Michael Burry has reaffirmed his bearish stance on Palantir Technologies Inc., even in the wake of President Donald Trump’s recent praise of the company on social media. In a Substack post published on Friday, Burry detailed his current put option positions against Palantir, specifying $50-strike puts expiring on June 17, 2027, and $100-strike puts expiring on December 19, 2026. “I am not selling these today,” he asserted, emphasizing his commitment to the bearish outlook.
Trump’s endorsement of Palantir, which he described as possessing “great warfighting capabilities and equipment,” provided a temporary boost to the stock after it had plummeted. Despite this brief uptick, Palantir was on track for a significant weekly decline of around 13%, which translates to approximately 28% losses for 2026. The shares traded at about $127 on Friday.
Burry indicated that he considers Trump’s support as only a fleeting factor. He noted, “Trump’s post rallied the stock after the stock had fallen 18% the last three days. The stock may catch a wind here,” yet he continues to maintain the short positions, arguing that he believes Palantir’s fundamental value is significantly below $50 per share.
Burry’s initial short position against Palantir was established in the fall of 2025, and he has since made adjustments and renewals. He labeled the stock as “wildly overvalued” despite its drop from a peak of nearly $200 in the previous year.
In addition to his stance on Palantir, Burry disclosed that he has also added to his bearish position against Nvidia by purchasing January 2027 puts with a $115 strike price at $3.30 per contract.
Palantir’s relationship with the Trump administration has garnered attention, particularly as the company continues to secure new government contracts and enhance its ties with the Pentagon. CEO Alex Karp has remained in contact with figures in the administration, promoting the company’s growth within this sector.
The investment community has notably reacted to Burry’s short position. Karp previously described the actions of Burry’s Scion Asset Management as “super weird” and “bats— crazy.” Earlier this month, in a now-deleted post on X, Burry pointed to Anthropic’s rapid growth in enterprise AI spending, suggesting it was at Palantir’s expense, citing ARR figures that show Anthropic scaling from $9 billion to $30 billion in just a few months—an achievement he contrasted with Palantir’s longer trajectory to reach $5 billion in revenue.
Burry’s key argument rests on the premise that Palantir operates more as a professional services firm rather than a traditional technology company, noting that it often places engineers at client sites for extended periods instead of delivering standalone software solutions.
In its most recent financial report, Palantir announced fourth-quarter revenue of $1.4 billion, a 70% increase year-over-year, with U.S. commercial revenue soaring 137% to $507 million. The company has projected approximately $7.2 billion in revenue for the entirety of 2026. Despite the current downtrend, Palantir’s shares continue to trade at an earnings multiple of about 142 times expected earnings, ranking among the highest in the S&P 500.
