In partnership with
Good morning.
Markets are opening deep in the red this morning, and it's getting messy fast. Nvidia down 2.32% premarket, Palantir down 8.25%, Google down 2.46%, Tesla down 3.49%, AMD down 3.60%. The carnage is spreading across every major AI name.
The catalyst? Michael Burry (the guy who called the 2008 housing crash) just revealed he's shorting both Palantir and Nvidia. Palantir CEO Alex Karp went on CNBC this morning and called Burry's strategy "bat**** crazy" on live television. Watch the full clip here.
What’s wild though is that Burry posted just recently saying he wasn't betting against the AI bubble. Now he's entered massive short positions that do exactly that. Is he early (which is the same as being wrong when you're shorting)? Or is this the canary in the coal mine?
Meanwhile, Amazon surged 4% after striking a $38 billion deal with OpenAI to supply hundreds of thousands of Nvidia GPUs through AWS. So while Burry's shorting AI infrastructure, Amazon and OpenAI are obviously doubling down on it.
One of these bets will look genius in six months. The other will look insane. The question is: which one?
Let's get into it.
In partnership with Rippling
CTV ads made easy: Black Friday edition
As with any digital ad campaign, the important thing is to reach streaming audiences who will convert. Roku’s self-service Ads Manager stands ready with powerful segmentation and targeting — plus creative upscaling tools that transform existing assets into CTV-ready video ads. Bonus: we’re gifting you $5K in ad credits when you spend your first $5K on Roku Ads Manager. Just sign up and use code GET5K. Terms apply.
Please support our partners!
📰 Market Headlines
Markets closed mixed on Monday as AI optimism lifted tech stocks but dragged on industrials. Things are opening in the red today.
This has been a nasty morning for markets so far. NVDA was down 2.32% premarket, PLTR down 8.25%, GOOGL down 2.46%, TSLA down 3.49%, AMD down 3.60%... the list goes on (and on). Whether this is a sign of the end of this bull market or not, just remember: market corrections are normal, even if today doesn’t feel normal at the moment. What’s happening right now isn’t that crazy in the grand scheme of things, even if the specific details in this moment are a bit, shall we say, surprising (see below).
Palantir (PLTR) shares are in trouble thanks to Michael Burry. The company posted a double beat, generating better-than-expected earnings and revenue, and the stock’s price briefly rose in response. But the market’s concerns about overvaluation outweighed optimism for the stock in the end. Then Michael Burry (of The Big Short fame) posted that he has short positions against PLTR and NVDA, and Palantir shares fell by 14% ⬇
Palantir CEO Alex Karp responded on CNBC this morning by calling Michael Burry’s strategy of shorting PLTR and NVDA “bat**** crazy” on live TV.
Burry’s big short is especially interesting to us because he just recently made this post implying that he was not betting against the AI bubble, but now has entered some unbelievably large shorts that do directly bet against the market. Note that although Michael Burry did call the 2008 housing market crash correctly, he has been known to 1) make lots of market crash calls that don’t happen and 2) he very well could be early on this call like he was on the housing market crash. And being early is the same as being wrong when you’re shorting something. If you’re curious, here are the stocks that Burry does think will perform well →
BREAKING: Michael Burry just filed a portfolio update.
He entered massive options positions betting against Nvidia and Palantir.
He bought call options betting on Halliburton and Pfizer.
Full portfolio up on Quiver.
— #Quiver Quantitative (#@QuiverQuant)
9:49 PM • Nov 3, 2025
Spotify (SPOT) shares have been whipsawing this morning in premarket trading after the company posted positive earnings results. At first, the stock sank 3% between 4 AM and 6 AM (EST). Then it skyrocketed 9% between 6 AM and 8 AM. Now, the stock has come back down almost 8% between 8 AM and market open. After completely round tripping its upward move, the question is obviously “WHY?!” and our best guess is that general market sentiment is dragging the stock down at the moment. It will be interesting to see what SPOT does for the rest of the day.
Amazon surged 4% after announcing a $38 billion deal with OpenAI to provide hundreds of thousands of Nvidia GPUs through AWS. The seven-year agreement cements Amazon’s position in the AI infrastructure race and sent Nvidia shares up 2%.
😱 Fear & Greed Index
🤖 AI/Future/Tech News
Waymo expanded its robotaxi service to Detroit, Las Vegas, and San Diego, targeting 1 million weekly trips by 2026.
Nvidia-backed Lambda sealed a multi-billion-dollar deal with Microsoft to deploy tens of thousands of Nvidia GPUs, including GB300 NVL72 systems.
🚨 Top Trending Stocks on Reddit from AltIndex
These are the most-mentioned stocks on Reddit over the past 24 hours.
These aren’t too surprising, but to be honest, we wouldn’t have expected as much bullish sentiment as we’re seeing here. It’ll be interesting to see if that sentiment is bearish by the end of the day today or if the bulls prevail through the market chop we’re already seeing today.
🤫 Insider Trading
📊 IPOs and Earnings
Diamondback beat Q3 expectations, topping the $2.85 consensus, and shares sank 1.34%.
Public Service Enterprise Group delivered $1.13 adjusted EPS, topping analyst estimates of $1.02, with revenue jumping 22%; shares added 0.99%.
Hims & Hers posted strong Q3 revenue of $600 million, beating estimates of $580.2 million on a 21% subscriber growth boost, but missed on earnings with 6 cents per share versus the 10 cents expected; shares slipped 2.35%.
🚚 Market Movers
Samsung was slammed with a $191.4 million verdict after a Texas jury ruled the company infringed two OLED display patents.
The government shutdown has grounded 3.2 million airline passengers since October 1st, as air traffic controller staffing shortages tripled.
Fox News and Newsmax got duped by AI-generated videos depicting fake SNAP beneficiaries threatening to ransack stores.
Kraken expanded its EU derivatives platform to accept crypto collateral.
🎙 What Do You Think?
Is Michael Burry right or wrong?
🎤️ What you said last time
“Gold and silver forever and ever. Everybody since the dawn of time has been into them”
🧠 The Missing (Market) Links
A 17-year-old turned his Etsy profits into a $72,700 gain by betting on AI stocks at the perfect moment.
Twin sisters each invested $5,000 in a side hustle that grew to $95 million in sales after a viral Shark Tank deal.
A California vet quit her full-time job and doubled her income to $386,000 by picking up shifts through an app, calling it “less stress and more money.”
Sam Altman tweeted a single “!” and AI tokens jumped about 20% within an hour, sending traders into speculation mode.
The Trump administration will pay half of November’s SNAP benefits as the government shutdown enters its second month, affecting 42 million Americans.
📜 Quote of the Day
I’ve seen a lot more go to zero than infinity.”
📢 We want to hear from you.
We love hearing from you, and we deeply appreciate your feedback.
⭐️ What did you think of today's edition?
That’s all for today. Did we miss anything? Smash the reply button to let me know.
Cheers,
Brandon & Blake of Invested Inc
Thumbnail image: Wikimedia
The information provided in Stocks & Income is for informational and educational purposes only and should not be construed as financial advice, investment advice, or a recommendation to buy or sell any securities. Stocks & Income is not a registered investment advisor, broker-dealer, or licensed financial planner. Always do your own research and consult with a licensed financial advisor before making any investment decisions. We may hold positions in or receive compensation from the companies or products mentioned. Disclosures will be made where applicable.
Stocks & Income, AltIndex, Finance Wrapped, The Chain, and Future Funders are all owned by Invested, Inc.