Why Rivian and Palantir Are Falling in Monday's Stock Market Drop
Investors are dealing with a change in the mood of the market that many have never seen before. For years, the mentality on Wall Street has been that when share prices dip, it's a good time to buy. However, that approach hasn't delivered the quick payoff that it did throughout much of the 2010s, and that's leaving many market participants uncertain about what to do. That has helped contribute to ongoing losses in major market benchmarks that continued Monday morning. As of 7:30 a.m., futures on the Dow Jones Industrial Average (DJINDICES: ^DJI) were down 541 points to 32,268. S&P 500 (SNPINDEX: ^GSPC) futures had dropped 82 points to 4,038, while Nasdaq Composite (NASDAQINDEX: ^IXIC) futures had fallen 312 points to 12,384.
A couple of individual stocks stood out with even larger declines than the overall market. The drop in shares of EV specialist Rivian Automotive (NASDAQ: RIVN) had little to do with fundamental business performance, but they nevertheless hit shareholders hard. Meanwhile, Palantir Technologies (NYSE: PLTR) reported its latest financial results, and its investors didn't find everything they wanted to see in the report. You'll learn more about both companies below.
Shares of Rivian Automotive were down almost 16% in premarket trading on Monday. The news came as ordinary investors pondered what those who got in on the ground floor to invest in the electric truck specialist might do with their shares.
Source Fool.com
