Reported about 7 hours ago
Palantir Technologies Inc. is facing a significant decline in its stock following announcements of potential cuts to US military spending, which could impact its revenue from government contracts. Despite recent growth amid the AI boom, analysts remain skeptical about the company's high valuation, trading at over 170 times estimated earnings. Investors are awaiting further clarity on the defense budget, as Palantir's unique position within the tech industry may not shield it from the effects of federal spending cuts.
Source: YAHOO