Palantir Technologies' post-earnings rally generated roughly $3 billion in mark-to-market losses for short sellers, according to S3 Partners data. The stock surged 30% on Tuesday, its strongest daily performance in about two years, erasing bears' entire 2026 paper profit after they had accumulated approximately $2.7 billion in year-to-date gains before the earnings report. The rally followed Palantir's announcement of second-quarter revenue of $1.94 billion, up 93% year over year and 19% sequentially, with GAAP earnings of $0.41 per share. Despite the squeeze, the stock remained roughly 10% lower for the year, and Michael Burry maintained his bearish position, reflecting ongoing valuation concerns. Wall Street remains predominantly positive, with 20 of 32 recent analyst recommendations rated Buy or Strong Buy.
Palantir Technologies Inc.Post-earnings rally driven by strong Q2 revenue and earnings, causing short squeeze and gains for the stock.
