Palantir stock sinks as Michael Burry turns bearish and CEO Alex Karp plans $95M share sale — Is PLTR about to collapse?
Palantir stock dropped sharply as CEO Alex Karp moved to sell 585,000 shares worth nearly $95 million under a 10b5-1 plan. Shares have swung widely, falling as much as 25% this week. The pressure intensified after Michael Burry disclosed bearish put options covering about five million shares with a notional value near $912 million. Palantir recently traded around $155 despite strong Q3 revenue of roughly $1.2 billion, up 63% year over year. But its valuation near 375 times forward earnings has fueled profit-taking, volatility, and renewed skepticism about AI-stock pricing.
Palantir stock dropped sharply as CEO Alex Karp moved to sell 585,000 shares worth nearly $95 million under a 10b5-1 plan. Shares have swung widely, falling as much as 25% this week. The pressure intensified after Michael Burry disclosed bearish put options covering about five million shares with a notional value near $912 million. Palantir recently traded around $155 despite strong Q3 revenue of roughly $1.2 billion, up 63% year over year. But its valuation near 375 times forward earnings has fueled profit-taking, volatility, and renewed skepticism about AI-stock pricing.
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