Palantir Chief Executive Alex Karp criticized short sellers (investors who are betting that a company’s stock price will fall) in an interview with CNBC on Wednesday.
“I love burning short sellers,” Karp told CNBC’s Sara Eisen on “Money Movers.” “There’s almost nothing that gives me more pleasure than taking cocaine away from these short sellers. Yeah, they like to short a really great American company. Not just our company, but just like to bring down great American companies so they can pay for their own interests.” Coke. “
On March 6, Palantir’s stock price rose 9.8% after Palantir announced that its tactical intelligence target access node was online Selected by the U.S. Army. TITAN uses artificial intelligence to provide target information for missiles.
When a stock rises, short sellers buy back the stock, which can result in huge losses.
“The best thing for them is we’re going to direct their coke dealers to their homes after they can’t pay their bills,” Karp said. “You know, do your thing and we’ll do ours thing.”
Palantir shares are up about 47% this year. Approximately 5% of the company’s publicly traded outstanding shares were shorted as of the end of February.
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