Kevin Dietsch
Recently, we closed our short position in Palantir (NASDAQ:PLTR) after its stock rallied by around 40% since early April when our last article about it went live. We closed the position at a loss after the stop-loss
Palantir: We Were Wrong
Summary
- We closed our short position in Palantir at a loss.
- We believe that we were wrong on the timing and not on the idea itself.
- However, it’s important to always remember that the market can be irrational longer than you can stay solvent.
- We rate Palantir as a SELL since the company is extremely overvalued and investing in it right now offers minimal margin of safety.
Bears of Wall Street is a community of asset managers and traders who take a pragmatic approach to valuing companies. Bears of Wall Street provide unique research with a bearish sentiment on overvalued or weak companies with declining businesses and poor growth perspectives - companies whose likely depreciation can be capitalized on.
Analyst’s Disclosure: I/we have no stock, option or similar derivative position in any of the companies mentioned, and no plans to initiate any such positions within the next 72 hours. I wrote this article myself, and it expresses my own opinions. I am not receiving compensation for it (other than from Seeking Alpha). I have no business relationship with any company whose stock is mentioned in this article.
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