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Why Palantir Technologies Stock Tanked as Much as 15% This Week

TheMotleyFool

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Why Palantir Technologies Stock Tanked as Much as 15% This Week: https://g.foolcdn.com/editorial/images/757535/a-binary-ai-matrix-showing-green-1s-and-zeros-against-a-black-background.jpg

Shares of Palantir Technologies (NYSE: PLTR) fell like a rock this week, tumbling as much as 15.4%, according to data provided by S&P Global Market Intelligence. As of 11:59 a.m. ET on Thursday, the stock was still down 14.9%.

The catalyst that sent the artificial intelligence (AI) and data mining specialist lower were concerns raised by a Wall Street analyst.

William Blair analyst and recent Palantir bear Louie DiPalma rocked the boat this week when he opined that one of the company's upcoming contract renewals could be disappointing. Palantir has a $458 million contract with the U.S. Army that is up for renewal later this month.

Source Fool.com

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