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Why Palantir Stock Is Sinking Today

TheMotleyFool

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Palantir (NASDAQ: PLTR) stock is losing ground in Friday's trading. The company's share price was down 4% at 12:40 p.m. ET despite the S 500 and the Nasdaq Composite being up 0.7% and 0.5%, respectively, at the same point in the day's trading.

Palantir's valuation is retreating a bit today as investors take profits after an incredible bull run. Recent news that the U.S. defense budget will be slightly smaller this year than last may also be a factor.

Image source: Getty Images.

Source Fool.com

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