Michael Burry says he's still betting against Palantir after Trump post boosts stock
CNBC • • business
Key Points:
- Michael Burry continues to hold long-dated put options against Palantir Technologies, maintaining his bearish stance despite a recent stock boost following President Donald Trump's public endorsement.
- Burry, who began shorting Palantir in fall 2025, stated the company's stock remains "wildly overvalued" and believes its fundamental value is less than half of its current price, which was around $127 per share.
- Trump's praise of Palantir's "warfighting capabilities" briefly lifted the stock, which has nonetheless experienced a roughly 13% weekly decline and a 28% drop in 2026.
- Palantir has been expanding its government contracts and military work, particularly under the Trump administration, with CEO Alex Karp maintaining engagement despite past tensions.
- Burry's bearish bets on Palantir and Nvidia previously drew criticism from Karp, who labeled the wagers as "super weird" and "batsh-- crazy."
