Bearish Trade Call on PLTR: 'Buy the Rumor, Sell the News'

3 months ago

Carmen Reini

"So, and it's also just it's unusual to see a company beat and raise in its earnings and then fall this much. So, Palanteer, which is ticker PLTR, fell nearly 8% today, which is the worst one day drop since August. Um, so they were at at or near record high before earnings. So, a maybe a little bit of buy the rumor, sell the news. Um but there was also some tension that sort of came around after the report. So Michael Bur of the big short fame um disclosed some bearish wagers on Palanteer and Nvidia. So he bought Palanteer put options."

The speaker highlights an unusual situation with PLTR where, despite beating and raising earnings, the stock fell nearly 8%, suggesting a 'buy the rumor, sell the news' scenario. Additionally, bearish bets through put options by a notable figure add to the negative sentiment.

Related Stocks