Palantir Stock Drops Sharply Amid Broader Tech Selloff and Valuation Concerns
Palantir Technologies experienced a significant decline in its stock price, falling nearly 20% from its all-time high over the past week. The stock has been down for six straight trading sessions, marking its longest losing streak since April 2024.
The recent selloff is part of a wider pullback in technology and artificial intelligence-related stocks. Other major companies like Nvidia and Advanced Micro Devices also saw their share prices drop during the same period. Analysts point to concerns about high valuations in the tech sector as a key reason for the declines.
Some Wall Street firms have issued warnings about Palantir, with Citron Research projecting the stock could fall further. Increased options trading activity, particularly in put options, suggests that some investors are preparing for more downside.
Despite the recent drop, Palantir's stock had still gained nearly 95% earlier in the year before the current downturn.
Palantir's stock fell due to concerns over high valuations in the tech sector and a broader selloff in artificial intelligence stocks.
No, other big tech companies like Nvidia and AMD also saw their stock prices decline during this selloff.
It means the stock has fallen at least 20% from its recent high, which is often seen as a sign of a significant downturn.
Some analysts are cautious and even warn of further downside for Palantir, highlighting risks of continued price declines.
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