Reported about 5 hours ago
Palantir Technologies saw its stock price tumble by nearly 10% on February 24, 2025, extending a four-day decline sparked by worries over potential Pentagon budget cuts and their effect on the company’s revenue, primarily generated from U.S. government contracts. The stock has plummeted more than 25% since a Washington Post report revealed Secretary of Defense Pete Hegseth's plan to reduce the defense budget by 8% annually for the next five years, although certain areas like border operations and munitions acquisitions would remain protected from these cuts.
Source: YAHOO