Why Palantir Stock Is Falling Today
Shares of Palantir Technologies (NYSE: PLTR) are falling today despite gains for the broader market. The company's stock was down roughly 4.8% as of 12:40 p.m. ET Wednesday in conjunction with the announcement of a new partnership with Jacobs Engineering Group (NYSE: J). Meanwhile, Jacobs' share price was up roughly 2.8%.
Palantir stock has been volatile in recent months and has seen particularly turbulent trading following its fourth-quarter report in mid-February, so it's difficult to say how much of today's movement is connected to the news of the Jacobs partnership or other catalysts at play.
It's possible that some investors see partnering with Jacobs -- rather than creating internally developed, fully owned solutions -- as a negative indicator about the company's growth prospects.
Source Fool.com
