WASHINGTON, DC - SEPTEMBER 13: X/Tesla CEO Elon Musk (L) and Palantir CEO Alex Karp attend the "AI Insight Forum" in the Kennedy Caucus Room in the Russell Senate Office Building on Capitol Hill on September 13, 2023 in Washington, DC. Lawmakers are seeking input from business leaders in the artificial intelligence sector, and some of their most ardent opponents, for writing legislation governing the rapidly evolving technology. Photo by Chip Somodevilla/Getty Images
The correction in selected tech stocks last Tuesday stemmed from big bets by some bears. The news came out then that Michael Burry’s Scion Asset Management placed bearish bets on Nvidia (NVDA) and Palantir Technologies (PLTR) via put options. The news is good on both stocks, so I look forward to “squeezing” Michael Burry, since I have great confidence on those two stocks.
Louis Navellier
Author
Louis Navellier is chairman and founder of Navellier & Associates in Reno, Nevada, which manages approximately $1 billion in assets. One of Wall Street’s renowned growth investors, Navellier writes five investment newsletters focused on growth investing. In addition to appearing on Bloomberg, Fox News, and CNBC giving his market outlook and analysis, he has been featured in Barron’s, Forbes, Fortune, Investor’s Business Daily, Money, Smart Money, and The Wall Street Journal.
