Why Palantir Stock Fell Again Today
The stock market has gotten off to a rocky start in 2022, and Tuesday delivered another day of sell-offs and a 1.8% drop for the S&P 500 index. Amid the turbulent backdrop, Palantir (NYSE: PLTR) stock closed out the day down 6.5%.
There wasn't any company-specific news driving the big-data company's most recent slide, but growth-dependent technology stocks have had a rough go of things lately due to a multitude of macroeconomic risk factors, and these were once again highlighted in Tuesday's trading. With Treasury bond yields hitting a two-year high in the session, investors continued to adjust in preparation for a more challenging environment for growth stocks, and Palantir lost ground.
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Source Fool.com
