Michael Burry, the investor who famously bet against the 2008 housing market, forecasts a significant decline for Palantir Technologies. Burry identified a Head and Shoulders reversal pattern in a technical analysis chart shared on X.
The analysis suggests a potential stock collapse of nearly 60%. Burry identified a target price range for the asset between $50 and $60.
This forecast represents a sharp decline from the stock's closing price of $142.91 on February 9. The public bearish stance follows a large options bet Burry disclosed against Palantir in November.