Technology

Palantir CEO Alex Karp attacks short sellers: 'They tear down great American companies to fund their cocaine'

Palantir CEO Alex Karp Attacks Short Sellers: 'Nothing is more satisfying than taking their cocaine away.' Stock jumps 9.8% after the US Army deal.

Eulerpool News Mar 19, 2024, 12:23 PM

Alex Karp, Known for His Unconventional Statements, Used Remarkably Vivid Language: "Almost Nothing Makes a Person Happier Than Taking Away the Cocaine Lines from These Short-Sellers." This Metaphorical Challenge Highlights His Contempt for Investors Betting on Falling Stock Prices.

Palantir Technologies' Shares Experienced a Remarkable 9.8% Surge on March 6th After It Was Revealed That the Company's Tactical Intelligence Targeting Access Node (TITAN) Was Selected by the US Military. TITAN, an Artificial Intelligence Application, is Used for the Provision of Target Information for Missiles. This Success Reflects Not Just the Military's Confidence in Palantir, but Also the Company's Resilience and Innovation Potential in a Highly Competitive Sector.

In the same week, Karp reiterated his criticism of short sellers in his CNBC interview with Sara Eisen on "Money Movers": "I love burning the short sellers." He expanded his previous remark by adding that these investors, who aim to bring down "great American companies" to fill their own pockets, deserved particular contempt. Palantir's success this year, with a stock increase of about 47%, underscores Karp's position. Around 5% of Palantir's freely tradable shares were shorted at the end of February, highlighting the significance of this confrontation.

Furthermore, Karp reported that Palantir has lost employees due to its public support for Israel and is likely to lose more. Palantir, known for its contract work in defense and intelligence, has provided its technology to support the military efforts of Ukraine and Israel in their respective conflicts. This disclosure sheds light on the complex geopolitical dimensions in which Palantir operates, and the profound decisions that the company must make in its pursuit of ethical responsibility and corporate growth.

Karp Ends with a Challenge and a Warning to His Opponents: "The best thing that could happen to them is for us to lead their drug dealers to their homes after they can no longer pay their bills. You know, do your thing, we'll do ours." This statement is not just another testament to his blunt rhetoric, but also a sign of the deep conviction behind the success of Palantir.

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