Palantir Stock Rises Despite Michael Burry’s Criticism Amid Strategic Partnership with PwC
Palantir Technologies (PLTR) saw its stock rise by approximately 8% on Thursday, recovering from a nearly 6% drop in the previous session. The rebound came despite renewed bearish commentary from short-seller Michael Burry, who highlighted concerns about Palantir's financial health and business practices. Burry pointed to growing accounts receivable outpacing revenue growth over nine of the last twelve quarters, rising days sales outstanding, and a large customer contributing 25% of receivables but less than 10% of revenue. He also compared deferred revenue trends with consulting firms rather than SaaS peers. The stock's rise was driven by an expanded strategic alliance between Palantir and PwC US to develop an AI-native deals platform, which aims to speed up transactions and reduce costs.
Tickers: $PLTR
Topics: AI FOMO Michael Burry Palantir receivables short-selling