Michael Burry Just Shorted Palantir Again -- He Thinks It's Headed Below $1

In caller years, Burry has been vocal successful his skepticism astir the artificial quality (AI) boom, arguing that galore AI-related stocks commercialized astatine valuations disconnected from reality. Now, Burry has disclosed a caller abbreviated presumption successful Palantir Technologies (NASDAQ: PLTR), publically asserting that the shares are intrinsically worthy little than $1.

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This isn't Burry's archetypal rodeo with Palantir

This is not Burry's archetypal stake against Palantir. Earlier this year, helium established a humble abbreviated position, which fueled a fleeting and crisp sell-off successful Palantir stock. Predictably, Burry swiftly covered portion of his position, pocketing a profit. Palantir banal yet recovered, propelled by accelerating request for the company's Artificial Intelligence Platform (AIP).

Undeterred, Burry appears to beryllium doubling down connected his bearish stance. According to his Substack newsletter, Cassandra Unchained, helium has purchased out-of-the-money enactment options expiring successful March 2027. The options contracts reportedly person a onslaught terms successful the low- to mid-$100 scope (the banal precocious traded for astir $170).

Palantir's net defy the carnivore lawsuit

Palantir's second-quarter fiscal results basal successful crisp opposition to immoderate statement that the concern is plateauing. Total gross reached $1.9 billion, a 93% summation twelvemonth implicit year. U.S. commercialized gross -- the conception that is astir intimately tied to endeavor adoption of the company's AI bundle -- surged 149% twelvemonth implicit twelvemonth to $764 cardinal and roseate 28% from the anterior quarter. Overall U.S. gross accrued by 115% to $1.6 billion.

Profitability matched Palantir's top-line momentum. The institution generated $1.1 cardinal successful nett income, an magnitude that exceeded its full gross successful the comparable 4th a twelvemonth earlier. Even much encouraging is that absorption responded by raising its full-year gross projection to $8.2 billion, implying 82% growth, and lifted the U.S. commercialized outlook to much than $3.4 billion, oregon astatine slightest 134% growth.