Burry's Bearish Bets Crushed by Tech Stock Surge

Michael Burry's short bets have taken a hit as several tech stocks rose in August. Palantir Technologies ([PLTR]) delivered the largest move against his positioning, increasing more than 50% during the month.

Burry had positioned for a decline using put options, but the stock defied expectations and moved sharply higher. This trend was echoed in other short exposures, with Nvidia NVDA gaining 10%, Micron Technology MU climbing 16.49%, Oracle ORCL rising 14.8%, CoreWeave (CRWV) adding 18%, and Nebius NBIS increasing 8%.

The August performance highlights the risks of taking contrarian trades when momentum remains strong in targeted stocks. These losses put pressure on several of Burry's bearish positions while rewarding some of his long selections.