQ:NVDA) and Palantir (NASDAQ:PLTR).
Despite strong third-quarter revenue, Palantir (NASDAQ: PLTR) shares fell sharply this week, dropping from $207.51 on Monday, November 3, to $187.90 on Wednesday, November 5.
Palantir's record Q3 earnings and raised outlook spotlight surging AI demand, but sky-high valuation tempers investor enthusiasm.
Beloved Palantir PLTR reported its Q3 results, reflecting one of the more sought-after releases in the Q3 cycle overall. It's easy to see why so many have been laser-focused on the software titan, with recent short positions and broader uncertainty largely dominating the narrative around the stock over the past few weeks.
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Palantir (NASDAQ: PLTR) shares tanked nearly 8% on Tuesday, November 4, just one day after hitting a record price of $207.18 following a strong third-quarter earnings call.
No other company currently in the S&P 500 has hit a $490 billion valuation as quickly and with as little in sales.
An artificial intelligence software powerhouse came under pressure despite a strong earnings report, while shares of a fast-food company rose after it posted strong quarterly results and said it might offload its underperforming pizza chain.
Shares in two closely watched AI-adjacent companies, Nvidia Corporation and Palantir Technologies, are falling this morning. Currently, Nvidia shares are down more than 2.2% and Palantir shares are down more than 6%.
Palantir's stock fell sharply on Tuesday despite upbeat earnings, while its CEO criticized short sellers.
PLTR posts record Q3 results with surging AI-driven revenue, expanding margins, and upbeat 2025 guidance, but valuation raises caution.
Data analytics software maker Palantir is seeing "otherworldly" growth as companies and governments clamor for its flagship Artificial Intelligence Platform, its CEO told investors yesterday. So why is its stock suffering today?