Trump Makes History With Presidential Stock Endorsement Amid Market Chaos

Presidential First Sparks Immediate Market Response

In an unprecedented move that sent shockwaves through Wall Street, President Trump became the first sitting president to publicly endorse a stock by ticker symbol, praising Palantir Technologies (PLTR) on Truth Social . "Palantir Technologies (PLTR) has proven to have great war fighting capabilities and equipment. Just ask our enemies!!!" Trump wrote, notably including the firm's stock ticker .

Within minutes, the company's share price ticked up roughly 3% from around $123 , providing temporary relief to a stock that had fallen 14-16% over the prior five days and was down as much as 6% on Friday alone before Trump's endorsement hit . However, shares still closed lower on the day at $128.06 , illustrating the limits of even presidential influence in volatile markets.

Senator Mark Warner (D-Virginia) was among the first to flag the post, asking on X: "Is this another blatant example of Trump manipulating markets?" The criticism reflects growing concerns about the intersection of political power and financial markets, particularly given the deep ties between Trump's administration and Palantir, including co-founder Peter Thiel's role as a longtime Trump mega-donor and CEO Alex Karp's $1 million contribution to MAGA Inc.

The Bigger Picture Behind the Plunge

The selloff had less to do with Trump than with Anthropic and a broader rout across the software sector. On April 7, Anthropic released Claude Mythos Preview, a frontier AI model that spooked investors who had been pricing enterprise software companies like Palantir as AI beneficiaries immune to disruption . Separately, Anthropic's annual recurring revenue had surged from $9 billion at the end of 2025 to $30 billion by early April, raising urgent questions about whether Palantir's premium valuation could hold .

Palantir has been hit hard alongside other software stocks by growing concerns about how AI could impact the industry's future. Its share price has fallen 14 percent this week and about 24 percent since the beginning of the year . This decline reflects broader market anxieties about whether current AI valuations can withstand competitive pressures from more agile, cost-effective alternatives.

The Pentagon blacklisted Anthropic in March after the AI lab refused to lift safety guardrails on its Claude models for autonomous weapons and mass surveillance. That forced Palantir to begin removing Claude from its Maven Smart Systems platform—the backbone of its military AI work , creating operational challenges for the defense contractor at a critical moment.

Michael Burry Doubles Down on Bearish Bet

While Trump's endorsement provided momentary support, Michael Burry, the investor of "Big Short" fame, said in a Substack post Friday that he continues to hold long-dated put options on the artificial intelligence software firm. Burry said he started betting against the company in the fall of 2025 and has repeatedly rolled the position .

"I now own the June 17 2027 Strike Price 50 Puts and the Decembers 19, 2026 Strike Price 100 Puts. I am not selling these today," Burry wrote . The famed investor said the stock has weakened since reaching a peak near $200 last year and remains "wildly overvalued." While acknowledging the possibility of a near-term rally, Burry contended that the company's fundamental value is less than half of what it's worth now .

As of April 10, 2026, regulatory filings and public statements indicate that Burry has established a nearly $1 billion notional short position through long-dated put options , representing one of the largest bearish bets against a single company in recent memory. Burry maintains that "the fundamental value of this company is well under $50/share" compared to current levels around $128.

A Test Case for Presidential Market Influence

This isn't Trump's first time moving markets from his phone. Last month, he announced a pause in strikes on Iran before market open, causing oil prices to swing sharply. More than $760 million in oil futures traded within two minutes, roughly 15 minutes before Trump's Truth Social post about pausing strikes .

The White House Management Office sent a staff-wide email warning employees against using nonpublic information to place trades in financial markets or on prediction platforms, calling it a "criminal offense" , highlighting growing institutional awareness of the market impact potential.

The Palantir episode reveals the complex dynamics at play when presidential communications intersect with market forces. While Trump's endorsement demonstrates the power of political influence over stock prices, the broader competitive pressures facing Palantir suggest that even