Last week, on the news that Michael Burry, the renowned investor of The Big Short fame, had put options on NVIDIA (NASDAQ: NVDA) and—more significantly—Palantir Technologies (NASDAQ: PLTR), tech stocks sold off amid concerns about record-high valuations and a rapidly expanding AI bubble.
As a result, the NASDAQ had its worst week since President Donald Trump’s Liberation Day tariff announcements in April, and the sudden market correction that followed.
