Palantir In an interview with CNBC on Wednesday, CEO Alex Karp skewered short sellers, or investors who bet that a company’s stock price would fall.
“I love to burn short sellers,” Karp told Sarah Eisen on CNBC’s “Money Movers.” “Few things make a human being happier than taking a line of cocaine away from the short sellers who are trying to short a truly great American company. We’re not alone in our company, but we’re trying to make a great company so that they can pay their money.” Coke just likes to tear down corporate America.” “
Palantir stock rose 9.8% on March 6th after Palantir announced tactical intelligence targeting access nodes. selected by the US military. TITAN uses artificial intelligence to provide missile targeting information.
As the stock price rises, short sellers will be more eager to buy back the stock, potentially incurring huge losses.
“The best thing that can happen to them is that we direct their coke dealers to their homes after they can’t pay their bills,” Karp said. “You know, do your thing, we’ll do our thing.”
Palantir stock is up about 47% since the beginning of the year. As of late February, about 5% of the company’s outstanding publicly traded shares were sold short.
Karp also told CNBC that the company has lost employees and expects to lose more because of public support for Israel.
Palantir is known for its government contract work in the defense and intelligence fields, and has provided its technology to support the Ukrainian and Israeli militaries in their respective wars.
