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00:02Palantir Technology shares fell as much as 8.1% in pre-market trading on Tuesday
00:06as investors questioned its $488 billion valuation
00:10and the sustainability of the AI rally, according to Bloomberg.
00:13Michael Burry's scion asset management disclosed bearish bets on Palantir and NVIDIA
00:17through put options that gained value as their shares fall.
00:21Burry, known for the big short, bore retail investors on X about growing market exuberance,
00:25advising that sometimes the safest move is to avoid participating.
00:28Analyst Gil Lurie said Palantir's valuation is disengaged from fundamentals,
00:33signing its rapid growth and unprecedented market levels.
00:36CEO Alex Karp called the company's performance arguably the best results
00:39any software company has ever delivered,
00:41and acknowledged that its valuation had reached a nosebleed zone.
00:45Palantir's stock surged over 170% this year to a record high,
00:49giving you the highest price-to-sales ratio in the S&P 500 at 85.
00:53For all things money, visit Benzinga.com.
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