On Friday, prominent investor Michael Burry disclosed significant put option positions against Palantir Technologies in a Substack post. Burry holds $50-strike options that expire on June 17, 2027, along with $100-strike options expiring on December 19, 2026. He emphasized, “I am not selling these today,” signaling his continued bearish stance on the company.
Burry’s remarks come amidst a backdrop of fluctuating stock performance for Palantir, which saw a brief recovery following a post by former President Donald Trump. In his statement, Trump praised the company’s “great warfighting capabilities and equipment.” Despite this endorsement, Palantir’s stock was still tracking for a decline of approximately 13% over the week, representing nearly a 28% drop in 2026, with shares trading around $127 on Friday.
Burry is skeptical that Trump’s support will offer a lasting impact. He noted that while Trump’s post temporarily halted a three-day slump where the stock fell by 18%, he is not swayed by the rebound. Expressing his view on the company’s valuation, Burry stated, “I continue to hold the puts, as I believe the fundamental value of this company is well under $50/share.”
His bearish stance dates back to autumn 2025, during which he has periodically adjusted and renewed his short position. Despite Palantir’s decline from a high of approximately $200 over the past year, Burry has described the current stock price as “wildly overvalued.”
In addition, Burry revealed that he has also increased his short position against Nvidia, purchasing January 2027 puts with a $115 strike price at a cost of $3.30 per contract.
Palantir’s connections with the Trump administration have garnered attention, especially as reporting suggests that the company has secured new government contracts and strengthened its Pentagon relationship during Trump’s tenure. Palantir’s CEO, Alex Karp, has maintained close communication with figures from the administration, further linking the company’s fortunes to political dynamics.
Burry’s short positions have provoked strong reactions from Palantir’s leadership. Karp previously described Burry’s trades regarding both Palantir and Nvidia as “super weird” and “bats— crazy.”
Earlier this month, Palantir’s stock dropped around 8% after Burry made a now-deleted post on X, formerly known as Twitter. He argued that competitor Anthropic was siphoning enterprise AI spending away from Palantir, highlighting its rapid growth from $9 billion to $30 billion in annual recurring revenue (ARR) over a short span. In contrast, Burry noted that Palantir’s journey took nearly two decades to reach $5 billion in revenue. He maintains that Palantir operates more like a professional services firm, deploying engineers on-site at client locations, rather than providing a straightforward technology product that customers can utilize independently.
