Palantir Surges 29% to $162.66 on Record Q2 Beat, Burry Sticks to Short

According to Stocktwits, Palantir Technologies (PLTR) surged 29% to $162.66 on Tuesday after delivering record second-quarter results, though investors Michael Burry and Cathie Wood responded with opposite moves. The company's Q2 revenue jumped 93% to $1.94 billion, beating the $1.81 billion estimate, while adjusted earnings of $0.41 per share topped expectations of $0.35. Palantir also raised its 2026 revenue guidance to $8.15–$8.16 billion, above its previous $7.66 billion top end.

Burry doubled down on his bearish stance, saying on X that he wished he had been short nearly $1 trillion worth of Palantir, while maintaining his existing short positions across multiple stocks. Meanwhile, ARK Invest trimmed its Palantir holdings, selling a combined 39,233 shares worth $6.38 million through its Innovation and Fintech ETFs on Tuesday.