Palantir Technologies is slated to post fourth-quarter results after Monday's closing bell, with traders expecting another big swing following the report.
At the close of trading on Jan. 29, shares of Palantir Technologies Inc. NASDAQ: PLTR were down 10.4% over the last five trading days. That extends the stock's year-to-date loss to 14.5%.
Palantir stock price has crashed into a technical bear market, moving from a high of $208 in November to the current $150. It has also formed a highly bearish chart pattern pointing to more downside in the near term as the company prepares for its earnings.
I believe Palantir's 20% post-Q3 selloff is irrational and mainly driven by the beta pressure of the software industry. I think the market has thrown out the baby with the bathwater. The upcoming earnings report could re-rate PLTR stock if the guidance surprises the consensus. To be clear, I strongly believe that enterprise AI adoption is hurting stocks like SAP. However, AI adoption is a tailw...
Palantir provides AI services to the U.S. Immigration and Customs Enforcement (ICE) agency. Controversy has followed ICE in recent weeks, and is weighing on Palantir's stock.
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