Why Palantir Stock Declined 13.5% This Week, Even as the Market Soared
Shares of big data analytics company Palantir Technologies (NYSE: PLTR) fell some 13.5% this week, according to data provided by S&P Global Market Intelligence, despite the broader markets finishing the positive week much higher.
As is usually the case with widely divergent results, the shortfall came on the heels of the company's earnings release on Monday, Aug. 8. Results and guidance underwhelmed, and the negative momentum appeared to outweigh otherwise positive market sentiment.
For the quarter ended June 30, Palantir reported 26% revenue growth to $473 million, with adjusted losses per share of $0.01. The revenue figure slightly beat analyst expectations, but the bottom line was a miss.
Source Fool.com
