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Why Palantir Stock Is Plunging Today

TheMotleyFool 
0 0 09.06.26
Why Palantir Stock Is Plunging Today: https://g.foolcdn.com/editorial/images/873726/gettyimages-509051302.jpg
 

Palantir (NASDAQ: PLTR) stock is getting hit with another round of sell-offs and was down 4% in Tuesday's trading as of 2:05 p.m. ET. Meanwhile, the S 500 was down 0.9%, and the Nasdaq Composite was down 2.1%. The stock had been off as much as 6.7% earlier in today's trading and is currently down 26% year to date.

Palantir is losing ground today in conjunction with news suggesting that the company could be in danger of losing a contract with the U.K.'s National Health Service. Along with that business-specific pressure, the stock is also seeing selling action connected to concerns about valuations for artificial intelligence (AI) stocks, macroeconomic risks, and SpaceX's June 12 IPO.

Image source: Getty Images.

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Source Fool.com

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