Michael Burry attends the New York premiere of “The Big Short” at the Ziegfeld Theater in New York, November 23, 2015.
Andrew Toth | Movie Magic | Getty Images
Michael Burry stands by his pessimistic bet against it Palantir Technologieseven after public support for President Donald Trump helped boost the stock.
The investor in the “big short” firm said in a Substack post Friday that he continues to hold long-term put options on the artificial intelligence software company. Burry said he began betting against the company in the fall of 2025 and repeatedly increased the position.
“I now own the 50 puts with a strike price of June 17, 2027 and the 100 puts with a strike price of December 19, 2026. I am not selling these today,” Burry wrote.
Burry’s comments came after Trump praised Palantir in a Truth Social post on Friday, driving the stock higher from its intraday lows. Still, shares suffered a weekly decline of 13.7%, bringing their 2026 losses to about 28%.
“Palantir Technologies (PLTR) has demonstrated that it has superior warfighting capabilities and equipment,” Trump wrote. “Just ask our enemies!!!”
The famed investor said the stock has weakened since reaching a high of nearly $200 last year and remains “severely overvalued.” While Burry acknowledged the possibility of a short-term recovery, he maintained that the company’s fundamental value is less than half of what it is worth now.
“Trump’s post pushed the stock higher after the stock fell 18% in the last three days. The stock could see a boost here. There was a sell-off in software stocks. As mentioned, I continue to hold the puts as I believe the fundamental value of this company is well below $50 per share,” he said. Palantir closed Friday at $128.06 per share.
Some see Palantir as a beneficiary of the Iran war because the software and services provider has major deals with the U.S. military and intelligence agencies.
During Trump’s second term, the company secured new government contracts and deepened its cooperation with the Pentagon, while CEO Alex Karp worked regularly with the government despite previous tensions.
Last year, Burry’s former hedge fund Scion Asset Management announced bearish positions on Palantir and AI Darling Nvidiawhich sparked a sharp reaction from Karp, who called Burry’s bets “super weird” and “bats – crazy.”
Burry also announced on Friday that he had increased his bearishness on Nvidia.
“I added to my NVDA puts and this time bought the January 27 Strike 115 puts at 3.30. The implied volatility is high, so I thought about selling them completely,” he said. “However, I like that the maximum loss is limited and the temporal decay – also called theta decay – will only be significant after two months. If necessary, I would consider rolling before then.”
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