Why Palantir Stock Dropped at the Open Today
Wall Street hates uncertainty. And sure enough, a management shake-up at Palantir Technologies (NYSE: PLTR) just days before the company's earnings release caused a stir among investors, sending the shares down as much as 6.9% on Friday morning.
Palantir makes data analytics software used by government and commercial customers. The company debuted on public markets to great fanfare back in late 2020, but has struggled to keep that momentum going over the past year.
In a regulatory filing overnight, the company disclosed that on Jan. 29 Chief Accounting Officer Jeffrey Buckley announced plans to step down as soon as Palantir's 2022 10-K is filed. Controller Heather Planishek will succeed Buckley, with the outgoing exec planning to stay on board to assist with the transition.
Source Fool.com
