Palantir stock fell 6.55% to $142.20 after Michael Burry’s warning
Michael Burry published a post on his Substack page warning about Palantir Technologies stock. He stated that the stock is at a ‘crossroads’ and described a head-and-shoulders-type topping pattern.
The stock dropped 6.55% to $142.20 the next day. Palantir is down 20% year to date, compared to the S&P 500’s 10.35% gain.
Burry’s warning contrasts with Palantir’s 85% year-over-year revenue growth and raised full-year guidance to 71% growth. He believes the stock is overvalued, trading at 16 times its intrinsic value.