Here's Why I'm Avoiding Palantir Technologies Stock
Palantir Technologies (NASDAQ: PLTR) has been one of the top-performing artificial intelligence (AI) stocks in the market. It's up nearly 400% since the start of 2024 and is actually up around 10% for the year despite tumbling around 30% from its all-time high established in mid-February. Despite these returns, I want no part in Palantir stock right now.
This may come as a surprise, but I think the market has gotten ahead of itself with Palantir, and a further downturn could be right around the corner.
Palantir has been around for a long time, and its artificial intelligence (AI)-powered data analytics software suite has become quite popular. Originally, its products catered to the government, but its business expanded to include the commercial sector. This dual growth path worked out well for Palantir, as its revenue rose steadily since 2024.
Source Fool.com
