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In a 30% Drawdown, What's Going On With Palantir Stock?

The article discusses the recent performance of Palantir Technologies Inc.'s stock, which has experienced a significant drawdown of about 30% from its peak. Despite this decline, the article suggests that Palantir's fundamentals remain strong. Key points include Palantir's expansion into the commercial sector, with a notable increase in U.S. commercial revenue by 33% year-over-year, and a 55% increase in customer count. The company also reported a GAAP profitable quarter, which is a positive sign for investors. However, the stock's drop is attributed to broader market dynamics, including concerns over high valuations in the tech sector, potential economic slowdown, and the impact of rising interest rates. The article also mentions that while Palantir has a robust government contract base, the growth in this sector has slowed, and there are concerns about future government spending. Despite these challenges, the long-term outlook for Palantir remains optimistic due to its unique data analytics capabilities and potential in AI and machine learning markets.

Read the Full MSN Article at:
[ https://www.msn.com/en-us/money/savingandinvesting/in-a-30-drawdown-what-s-going-on-with-palantir-stock/ar-AA1A7Xxk ]