Why Palantir Stock Is Sinking This Week

Palantir Technologies (NASDAQ: PLTR) stock saw a big pullback this week on the heels of the company's third-quarter report. The company's Q3 results actually came in significantly above Wall Street's forecasts, but that hasn't been enough to stop its stock from seeing a substantial valuation pullback. As of 12:30 p.m. ET Friday, the artificial intelligence (AI) software leader's stock had fallen roughly 14% from its price at last week's market close. Palantir's stock is pulling back in this week's trading amid a rise in market skepticism about valuations in the AI space and macroeconomic concerns. News that "Big Short" investor Michael Burry's hedge fund has taken out put options on Palantir has also factored into the pullback.Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool