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

Michael Burry continues his bearish bet Palantir TechnologiesEven after President Donald Trump’s public support helped stocks soar.

The investor of “Big Short” fame said: in a Substack post It said Friday that it continues to hold long-term put options in the artificial intelligence software company. Burry said he began betting against the company in the fall of 2025 and changed positions repeatedly.

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

Burry’s comments came after Trump praised Palantir. Real Social Friday’s post sent the stock higher from intraday lows. Still, shares fell 13.7% for the week, bringing their losses in 2026 to about 28%.

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

The famed investor said the stock has weakened since peaking around $200 last year and remains “wildly overvalued.” Acknowledging the possibility of a near-term rally, Burry suggested that the company’s fundamental value is less than half its current value.

“Trump’s post has rallied the stock after it fell 18% in the last three days. The stock may have a headwind here. It’s selling into software stocks. As previously stated, I continue to hold the sell-off 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 view Palantir as a beneficiary of the Iran war due to the amount of work the software and services vendor does with the U.S. military and intelligence agencies.

During Trump’s second administration, the company is signing new government contracts and deepening its work with the Pentagon; CEO Alex Karp maintains regular relations with management despite previous tensions.

Last year Burry’s former hedge fund Scion Asset Management announced bearish positions on Palantir and AI Darling NvidiaThis prompted a harsh reaction from Karp, who called Burry’s bets “super weird” and “bats—crazy.”

Burry also announced on Friday that he was increasing his bearish position on Nvidia.

“I added to my NVDA puts, this time buying the Jan 27 Strike 115 puts at 3.30. Implied Volatility is high, so I considered shorting it outright,” he said. “I like the maximum loss to be limited, though, and the time loss (also known as theta decay) won’t be significant for up to 2 months. I’d consider continuing before that if necessary.”