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Palantir stock drops 7% amid contract losses and valuation concerns, underperforming software peers.

Market News
22 Jun 2026
24/7 Wall Street
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Bearish
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Palantir Technologies shares fell 7% to around $120, underperforming its software peers like Palo Alto Networks and CrowdStrike, which remained stable or gained. The decline is linked to Palantir losing a contract with a French intelligence agency to a local competitor, alongside ongoing concerns about its high valuation and heavy short interest. Despite strong long-term growth prospects driven by AI and a partnership with Google Cloud, investors remain cautious due to recent contract risks and stock volatility. The key level to watch is $120; a break below could trigger further selling, while holding could attract buyers betting on Palantir's AI potential.

More News (PLTR)

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Market News
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Palantir shares drop 3.33% after director sells $2.13M in stock amid ongoing insider sell-off.

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