Michael Burry says he’s still betting against Palantir after Trump post boosts stock
Michael Burry, the renowned investor known for his role in the “Big Short,” is doubling down on his bearish bet against Palantir Technologies despite a recent endorsement from President Donald Trump that boosted the stock price. Burry revealed in a Substack post that he continues to hold long-dated put options on the artificial intelligence software company, which he started betting against in the fall of 2025.
“I now own the June 17, 2027 Strike Price 50 Puts and the December 19, 2026 Strike Price 100 Puts. I am not selling these today,” Burry stated in his post.
Trump’s public praise of Palantir on Truth Social helped lift the stock from its intraday lows, but it still suffered a 13.7% weekly drop, bringing its 2026 losses to around 28%. Burry believes that the stock, which peaked near $200 last year, is “wildly overvalued” and maintains that its fundamental value is less than half of its current price.
Despite acknowledging the potential for a short-term rally, Burry remains steadfast in his belief that Palantir’s stock is overvalued. He pointed out that the company has been selling off along with other software stocks and closed at $128.06 per share on Friday.
Palantir has been viewed as a potential beneficiary of the conflict with Iran due to its extensive business dealings with the U.S. military and intelligence agencies. During Trump’s second administration, the company secured new government contracts and strengthened its ties with the Pentagon, with CEO Alex Karp maintaining regular engagement with the administration.
Burry’s former hedge fund, Scion Asset Management, previously disclosed bearish positions against Palantir and Nvidia, another popular AI company. Karp publicly criticized Burry’s wagers as “super weird” and “bats— crazy.” Burry also mentioned that he increased his bearish position on Nvidia by acquiring the January 27 Strike 115 puts.
“I like the maximum loss being limited, and time decay won’t be significant until 2 months out. I would consider rolling before that if necessary,” Burry explained.
In conclusion, Michael Burry is standing by his bearish stance on Palantir Technologies and Nvidia, despite recent developments and endorsements. His investment decisions reflect his belief in the fundamental value of these companies and his commitment to his investment strategy.
