Palantir Technologies stock has been stellar in 2024. That has some bears sniffing around. Shares of the data analytics company are up about 150% this year, crushing the Nasdaq Composite’s 23% rise. Gains have left shares trading for about 108 times Wall Street’s estimated earnings expected over the coming 12 months,

A growing number of investors are shorting the stock of data analytics firm Palantir ($PLTR), which is a bet that the share price will decline.

Palantir Technologies (PLTR) stock is now at a peak price, pushing its put option premiums very high. Deep out-of-the-money (OTM) puts in near-term expiry periods are trading at high yields, making them worth shorting.