Palantir Technologies shares hit 52-week lows following bearish social media commentary from investor Michael Burry. Burry noted on X that the stock reached a new lower low after a low volume top. He suggested the downtrend would persist, using the phrase rock rock til you drop.
The stock has declined approximately 30% in 2026 amid a broader selloff in software and AI sectors. Palantir reported an 85% year-over-year revenue increase in the first quarter of 2026.
Investors remain concerned that an expensive valuation outweighs this strong financial growth. Burry’s commentary has intensified market focus on the stock's near-term trajectory.