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Short-seller Andrew Left says OpenAI's $500 billion valuation proves Palantir stock is way too expensive
Citron Research, the firm led by short-seller Andrew Left, unpacked its bear case for Palantir, using OpenAI to show why it may be highly overvalued.
On August 18, Left's investment firm, Citron Research, published a note on Palantir stock, holding it up against another AI titan to illustrate why its high valuation should be alarming to investors. In a Fox Business appearance last week, Left discussed his Palantir short position, stating that the stock wouldn't become cheap until it reached a price range of $40-$50 per share. "Its new $500 billion valuation provides a true benchmark for evaluating Wall Street's favorite trading stock, Palantir, a company now detached from fundamentals and analysis, ironically the very services it claims to offer," Citron stated.
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