Michael Burry Turns Up Heat On Palantir, Calls Out Alleged ‘Covert Smearing Campaigns’ By CEO Alex Karp

• Burry asked X users to tip him information about Palantir’s alleged smear campaigns.
• In a series of X posts, Burry reshared old news reports that showed questionable corporate behaviour by the company.
• PLTR stock has been under pressure, with retail sentiment dropping to ‘bearish.’

Michael Burry is escalating his campaign against Palantir Technologies. The famed 'Big Short' investor is alleging covert corporate tactics in a series of X posts on Sunday.

“Let’s try this again. If you have real evidence that Palantir has continued this practice of covert smearing campaigns against the enemies (CEO Alex) Karp and $PLTR cannot quite reach with Fentanyl-laced urine drones, please contact me,” Burry wrote.

He shared a 2024 news report saying that Palantir had hired a marketing agency for an influencer campaign to counter criticism of the patient data platform it was building for the UK’s National Health Service (NHS), in a breach of contractual terms. 
 

In a separate X post, Burry shared a 2017 BuzzFeed report, which said that Palantir obstructed its client, the New York Police Department, from developing tools to replace Palantir’s software and proceed with a tie-up with IBM.

Palantir shares were down 1.5% in early premarket trading on Tuesday. Monday was a market holiday.

Burry Forecasts Over 40% Stock Drop

Burry’s weekend comments signal an escalation in his criticism of the AI data analytics company that has captivated investors over the past two years.

Burry first disclosed a short position in Palantir last November, a development that has pressured the company’s shares since. Earlier this month, Burry teased a technical analysis showing a head-and-shoulders forming pattern in the PLTR chart and forecasted an over 40% drop in price from the levels at the time.

Even as Palantir reported blowout results for the last quarter, shares have continued to be under pressure. PLTR stock declined 26% year to date and currently trades around an eight-month low.

On Stocktwits, retail sentiment for the stock dropped gradually over the past week and was ‘bearish’ as of early Tuesday.

In a bullish signal, Norges Bank Investment Management disclosed a $5.15 billion new stake in Palantir last week.

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