Palantir CEO, Alex Karp's Goal: Valuation Criticisms

Palantir Technologies Inc. (NASDAQ: PLTR) CEO Alex Karp took a strong stance defending the company’s operations against valuation critics. In his speech at the Yahoo Finance Invest Conference, Karp argued that analysts who rate Palantir shares as 'sell' at $6, $12, or $20 are mistaken, accusing these individuals of excluding ordinary Americans from a major technology success story.

Karp claimed that Palantir is one of the few companies that average Americans invest in. The remarks came after the CEO faced a notable decline in the company's value. Karp attributed this situation to 'market manipulation' by short-sellers, particularly criticizing Michael Burry. However, Dan Ives from Wedbush described Burry’s move as 'completely wrong.'

Burry revealed that his recent investment in 'put options' against Palantir amounted to $9.2 million and not the incorrectly reported $912 million. He created these options by purchasing 50,000 contracts at $1.84 set to expire in 2027.

Karp characterized the company’s third-quarter performance as 'the best results ever delivered by any software company.' In an interview at the conference, he defended against valuation critics by asking, 'How often have you been right in the past?'

According to Benzinga's Proprietary Edge Rankings, Palantir holds a momentum score of 95.22% and a valuation score of 0.42%. Karp emphasized that the company's technology is designed for ordinary American workers and military personnel, stating that it is used to improve people's lives in various professions and enhance the nation's defense capabilities.

The success story of Palantir has been linked to patriotism; Karp expressed that Silicon Valley focuses only on profit-generating ideas. The CEO stated, 'Patriotism is not only right but also makes you rich.' He also added that while wealthy bankers are stuck on the roads with upper-class cars, he thinks of workers who buy 'nice Teslas' with Palantir's earnings.