Reported 15 days ago
Palantir Technologies' stock saw a decline after a significant bull run, as investors began to take profits following the company's announcement of a Nasdaq listing and expected inclusion in the Nasdaq-100. CEO Alex Karp also sold 4.5 million shares as part of a pre-scheduled plan. The stock's recent growth, over 250% this year, raised its market cap to nearly $150 billion, making it appear overvalued based on traditional metrics. A pullback was deemed likely, even with the company's promising future.
Source: YAHOO