Podcast: Indexes Fall Modestly as Trump Expects Chip, Pharma Tariffs Soon
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26 minutes ago
- Yahoo
Palantir stock falls 9%, extending losing streak to 5 trading days, as tech trade cools
Palantir (PLTR) stock fell more than 9% in afternoon trading on Tuesday, putting shares on track for their fifth-straight losing session as investors continue to rotate away from some of the hottest tech names that have powered stocks to all-time highs in 2025. Palantir stock rose more than 150% from its April low through its second quarter earnings report, which saw the company's revenue top $1 billion in a single quarter for the first time. Data from market data provider Barchart showed Tuesday's slide would mark Palantir's longest losing streak since March. Palantir was also under pressure after a bearish report by short-seller Citron Research published Monday predicted a price target of $40. The firm's founder, Andew Left, called the target "generous." Citron said it derived its price target based on comparing Palantir to OpenAI's ( recent $500 billion valuation as the ChatGPT giant looks to sell several billion dollars of stock. Palantir is not alone in seeing some investors move away from the stock in recent days. The Technology Select Sector SPDR Fund (XLK), which tracks technology stocks, was down more than 1.5% in mid-day trading on Tuesday. AI superstar Nvidia (NVDA) was down more than 3%, its chip rival AMD stock fell more than 5%. Meta (META) — which has thrown huge sums of CapEx into AI talent retention — saw shares down 1.8%. The tech sector as a whole has lost more than 2.5% over the last 5 sessions. The pressure on AI names comes at a moment when the broader market rally is starting to show signs of rotation beyond Big Tech. After months of concentration in a handful of growth giants, sectors like Healthcare (XLV) and Homebuilders (XHB), along with small- and mid-cap stocks, have taken on a larger role in driving this summer's move to record highs. On Tuesday, leadership was concentrated in more defensive corners of the market, with Real Estate (XLRE), Utilities (XLU), Materials (XLB), Consumer Staples (XLP), and Healthcare among the biggest gainers. But given Big Tech's outsized weighting in the index, if the group isn't leading, gains in the S&P 500 are unlikely to be as sharp or one-sided as they've been over the past two years — a dynamic on display in Tuesday's trading. The tech-heavy Nasdaq was also taking on the heaviest losses, falling nearly 1.5% in afternoon trade. Some strategists, however, see this shift as a healthier sign for markets. Citi strategist Scott Chronert framed the moment as 'two parallel paths' for the S&P 500 — one still led by AI-fueled growth giants and the other increasingly supported by more traditional, economically tied sectors. 'The simple answer is that we see ongoing Mega Cap Growth participation, if not leadership, but with fundamental and performance broadening creating a more durable structural setup,' Chronert wrote in a Friday note. 'The healthiest path to higher index levels is a combination of Growth/Tech leadership persisting but with other areas of the market additive more so than has been the case this past year.' Click here for in-depth analysis of the latest stock market news and events moving stock prices Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
Yahoo
26 minutes ago
- Yahoo
President Trump Has Been Given A Very Special Golf Club
President Trump Has Been Given A Very Special Golf Club originally appeared on The Spun. It's no secret that President Trump loves golf. The 79-year-old President of the United States has been playing golf for more than 50 years. President Trump has played dozens of rounds of golf this year, despite taking office in late January. He's a pretty good player, too, with his handicap being registered as a 2.8 in the Golf Handicap Information Network. It's the lowest registered handicap of any sitting president in U.S. history. President Trump, who owns several prestigious golf courses around the world - he has three prominent ones in the U.S. in New Jersey, Virginia and Florida - isn't in need of any more golf gifts, but he received one on Tuesday. The President of the United States received a special golf club from Ukraine President Zelenskyy on Tuesday. President Trump was gifted a golf club from Ukrainian soldier Kostiantyn Kartavtsev. The Ukrainian soldier lost his leg saving comrades in 2022 and used golf in his recovery from the devastating injury. President Trump was very happy to receive it. "It's beautiful. It's made with real love," President Trump said. President Trump was impressed by Kartavtsev's golf game President Trump was able to watch a video of the former Ukrainian solider who has been taking up golf. The President of the United States, who has played thousands of rounds of golf over the course of his life, is very impressed by the former Ukrainian soldier's golf game. "I just watched your swing. I know a lot about golf. Your swing is great, it looks beautiful. And you're going to be a very good golfer, very soon," President Trump predicted from the White House. President Trump makes a golf promise, too The President of the United States also made a big promise when it comes to his golf career. He plans on not only using the putter, but thinking of the Ukrainian soldier every time he's on the green. "The putter is beautiful. I'll use it. Every time I sink a putt, I'll be thinking of you," he promised at the White House. President Trump Has Been Given A Very Special Golf Club first appeared on The Spun on Aug 19, 2025 This story was originally reported by The Spun on Aug 19, 2025, where it first appeared.
Yahoo
26 minutes ago
- Yahoo
Why Palantir Stock Is Tumbling Tuesday
Palantir (PLTR) shares tumbled Tuesday afternoon, extending recent losses as a high-profile short seller fueled worries the stock could be overvalued after a strong run earlier this year. The shares were down 9% around $158 in recent trading. Still, they've more than doubled in value in 2025, leaving Palantir the best-performing stock in the S&P 500 for the year so far as demand for the data analytics software company's Artificial Intelligence Platform drives record sales. Short seller Andrew Left of Citron Research, who voiced concerns about the stock's valuation in a Fox Business interview last Wednesday, said in a report yesterday that he believes the stock has become "detached from fundamentals" and would be worth $40. The report compares Palantir to OpenAI, and posits that if Palantir were to trade at the same price-to-revenue multiple as the ChatGPT maker, given Bloomberg consensus projections, Palantir's stock price would be closer to $40. However, "even that price would leave Palantir among the most expensive [software as a service] names in history," Left said. Left, whose sharp commentary and claimed track record of exposing fraud and overvaluation have earned him the moniker "The Bounty Hunter of Wall Street," has become a controversial figure and faces criminal charges for securities fraud. Still, he's not the only one who's raised concerns about Palantir's lofty valuation. Of the eight Wall Street analysts with current ratings surveyed by Visible Alpha, just two have issued "buy" recommendations versus six "hold" ratings, amid some concerns the stock may have climbed too high, too fast, and could be due for a drawback. Jefferies analysts, who applauded Palantir's strong revenue growth and outlook after the company reported results earlier this month, said they still believe the stock's valuation is "disconnected from even optimistic growth scenarios." HSBC analysts, who have a neutral rating for the stock, also warned it might already be "priced for perfection" and could struggle to keep up with investors' high expectations. Read the original article on Investopedia Sign in to access your portfolio
