Palantir stock falls 2.25% as Michael Burry puts on 5 million shares

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Palantir drops 2.25% to $127.55 today

Highlights

Michael Burry disclosed substantial put option positions against 5 million PLTR shares after publicly stating Anthropic is surpassing Palantir in the enterprise AI space.
Burry's critique, backed by enterprise adoption and spending evidence, triggered a pronounced Palantir stock sell-off amid prevailing market weakness.
PLTR trades below key moving averages, with technical signals pointing to continued downside risk and a $123.00–$134.00 expected range for the coming week.

Burry’s bearish bets and Anthropic gains drive sentiment shift

On April 9, 2026, investor Michael Burry publicly stated that Anthropic is overtaking Palantir in the enterprise AI market and revealed holding put options on 5 million PLTR shares as of September 30, 2025. Burry supported his statement with spending and adoption data, and his remarks prompted a sharp sell-off in Palantir stock. These events have accompanied the current market direction, though price action has remained under broader selling pressure.

Technical weakness and oversold signals confirm pressured momentum

PLTR is trading at $127.55, which is well below the MA-20 of $149.04, MA-50 of $144.93, and MA-200 of $164.23. This configuration signals persistent downward pressure across short-, medium-, and long-term trends. The Ichimoku Kijun level sits at $145.45, acting as immediate resistance above the current market price. Momentum signals remain pessimistic, with MACD on both D1 and W1 timeframes issuing sell alerts and ADX values on D1 at 14.12 and W1 at 19.75, indicating weak or absent trend strength. Oversold readings are confirmed on D1 for RSI (35.58), Stoch RSI, and CCI, reflecting pressure but also suggesting potential short-term exhaustion from sellers, while BBP at -6.22 and a strong-sell AO reading reinforce dominant intraday selling. Today, the price opened lower than the previous close, confirming a clear downside gap, and sits in the lower end of today’s $122.70 – $128.22 range; volatility is high and the tone is pressured after the open.

Low rebound odds as bearish scenario shapes short-term outlook

For the coming week, the expected trading range is normalized to $123.00 – $134.00 to fit with recent volatility around the current price. The probability of an upward move is very low (less than 20%), making the risk of further declines more likely. The baseline scenario is continued sideways movement within this corridor. If bulls reclaim ground and break above immediate resistance near $134.00, a rebound could follow, while a drop below $123.00 would signal a bearish extension as sellers remain in control.

Viktoras Karapetjanc, expert at Traders Union, sees the fundamental and sentiment backdrop for Palantir as challenged in the short term. He notes that Burry’s public short and adoption concerns weigh on sentiment, driving continued pressure. Major trend signals and momentum are negative, with volatility and oversold readings dominating the technical landscape. However, he believes structural innovation and enterprise adoption could revive interest over time. "While short-term headwinds are clear, I remain optimistic on Palantir’s long-term position if it can reclaim resistance and improve sentiment in coming quarters."

Earlier, analysts noted that Palantir continued to face significant downside pressure amid a persistent bearish trend and mounting competition in the enterprise AI market. The latest developments reinforce this view, as heightened selling momentum and negative sentiment now place increased emphasis on the $123.00 support level as a critical threshold for traders to monitor in the week ahead.

Source of Data: PLTR Price Analysis by TU

The analysis is based on a proprietary model combining technical, on-chain, and expert data. Not investment advice. See methodology

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