Why Palantir Stock Plummeted Last Month But Is Soaring in July
Are things finally looking up for Palantir after last month's brutal sell-off?
Overview
Palantir (NASDAQ: PLTR) stock got hit with big sell-offs across June's trading as investors continued to prioritize bets on the artificial intelligence (AI) hardware space over software plays. The S&P 500 fell roughly 1.1% in the month, and the Nasdaq Composite declined 2.8%.
Palantir's valuation also moved lower in June as investors weighed the potential fallout of losing a business relationship with the UK's National Health Service (NHS). Commentary from investor Michael Burry also weighed on the stock. Despite pressures last month, the company's share price is rebounding in July.
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Details
Source
Originally published at www.fool.com.
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Disclaimer: This article is for informational purposes only and does not constitute investment advice. Data may be delayed up to 15 minutes. Past performance is not indicative of future results. Consult a licensed financial advisor before making investment decisions.