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Nov 4, 2025 8:00 AM

Palantir Stock Declines Over 6% In Tuesday Pre-Market: What's Going On?

Shares in Palantir Technologies Inc. (NASDAQ:PLTR) declined 6.56% in pre-market trading on Tuesday. The software giant posted upbeat third-quarter results on Monday, but saw bearish bets from large investors.

Michael Burry Turns Bearish

Billionaire Michael Burry has warned that the ongoing AI surge could echo the dot-com bubble of 2000. His firm, Scion Asset Management, disclosed more than $1 billion in bearish put options against AI-focused stocks, including Nvidia Corp. (NASDAQ:NVDA) and Palantir, with five million put options placed on the latter.

Even Ark Invest, led by renowned investor Cathie Wood, decided to reduce its holdings in Palantir despite the company’s impressive third-quarter earnings report. The firm sold 38,338 shares of Palantir stock through its ARK Innovation ETF (BATS:ARKK).

Several market analysts have ...