Barry’s Stock Positions and Market Commentary
On Friday, Barry shared details in a Substack post about two put option positions he holds in a specific company. One is a exercised put at $50, expiring on June 17, 2027, and the other is a $100 exercised put set to expire on December 19, 2026. He noted, “I will not be selling these today.”
Meanwhile, President Trump posted on Friday that Palantir is recognized for its “excellent combat ability and equipment.” Despite a temporary recovery in the market, Palantir’s stock is projected to fall about 13% for the week, bringing its loss for 2026 to approximately 28%. On Friday, the stock was trading at around $127.
Mr. Berry stated that he believes Trump’s backing is merely temporary. “Following an 18% drop over the last three days, Trump’s post lifted stocks. Perhaps this could be where they get some momentum,” he expressed. He continues to hold the put options, stating that he thinks the company’s fundamental value is much lower than $50 per share.
Barry mentioned that his initial short position began in the fall of 2025 and has been revised various times since. Even though the stock has decreased from its peak of about $200 a year ago, Barry considers it to be “hugely overvalued” at its current price.
On the same day, Barry indicated he had further solidified his bearish stance, having acquired a $115 strike price put option for Nvidia, set to expire in January 2027, costing $3.30 per contract.
Throughout the year, Palantir’s ties to the Trump administration have been scrutinized. During Trump’s second term, it was noted by CNBC that CEO Alex Karp maintained close connections with administration officials, securing new government contracts and enhancing relationships with the Pentagon.
Barry’s short position has previously sparked strong reactions from Palantir’s leadership. When Scion Asset Management first revealed its short positions in Palantir and Nvidia, Karp labeled the trade as “super weird” and “batshit crazy.”
Earlier this month, Palantir’s stock dropped around 8% after Barry made some claims in a now-deleted post. Barry pointed to annual recurring revenue figures, asserting that the market for enterprise AI spending is set to grow from $9 billion to $30 billion in just a few months. He contrasted this with his own experience, saying that it took him 20 years to reach $5 billion in revenue. The core of Barry’s argument lies in the observation that Palantir operates more like a professional services firm, embedding engineers at client locations for extended periods, rather than offering software products for independent deployment.
