Why Are Palantir's Insiders Selling So Many Shares?
Palantir Technologies (NYSE: PLTR), the controversial data-mining firm that generates over half its revenue from government contracts, went public via a direct listing in late September. The stock opened at $10 a share on the first day, well above its initial reference price of $7.25, but it subsequently dipped and has stayed below $10 over the past month.
That lackluster debut likely disappointed investors, who had expected Palantir's stock to skyrocket like other recent tech IPOs. In addition, Palantir's insiders have sold 50.8 million shares, worth about $470 million today, since its public debut. Should investors worry about those big insider sales?
Image source: Getty Images.
Source Fool.com
