Palantir, $PLTR, CEO has said that short sellers bet against great companies 'so they can pay for their coke'

Palantir, $PLTR, CEO has said that short sellers bet against great companies 'so they can pay for their coke,' per CNBC.


"I take great satisfaction in squeezing the short sellers," Karp told CNBC's Sara Eisen on "Money Movers." "There's almost nothing that brings more joy than taking profits away from these short sellers, who bet against a truly exceptional American company. They not only target us but also love to bring down other great American companies to finance their habits."

Palantir's stock surged 9.8% on March 6 following the announcement that its Tactical Intelligence Targeting Access Node was chosen by the U.S. Army. TITAN utilizes artificial intelligence to provide targeting data for missiles.

When a stock price rises, short sellers are forced to buy back shares, potentially at a significant loss.

"Their best hope is that we'll lead their dealers to their doorsteps after they can't cover their losses," Karp remarked. "Let them do their thing, and we'll do ours."

Palantir's shares have increased by approximately 47% this year. As of late February, about 5% of the company's publicly available shares were being sold short.

Karp also mentioned to CNBC that the company has lost employees and anticipates further departures due to his public support for Israel.

Palantir, recognized for its government contract work in defense and intelligence, has provided its technology to aid the Ukrainian and Israeli militaries in their respective conflicts.