Michael Burry, the hedge fund manager famous for predicting the 2008 housing market crash, has confirmed he maintains bearish bets against Palantir Technologies Inc. This comes after the data analytics firm’s stock rose sharply following a favorable mention by former President Donald Trump.
Burry disclosed his ongoing position in long-dated put options through regulatory filings. Analysts note this contradicts recent market optimism around Palantir, which gained 15% last week after Trump praised its work with U.S. intelligence agencies during a campaign rally.
‘This appears to be a classic Burry contrarian play,’ said financial analyst Mark Douglas of Wells Fargo Securities. ‘He’s betting the Trump bump won’t sustain Palantir’s valuation multiples.’
Palantir’s stock has been volatile since going public in 2020, with bulls touting its government contracts and bears questioning its profitability. The company reported 23% revenue growth last quarter but continues to face scrutiny over its controversial work with immigration agencies.
Market watchers will be monitoring whether Burry’s position signals broader skepticism about the AI software sector’s valuations, which have surged 40% year-to-date.