Palantir Technologies (NASDAQ:PLTR) delivered triple-digit gains in three straight years. However, the stock has traded sideways in 2026 despite strong financial results, primarily because investors are divided over its extremely rich valuation.

Former fund manager Michael Burry has been betting against Palantir since Fall 2025 and earlier this year wrote, “I believe the fundamental value of this company is well under $50 per share.” He owns put options with a $50 strike price that expire in June 2027, meaning they would be in the money if Palantir stock falls below that level within that time frame.

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