Why Palantir Technologies Fell This Week
Week to date, shares of Palantir Technologies (NYSE: PLTR) are down 15% through Thursday's market close, according to data provided by S&P Global Market Intelligence.
The stock has more than doubled year to date, but it tumbled following a disappointing second-quarter earnings report earlier this week that didn't meet revenue growth expectations.
After falling to new lows last year, the stock took off following a better-than-expected first-quarter earnings report in May. But the stock might have gotten ahead of itself over the last few months. The provider of artificial intelligence (AI) software reported that revenue grew 13% year over year. Growth came in below estimates, despite strong customer demand for the company's AI platform.
Source Fool.com
