Palantir Plummeted Today -- Is It Time to Buy the Artificial Intelligence (AI) Leader's Stock

Palantir (NASDAQ: PLTR) stock saw big sell-offs in Wednesday's trading. The software specialist's share price ended the daily session down 10.1% and had been off as much as 12.9% earlier in trading.Palantir stock saw a pullback early in today's trading following a disclosure yesterday that CEO Alex Karp plans to sell $1.2 billion in company stock. Sell-offs intensified late in the day's trading following a report from The Washington Post that suggested big defense spending cuts could be on the horizon. According to the report, Defense Secretary Pete Hegseth has instructed Pentagon officials to prepare for budget cuts that could come in as high as 8% annually over the next five years. With Karp laying the groundwork to move forward with a new stock-selling plan and the potential for Palantir to see weaker public-sector demand, investors got multiple bearish signals today. But even with the substantial valuation retreat, Palantir stock is still up roughly 360% over the last year.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool