Reported 1 day ago
Palantir stock (PLTR) fell 10% for the second consecutive day after a Washington Post report indicated that the Trump administration is planning significant cuts to the defense budget over the next five years. This news casts doubt on the company's revenue, which is heavily reliant on government contracts. Defense Secretary Pete Hegseth suggested an annual budget cut of 8% could lead to tens of billions in reductions. While analysts express confidence in Palantir's long-term prospects and ability to adapt, the immediate market reaction has been negative.
Source: YAHOO