Why Palantir Stock Is Plummeting This Week and Could Fall Further
Shares of Palantir (NYSE: PLTR) are sinking again in this week's trading. Heading into this Friday's market open, the big-data specialist's stock was down roughly 8.4% from last week's close, according to data from S&P Global Market Intelligence.
Facing high inflation, looming interest rate hikes, and ongoing developments related to Russia's invasion of Ukraine, risk-off sentiment has gripped the market lately and led to big pullbacks for companies trading at growth-dependent valuations. While there aren't any new business-specific developments pushing Palantir's valuation lower, the company's share price is participating in the broader market's sell-off.
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Source Fool.com
