Palantir (PLTR) Stock Tumbles 5% Amid Political Scrutiny Over Government Contracts Worth $2.2B
The post Palantir (PLTR) Stock Tumbles 5% Amid Political Scrutiny Over Government Contracts Worth $2.2B appeared on BitcoinEthereumNews.com. Key Takeaways Shares of Palantir closed approximately 4.8% lower at $127.88 on Wednesday, halting a seven-session rally that had driven the stock up 25%. Concerns emerged following a Financial Times article discussing potential political opposition to Palantir’s government work from Democratic legislators. Federal contract revenues reached approximately $2.2 billion in the twelve months since Trump’s presidential return, marking a 65% annual increase. The stock continues to trade beneath both its 100-day and 200-day moving averages, maintaining a Death Cross pattern established in February. Wall Street maintains a Buy consensus rating with a $174.10 average price target; the company’s next earnings release is projected for August 3. Palantir Technologies (PLTR) experienced a significant decline Wednesday, ending a seven-session upward momentum. Sh