PLTR
The stock is doing Palantir things
Palantir opened Wednesday looking chipper, then promptly remembered it’s allowed to be dramatic. The stock flipped red even after Monday’s monster second-quarter report, because apparently even a 93% revenue surge doesn’t stop traders from taking a quick breather.
Why the bulls are still loud
DA Davidson’s Gil Luria kept the faith, reiterating a Buy and lifting his price target to $200 from $175. That’s not exactly a subtle vote of confidence. The call leans on Palantir’s AI-era positioning, a big revenue beat, and the fact that U.S. customers are clearly still signing up for whatever the company is selling.
But the chart is screaming “easy does it”
Here’s the catch: the stock has already sprinted a long way. It’s trading well above its short-term trend lines, RSI is in overbought territory, and the longer-term trend still has some cleanup work to do after that February death cross.
That means the next few sessions may be less about fireworks and more about whether buyers can defend the recent breakout zone. If not, the market may remind everyone that even the hottest AI names still need gravity breaks.
The Burry cameo is just extra spice
Michael Burry also chimed in with a bearish Substack post and said he’s short Palantir and Tesla. That doesn’t change the fundamentals, but it does add to the vibe: Palantir is now squarely in the middle of the AI debate, where everyone has a strong opinion and nobody is being chill about it.
Big picture: Palantir’s fundamentals look strong, but after a huge run, the stock is trading like it knows the whole market is watching.