Palantir Technologies (PLTR), a leader in AI technology, faces a $912 million put option bet from Michael Burry, causing its stock to drop 7.94%. Despite record earnings, Palantir’s valuation is sky-high, with multiples reminiscent of the dot-com bubble. The company’s Q3 earnings exceeded expectations, with revenue up 62.8% and a record $2.76 billion in total contract value. Analysts predict substantial earnings growth in the coming years, but the stock is currently rated a “Hold” by most analysts, trading below the average price target of $191.44. The stock has a Street-high target of $255, reflecting potential for a 50% gain.

Read more at Barchart: Michael Burry Is Betting Against Palantir Stock. At Least 1 Analyst Thinks It Can Gain 50% from Here.