Why Palantir Stock Is Up Today
Shares of Palantir Technologies (NYSE: PLTR), the IT defense contractor, dropped hard earlier this week after analysts at Citigroup downgraded the stock to a sell rating with a $15 price target. Palantir had been trading north of $26 at the time, but investors were spooked by the megabank's negative tone, and spent the next two days selling off the stock, eventually sending it down nearly 5%.
Today, however, with the panic subsiding, investors are returning to Palantir in droves, and the stock was up 6.4% by 11 a.m. EST, above where it was when the sell-off started.
Image source: Getty Images.
Source Fool.com
