Overview

• Citron founder Andrew Left told Fox Business that he is shorting Palantir and added to his position after the company’s Q2 earnings release.
• Palantir notched its first $1 billion revenue quarter and pushed closed total contract value to a record $2.27 billion, topping Wall Street estimates.
• Left characterized the stock’s multiples as “absurd,” citing roughly an 80x price-to-sales ratio and a 290x forward price-to-earnings ratio.
• The shares have climbed about 144 percent this year and maintain strong momentum driven by a large retail following that could amplify short-squeeze risk.
• Left’s reputation is contested due to past high-profile short campaigns and ongoing legal actions alleging market manipulation and securities fraud.