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Short-Sellers Reap $1.6B Amid Palantir’s Tech-Led Selloff
Short-Sellers Reap $1.6B Amid Palantir’s Tech-Led Selloff
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BTCCSquare news:
Palantir Technologies (PLTR) has shed $73 billion in market value over six consecutive trading sessions, marking its steepest weekly decline since early 2023. The AI software firm’s 17% plunge from August highs delivered short-sellers $1.6 billion in paper profits—a modest consolation against $4.5 billion in year-to-date losses betting against the stock.
Despite the retreat, Palantir remains 2024’s top S&P 500 performer with 106% gains. Its valuation multiples had forced many bears to capitulate during the rally, with Interactive Brokers’ Steve Sosnick likening the squeeze to "a freight train hitting short positions." The current selloff mirrors broader sector rotation from high-growth tech names to value-oriented segments.
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