Palantir Stock Pulls Back After Hitting Fresh All-Time High
Palantir Technologies shares are falling in intraday trading Wednesday, as investors booked profits after the AI-powered analytics software provider's stock hit fresh record highs.
Palantir shares are down about 3% after closing Tuesday at a record high of $133.17, buoyed by investor optimism about the company's expanding business with the federal government.
Shares in the company have been on a tear, surging more than 70% this year.Palantir Technologies (PLTR) shares are falling in intraday trading Wednesday, as investors booked profits after the AI-powered analytics software provider's stock hit fresh record highs.
Palantir shares are down about 3% after closing Tuesday at a record high of $133.17, buoyed by investor optimism about the company's expanding business with the federal government. The federal government has integrated Foundry—a Palantir product that organizes and analyzes data—into at least four agencies, including the Department of Homeland Security and the Health and Human Services Department, The New York Times reported late last week.
Shares in the company have been on a tear since 2023, surging more than 70% this year. The data analytics company is a favorite of retail investors and analysts, with Bank of America analysts calling Palantir a 'market definer' for companies looking to leverage artificial intelligence and Wedbush in March naming it as one of their "top names to own in 2025."
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