Palantir Technologies (NASDAQ: PLTR) heads into Friday’s U.S. session under heavy scrutiny: the stock has been on a spectacular multi‑year run, just logged record quarterly results, and is now caught in the crossfire between a very vocal CEO, a high‑profile short from Michael Burry, and rising fears of an “AI bubble.”
Here’s what traders and longer‑term investors should know about Palantir stock before the bell on Friday, November 14, 2025.
1. Palantir stock pre‑market: modest follow‑through after Thursday’s 6.5% drop
- Thursday’s close: Palantir finished yesterday at $172.14, down 6.53% on the day as investors continued to rotate out of high‑multiple tech names. [1]
- Pre‑market quote: As of about 4:25 a.m. ET, MarketWatch data showed PLTR at $169.90 in pre‑market trading, off roughly 1.3% from Thursday’s close. Before‑hours volume stood around 68,000 shares, indicating cautious but active trading ahead of the open. [2]
Despite the pullback, Palantir is still one of 2025’s standout performers: various analyses put the stock up more than 150% year‑to‑date and over 200% over the past 12 months, making it one of the hottest names in the S&P 500. [3]
2. The sell‑off comes after a blowout Q3 and raised guidance
Palantir’s recent drop is not about weak fundamentals. On November 3, the company reported one of its strongest quarters ever:
- Q3 2025 revenue: $1.18 billion, up 63% year over year, beating Wall Street estimates of about $1.09 billion. [4]
- Adjusted EPS: $0.21 vs. $0.17 expected. [5]
- Profitability: net income of $475.6 million, up roughly 40% year‑on‑year, with an adjusted operating margin around 51%. [6]
- U.S. commercial revenue: up 121% to $397 million.
- U.S. government revenue: up 52% to $486 million. [7]
- Deal activity: 204 deals over $1 million, including 91 over $5 million and 53 above $10 million, with $2.76 billionof total contract value signed in the quarter. [8]
Management also raised guidance for the third time this year:
- Q4 2025 revenue outlook: $1.327–$1.331 billion, comfortably ahead of the roughly $1.19 billion Wall Street was expecting. [9]
- Full‑year 2025 revenue guidance: $4.396–$4.40 billion, implying about 53% year‑over‑year growth and a Rule‑of‑40 score above 100% when combined with margins. [10]
In other words, growth and margins both surprised to the upside; the current pressure on the share price is mainly about valuation, positioning, and macro risk appetite, not deteriorating fundamentals.
3. CEO Alex Karp is on the offensive against valuation critics
Palantir’s outspoken CEO Alex Karp has leaned into the debate over whether his company is absurdly overvalued or just early in a massive AI opportunity:
- In an appearance at the Yahoo Finance Invest Conference this week, Karp slammed analysts and short sellerswho called Palantir overvalued at $6, $12, or $20, accusing them of pushing everyday Americans out of one of the market’s biggest tech winners. [11]
- He again rejected the idea that Palantir is a “surveillance company,” calling some critics “parasitic” and arguing the firm builds tools for front‑line workers and national defense, not bureaucrats. [12]
- Karp tied Palantir’s success to patriotism and working‑class wealth creation, saying he takes satisfaction in seeing employees and early retail investors buying “beautiful Teslas” with PLTR gains while elite financiers “sit in old cars.” [13]
On the earnings call and in his shareholder letter, Karp described Palantir’s business momentum as “otherworldly” and said the company is now generating more profit in a single quarter than it produced in revenue not long ago. [14]
This unabashedly bullish tone is energizing retail bulls — but it’s also provoking equally loud skepticism from institutions and short sellers.
4. Michael Burry’s $9.2 million put position is the bear story of the day
The other big personality in today’s Palantir story is Michael Burry, the investor made famous by The Big Short.
- Burry recently disclosed a large put position against Palantir, which some media outlets initially misreported as a gigantic $912 million bet.
- In a post on X (formerly Twitter), Burry corrected the math, explaining that he bought 50,000 put contracts on PLTR at $1.84 each — controlling 5 million shares with a $50 strike price expiring in 2027. The total cost: $9.2 million, not $912 million. [15]
- The structure of the trade implies Burry is effectively betting on a 70%+ decline in Palantir’s share price over the next couple of years. [16]
- Burry is also shutting down his hedge fund, Scion Asset Management, telling investors he will return capital by year‑end after years of frustration with markets that, in his view, no longer reflect fundamental value. [17]
Burry’s bearish stance has become part of the broader “AI bubble” narrative that many analysts now cite when explaining why Palantir’s stock fell around 14% in the week after earnings, even as the company beat expectations and raised guidance. [18]
5. Billionaire hedge funds bought Palantir earlier this year
Adding to the drama: some other high‑profile investors moved the opposite way from Burry earlier this year.
A new piece syndicated via Nasdaq and The Motley Fool highlights Q2 13F filings from hedge fund billionaires: [19]
- Israel Englander (Millennium Management)
- Added 3.6 million shares of Palantir in Q2, tripling his stake and making PLTR one of his top holdings (excluding options).
- Simultaneously sold 298,000 shares of Rigetti Computing (RGTI), exiting that position completely.
- Cliff Asness (AQR Capital Management)
- Increased his Palantir holdings by about 20%, buying 439,700 shares, though PLTR remains a relatively small position for the firm.
- Cut his Rigetti stake by about 5%.
The article notes that Palantir has become the most expensive stock in the S&P 500 on a price‑to‑sales basis, with a P/S multiple over 100x, several times higher than the next‑priciest component, and warns that such an extreme valuation may be “unsustainable” even for a fast‑growing AI leader. [20]
6. Institutional ownership is high — and some funds are taking profits
Several fresh 13F updates published this morning show how smaller institutions are reacting to Palantir’s run‑up:
- Schwarz Dygos Wheeler Investment Advisors LLC
- Cut its PLTR stake by 73.5% in Q2, selling 20,350 shares and ending the quarter with 7,337 shares worth about $1.0 million. [21]
- Donoghue Forlines LLC
- Trimmed its position by 26.4%, selling 7,103 shares and holding 19,817 shares worth roughly $2.7 millionat quarter‑end. [22]
- Fox Run Management L.L.C.
- Opened a new position of 1,702 PLTR shares, valued around $232,000. [23]
Across these filings and related reports:
- Institutional investors control about 45–46% of Palantir’s float. [24]
- Insiders still own roughly 9% of the company but have sold around 1.5 million shares (~$234 million) over the past 90 days, largely via planned sales by senior executives like Ryan D. Taylor, Shyam Sankar, and CFO David Glazer. [25]
The takeaway: wall‑street ownership is deep but not unanimous — some funds are scaling back after the rally, while others are initiating or adding exposure.
7. Wall Street loves the growth but is split on the valuation
Fresh research and ratings updates this morning underline a familiar theme: great business, controversial price.
- A new TipRanks article spotlights Freedom Capital Markets analyst Almas Almaganbetov, who raised his price target on PLTR from $125 to $170 after Q3 but kept a Sell rating, arguing the stock is “priced for perfection” and that U.S. commercial growth and defense budgets could normalize beyond 2026. [26]
- TipRanks aggregates 11 Hold, 3 Buy, and 2 Sell ratings, for an overall “Hold” consensus and an average one‑year target of about $187.87 — roughly 9% upside from recent levels. [27]
- MarketBeat’s broader survey similarly shows a Hold consensus with an average target near $172, very close to where Palantir closed on Thursday, and notes a trailing P/E above 400 and PEG ratio above 7. [28]
- Bulls like Wedbush’s Dan Ives have set targets around $200 and describe Palantir’s AIP platform as the “gold standard” for enterprise AI deployments, while more cautious firms such as Royal Bank of Canada maintain “underperform” ratings even after hiking their targets. [29]
Several recent analyses emphasize that even after the pullback, Palantir trades at P/E and price‑to‑sales multiples dozens of times higher than the average software peer — a key reason why any hint of slowing growth, or rising rates, can trigger abrupt sell‑offs. [30]
8. Stock‑split buzz: Canadian receipts split today, but U.S. PLTR has notsplit
You’ll likely see “Palantir 4‑for‑1 split” headlines in your feed today — but here’s the nuance that matters for U.S. traders:
- CIBC has announced a 4‑for‑1 split of its Palantir Canadian Depositary Receipts (CDRs), which trade in Canada under a symbol such as PLTR.CA. Those CDRs started trading on a split‑adjusted basis today, November 14, 2025, after the subdivision of existing receipts following the close of trading yesterday. [31]
- This split does not change the number of underlying Palantir Class A shares trading on the Nasdaq under ticker PLTR, nor does it directly alter Palantir’s market capitalization or fundamentals.
As of early November, multiple articles — including coverage of Palantir’s record rally and Q3 preview — noted that a U.S. stock split was widely speculated but not officially announced, even as analysts like Wedbush’s Dan Ives called a split “highly likely” given the high share price and retail interest. [32]
Bottom line for today:
- Yes, Canadian investors in Palantir’s CDRs are seeing a 4‑for‑1 split.
- No, there has been no confirmed split of Nasdaq‑listed PLTR shares as of this morning.
9. Macro headwinds: tech sell‑off and rate worries are hitting high‑flyers like Palantir
It isn’t just Palantir that’s wobbling. Across the market:
- U.S. stock futures are pointing lower this morning, with Investopedia highlighting that futures were down as traders reassess the odds of near‑term Fed rate cuts after hotter‑than‑expected data, weighing heavily on high‑growth tech. [33]
- A ChartMill market wrap notes that tech stocks and other high‑multiple “story names” have been hit especially hard, specifically flagging Palantir’s 6.5% drop and a further pre‑market slide around 1–2% as part of a broader rotation out of richly valued AI plays. [34]
- Bloomberg’s coverage (syndicated via Yahoo Finance and curated by Finviz) describes a wave of “risk aversion”that is “sinking market high flyers” like PLTR as investors question how long AI‑driven valuations can stay elevated. [35]
Put together, Palantir is caught at the intersection of:
- Company‑specific debates over valuation, concentration in defense and U.S. commercial AI, and the sustainability of 60%+ revenue growth.
- Macro forces, including bond yields, Fed expectations, and sentiment toward expensive growth stocks.
10. What to watch in Palantir stock today
Heading into today’s session, here are the key cross‑currents that could drive PLTR:
- Price action vs. options expectations
- Options data show elevated activity around today’s expiry and, earlier this week, implied a single‑digit percentage “expected move” into Friday, reflecting heightened volatility but not outright panic. [36]
- Traders will watch whether the stock stabilizes around the mid‑$160s to low‑$170s zone or accelerates lower if selling pressure returns.
- Follow‑through from Burry and short‑interest headlines
- Any new commentary from Burry or other high‑profile bears (or a visible shift in short interest) could influence intraday volatility. [37]
- Reactions to Karp’s comments and the “patriotism” narrative
- Supporters see Karp’s stance as reinforcing Palantir’s identity as a national‑security and industrial AI champion; detractors worry it may polarize investors and regulators over time. [38]
- Analyst notes and media coverage
- Any surprise contract announcements
- Palantir has recently secured major wins like a $10 billion U.S. Army contract framework and expanded Veterans Affairs and U.K. defense engagements, and the stock increasingly reacts to large deal headlinesthroughout the quarter, not just at earnings. [41]
Final thoughts
Going into the November 14 session, Palantir is a classic high‑beta AI momentum stock under reassessment:
- Fundamentals: Revenue and profits are accelerating, guidance keeps moving higher, and commercial AI demand remains extremely strong. [42]
- Valuation: Depending on the metric, PLTR still trades at P/E and P/S ratios far above peers, making it unusually sensitive to macro jitters and any hint of slower growth. [43]
- Sentiment: An intense tug‑of‑war is playing out between bullish management and several prominent bulls on one side, and high‑profile skeptics like Michael Burry plus cautious analysts on the other. [44]
For traders and investors watching Palantir today, the key questions are less about whether the company is growing — it clearly is — and more about how much of that future growth is already priced in.
As always, this overview is for information only, not a recommendation to buy or sell any security. Consider your own risk tolerance, time horizon, and diversification before making decisions about PLTR or any other stock.
References
1. www.investing.com, 2. www.marketwatch.com, 3. www.tipranks.com, 4. www.reuters.com, 5. www.reuters.com, 6. finviz.com, 7. finviz.com, 8. finviz.com, 9. www.reuters.com, 10. www.reuters.com, 11. www.benzinga.com, 12. www.benzinga.com, 13. www.benzinga.com, 14. finviz.com, 15. www.benzinga.com, 16. www.benzinga.com, 17. www.benzinga.com, 18. coincentral.com, 19. www.nasdaq.com, 20. www.nasdaq.com, 21. www.marketbeat.com, 22. www.marketbeat.com, 23. www.marketbeat.com, 24. www.marketbeat.com, 25. www.marketbeat.com, 26. www.tipranks.com, 27. www.tipranks.com, 28. www.marketbeat.com, 29. www.investors.com, 30. finviz.com, 31. www.barchart.com, 32. www.investors.com, 33. www.investopedia.com, 34. www.chartmill.com, 35. finviz.com, 36. optioncharts.io, 37. www.benzinga.com, 38. www.benzinga.com, 39. www.zacks.com, 40. finviz.com, 41. www.reuters.com, 42. www.reuters.com, 43. finviz.com, 44. www.benzinga.com
