PLTR: Why the Burry’s PLTR short won’t work?
I’ll tell you why Burry’s $Palantir Technologies Inc.(PLTR)$ short won’t work.
Actually, no PLTR short will work soon.
Those who are shorting the stock are the same idiots who shorted Bitcoin at $50k.
They don’t understand the nature of it.
PLTR isn’t about fundamentals or valuation, it’s an accord between the retail investors and the company.
Retail trusted it to be a vehicle for the redistribution of wealth.
They put their money in the stock, and never sold regardless of fundamentals, valuation etc, so the stock has consistently gone up.
Management accepted this as they are also mavericks, they remained loyal to the accord by not doing something stupid like fraud etc.
As the business also performed well, traders and institutions joined, creating immense wealth for the retail investors who entered the accord early.
Redistribution of wealth, just as what happened with Bitcoin.
Milennials agreed that it’s something valuable, and insisted, boomers eventually joined and the price exploded.
Who are the big individual holders? They are millennials who accumulated early.
PLTR is the stock market version of this.
This is why retail holders won’t sell because the valuation is off the roof etc.
This is what shorts don’t understand.
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