Why Palantir Stock Is Plummeting This Week
Shares of Palantir (NASDAQ: PLTR) are seeing big sell-offs in this week's trading. The stock's price is down 14.6% from last week's market close, according to data from S&P Global Market Intelligence.
Meanwhile, the S 500 index is down 0.4% over this stretch, and the Nasdaq Composite index is down 0.7%. The market is closed today in remembrance of President Jimmy Carter.
Macroeconomic conditions and indicators have shifted in a more bearish direction this week, spurring big sell-offs for Palantir and other growth stocks. The software specialist's valuation also took a step back due to bearish analyst coverage.
Source Fool.com
