Michael Burry says he’s still betting against Palantir after Trump post boosts stock

Michael Burry is sticking with his bearish wager against Palantir Technologies, even after a public endorsement from President Donald Trump helped lift the stock.

The investor of the “Big Short” fame said in a Substack post Friday that he continues to hold long-dated put options on the artificial intelligence software firm. Burry said he started betting against the company in the fall of 2025 and has repeatedly rolled the position.

“I now own the June 17 2027 Strike Price 50 Puts and the Decembers 19, 2026 Strike Price 100 Puts. I am not selling these today,” Burry wrote.

Burry’s comments came after Trump praised Palantir in a Truth Social post on Friday, boosting the stock off its intraday lows. Still, the shares were on track for a roughly 13% weekly drop, bringing their 2026 losses to about 28%.

“Palantir Technologies (PLTR) has proven to have great warfighting capabilities and equipment,” Trump wrote. “Just ask our enemies!!!”

The famed investor said the stock has weakened since reaching a peak near $200 last year and remains “wildly overvalued.” While acknowledging the possibility of a near-term rally, Burry argued that the company’s fundamental value is less than half of what it’s worth now.

“Trump’s post rallied the stock after the stock had fallen 18% the last three days. The stock may catch a wind here. It has been selling off with software stocks. As mentioned, I continue to hold the puts, as I believe the fundamental value of this company is well under $50/share,” he said. Palantir traded around $127 per share on Friday.

Some view Palantir as a beneficiary of the Iran war due to the amount of business the software and services vendor has with the U.S. military and intelligence agencies.

During Trump’s second administration, the company has been securing new government contracts and deepening its work with the Pentagon, while CEO Alex Karp has maintained regular engagement with the administration despite earlier tensions.

Last year, Burry’s former hedge fund, Scion Asset Management, disclosed bearish positions against Palantir and AI darling Nvidia, which prompted a sharp reaction from Karp, who called Burry’s wagers “super weird” and “batsh– crazy.”