Palantir stock has recently shed 20% since peaking at $190 a share earlier this month, according to Google Finance.
Palantir stock sank for a sixth straight day and entered bear market territory. This is the longest such streak for Palantir since April 2024, and brings shares down 20% from their highs.
Brent Thill, Jeffries tech research analyst, joins CNBC's 'Squawk on the Street' to discuss outlooks on Palantir, what's behind tech's pullback, and much more.
Artificial intelligence stocks, including Palantir Technologies Inc (NYSE:PLTR), Nvidia Corp (NASDAQ:NVDA, ETR:NVD) and Advanced Micro Devices Inc (NASDAQ:AMD, ETR:AMD), traded lower on Wednesday amid a broader tech-sector selloff, highlighting growing investor caution after an extended run-up in valuations. Palantir led the declines, tumbling 7.5% in early trading after a 9% drop on Tuesday, to trade hands at about $145.
Palantir Technologies Inc (NASDAQ:PLTR) stock was last seen down 7.5% at $145.98 and heading for its sixth-straight daily drop.
Shares of Palantir Technologies (NASDAQ:PLTR) plummeted 19.63% over the past five trading sessions, stalling a rally that has seen the stock gain 95.12% so far in 2025.
Can you believe it? Red-hot AI stock Palantir is dropping.
Jim Cramer's bullish call on Palantir (NASDAQ: PLTR) has quickly turned into a contrarian signal.
US commercial revenue surged 93% year-over-year in Q2 2025, proving Palantir's AI adoption is scaling structurally, not episodically. A $10 billion, 10-year U.S. Army contract cements government work as a stable and defensible long-term revenue base. The company generates FCF margins above 50%, validating an asset-light model that compounds growth without heavy infrastructure spending.
Palantir (PLTR) shares tumbled Tuesday afternoon, extending recent losses as a high-profile short seller fueled worries the stock could be overvalued after a strong run earlier this year.
Major U.S. equities indexes were mixed Tuesday as tech sector losses weighed on their performance. The S&P 500 ended the session 0.6% lower, while the tech-heavy Nasdaq dropped 1.5%.
The company's latest earnings report shows a company that's been hitting on all cylinders for quite some time. In the last three years, Palantir has delivered: