Reported about 1 month ago
Billionaires, including Palantir co-founder Peter Thiel, have been selling off significant shares of the software company, raising concerns among investors. Thiel recently divested approximately $1 billion worth of stock but still retains a substantial stake, owning about 104 million shares valued at around $4.4 billion. Additionally, the hedge fund Renaissance Technologies trimmed its holdings but remains heavily invested in Palantir. While the stock has surged 150% this year, its high valuation might warrant caution, although these sales appear to reflect profit-taking rather than a lack of confidence in the company’s future.
Source: YAHOO