Memories can become short when markets get turbulent. Palantir Technologies (PLTR 5.57%) was at an all-time high less than a month ago, but has quickly tumbled approximately 30% since its peak as the broader Nasdaq Composite has entered a correction.
Palantir stock (NASDAQ: PLTR) crashed below the critical $100 support level on February 24.
Palantir Technologies Inc PLTR has been on a wild ride – up 215.99% over the past year, but down 33.51% in just the last month. The stock is now stuck below its key moving averages, flashing strong bearish signals.
Heineken and Walgreens were among the new customers the analytics software developer revealed late Tuesday.
Two of the market's most popular artificial intelligence (AI) stocks have been heavily sold off over the past few weeks. At the time of this writing, Nvidia (NVDA 1.66%) and Palantir Technologies (PLTR 2.19%) were down 25% and 32%, respectively, from their all-time highs.
Is the party finally over for the shares of Palantir Technologies (PLTR 1.98%)? It took just over two years for the stock to rise from the $6 per share range to the all-time closing high of $124.62 per share.
Palantir (PLTR) has fallen nearly 40% off its all-time high. Rick Ducat points to a noteworthy level on the chart around $78, as shares of PLTR have fallen below 2 important moving average studies.
Wedbush analyst Dan Ives sees now as a good time to snap up shares in some beaten-down names.
Nvidia (NVDA -5.07%) and Palantir (PLTR -10.05%) are two of the best-known artificial intelligence stocks, but only one can win this head-to-head battle.
Palantir's recent selloff, driven by high valuation multiples and budget cuts, presents a buying opportunity due to its strong fundamentals and government contracts. Despite a 40% drop from its peak, Palantir's AI platforms and government efficiency efforts suggest long-term growth potential. Palantir's Q4 results show robust growth in government and commercial segments, with significant contract values and revenue increases.
Palantir (PLTR -10.05%) was one of the biggest winners of 2024 on the stock market, delivering a monster gain of 341%.
Shares of Palantir Technologies (PLTR -11.17%) are plummeting on Monday. The company's stock lost 11.1% as of 2:20 p.m.