Palantir Technologies Inc PLTR stock plunged 10% on Wednesday after CEO Alex Karp adopted a new trading plan to sell nearly 10 million shares over the next six months.
Palantir stock is continuing to slide Thursday as investors weigh a CEO stock sale and potential defense budget cuts. Here's what you need to know.
CNBC's Robert Frank reports on Palantir's new stock sale plan.
Shares of Palantir Technologies Inc (NYSE:PLTR) were down 12.2% in Thursday morning trading, extending losses after a Wednedsay evening report suggested potential US defense budget cuts and disclosures that CEO Alex Karp is set to sell nearly 10 million shares. The Washington Post reported that US defense spending could decline by 8% annually over the next five years, raising concerns about Palantir's revenue prospects.
Red arrows marked the start of Thursday's trading session. One of the largest red arrows was seen in Palantir (PLTR) as the Trump administration eyes Pentagon budget cuts.
Palantir Technologies (PLTR) has received quite a bit of attention from Zacks.com users lately. Therefore, it is wise to be aware of the facts that can impact the stock's prospects.
Shares dropped around 10% in Wednesday's session.
In the wake of Wednesday's plummet in Palantir (PLTR), Rick Ducat examines key technical points on the chart to monitor. Earlier this week, PLTR CEO Alex Karp disclosed in a company filing that he will have the ability to sell nearly 10m shares of company stock over the next 6 months.
Two things happened to bring down Palantir Technologies Inc. (NASDAQ: PLTR) stock yesterday.
Ahead of Thursday's open, Kevin Green focuses on 3 earnings movers: Walmart (WMT), Alibaba (BABA) and Carvana (CVNA). Despite the company hiking its dividend, WMT fell after topping Street expectations in its 4Q report.
With shares up 410% over the last 12 months, Palantir Technologies (PLTR -10.08%) has made its fair share of millionaires out of early investors. The data analytics company has become a Wall Street darling after incorporating generative AI into its business model.
Palantir Technologie s (NASDAQ:PLTR) continues to be one of the most impactful growth stocks in the market.