Why Palantir Stock Is Sinking Again Today
Despite a day of gains for the broader market, Palantir (NYSE: PLTR) stock is falling again. The data analytics company's share price was down roughly 4.2% as of 2:40 p.m. ET Friday. Meanwhile, the S&P 500 index was up roughly 1.9%, and the Nasdaq Composite index was up roughly 1.1%.
Palantir shareholders have had a rough go of things lately, and today's sell-off appears to be driven by a recent filing with the Securities and Exchange Commission (SEC). CFO David Glazer submitted a filing on Thursday showing that he had sold some of his stock in the company, and investors seem to think it's a bad sign.
Glazer's filing with the SEC shows that he sold a combined 201,190 shares from Tuesday through Thursday, or about $2.1 million worth of stock. An executive selling stock doesn't necessarily mean that the underlying company is in trouble, but Palantir shareholders have had a multitude of bearish catalysts to weigh recently, and investors are jumpy.
Source Fool.com
