Palantir Technologies Inc. (NASDAQ:PLTR) shares were in a real‑time stress test of their cult‑stock status on Thursday after Michael Burry‘s latest Anthropic broadside knocked the stock lower.
The tape suggests his “eating Palantir’s lunch” post is still moving PLTR, but dip‑buyers haven’t left the building yet.
- PLTR stock is moving. See the chart and price action here.
Burry took to X on Wednesday to argue Anthropic has rapidly outpaced Palantir in enterprise AI, citing Ramp data that show Anthropic’s ARR jumping from 9 billion to 30 billion and capturing roughly 73% of incremental enterprise AI spending.
He framed Palantir as confined to “low margin and small” government work while Anthropic offers an easier, cheaper, more intuitive solution for businesses.
Palantir Stock Under Pressure
The market reaction was swift: Palantir stock dropped about 6% Wednesday as his comments circulated, adding to an already bruising year‑to‑date slide.
Shares continued to dive in Thursday morning trading, down more than 7% according to Benzinga Pro.
It is not Burry’s first strike at Palantir. He disclosed a short position last year, and he has periodically warned about an AI bubble since late 2025.
Palantir CEO Alex Karp has responded in kind, blasting Burry on CNBC as “bat‑‑‑‑ crazy” for shorting “chips and ontology” and insisting the company’s AI software and government franchises remain highly profitable.
Will Retail Buy the Dip?
The question now is whether Palantir’s retail‑heavy base is starting to fatigue.
Wednesday’s session showed the usual reflex: after the intraday 6% flush, shares clawed back some ground in after‑hours trading as buyers stepped in around the mid‑$140s.
Social chatter on Palantir‑focused forums still leans toward defending the long‑term story and dismissing Burry’s thesis as self‑interested short propaganda.
One Stocktwits user wrote, “Karp should file a lawsuit against Burry for stock manipulation,” while several others pegged the pullback as a buying opportunity.
But with PLTR stock trading at roughly 109x forward earnings versus a sector median near 21x, each drawdown tests how many Palantir loyalists still have dry powder to buy the dip.
PLTR Price Action: According to data from Benzinga Pro, Palantir shares were down 7.72% at $129.90 at the time of publication Thursday.
Photo: DIA TV / Shutterstock
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