Reported 2 days ago
Palantir Technologies' stock fell 10% after CEO Alex Karp announced a plan to sell nearly 10 million shares, signaling potential overvaluation. This drop follows reports of a significant cut in defense spending that could impact the company's government contracts. Additionally, the firm raised concerns in its annual report about slow headcount growth and increased reliance on major clients for revenue, leading analysts to question its previously buoyant stock performance.
Source: YAHOO