Why Palantir Technologies Stock Is Down Today
On Tuesday morning, Palantir Technologies (NYSE: PLTR) reported third-quarter results that ranked right up there with the best this period among defense IT companies. But it also didn't offer much reason to believe that investors will need to view it as anything other than a defense IT company any time soon.
Shares of Palantir fell by as much as 10% in morning trading, and were off by 8.8% as of 12:26 p.m. EST.
Palantir, best known as the company whose tech helped locate Osama bin Laden, went public about a year ago and immediately shot higher as the market considered the potential commercial-sector applications for its data analytics tools. Throughout its nearly two-decade history, it has been mostly focused on government contracts. But those tend to be low-margin contracts, and investors thus far have valued Palantir more like a commercial software vendor than a government-focused one.
Source Fool.com
