Why Shares of Palantir Fell in May
First-quarter results from Palantir Technologies (NYSE: PLTR) failed to live up to investors' lofty expectations. The stock fell as a result, with the shares down 16.5% for May, according to data provided by S&P Global Market Intelligence.
Palantir provides data analytics for government and commercial customers. It is best known for its defense contractor side, which famously was said to be involved in the capture of Osama bin Laden. The stock was a huge initial success following its September 2020 public debut, rising as much as 300% in the months that followed its IPO, but has steadily been losing steam over the past year.
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Source Fool.com
