{"id":46529,"date":"2023-08-09T20:40:19","date_gmt":"2023-08-10T00:40:19","guid":{"rendered":"https:\/\/ifintechworld.com\/markets\/palantir-stock-is-in-free-fall-where-it-could-be-headed-next\/"},"modified":"2023-08-09T20:40:22","modified_gmt":"2023-08-10T00:40:22","slug":"palantir-stock-is-in-free-fall-where-it-could-be-headed-next","status":"publish","type":"post","link":"https:\/\/ifintechworld.com\/?p=46529","title":{"rendered":"Palantir Stock Is in Free Fall. Where It Could Be Headed Next."},"content":{"rendered":"<div id=\"js-article__body\" itemprop=\"articleBody\" data-sbid=\"WP-BAR-0000715768\">\n<div data-layout=\"wrap\n              \" data-layout-mobile=\"\" class=\"\n        media-object\n        type-InsetMediaIllustration\n          wrap\n  article__inset\n        article__inset--type-InsetMediaIllustration\n          article__inset--wrap\n    article__inset--lead\n  \"><\/p>\n<figure class=\"\n        media-object-image\n        enlarge-image\n        img-wrap\n        article__inset__image\n      \" itemscope=\"\" itemtype=\"http:\/\/schema.org\/ImageObject\"><\/p>\n<\/figure><\/div>\n<p>\n        Palantir<br \/>\n       was a big AI winner and then August started. Now its stock is in free fall and could be headed even lower. <\/p>\n<p>Palantir stock fell 11% to $15.25 on Wednesday, its biggest drop since November 2022. With that decline, shares are now below their 50-day moving average, at $16.16, for the first time May. A lot of technical damage has been done. It\u2019s broken its uptrend line, which sat around $17, and its first level of support, near $16. Worse still, the stock has fallen for six straight days and is 22% during its losing streak, the worst six-day stretch since May 2022.  <\/p>\n<div class=\"paywall\">\n<p>It\u2019s an odd move. Palantir stock peaked at $19.99 on Aug. 1, a move that put it up $211% since the start of the year. Palantir also reported earnings on Monday, numbers that initially looked good. It reported a profit of 5 cents a share, in line with analyst forecasts, while raising its revenue guidance. It even announced a $1 billion stock buyback. Analysts, too, seemed to like the numbers. \u201cProfitability is ahead of schedule, FCF is tracking better than expected, there is $3B on the balance sheet, and there is enthusiasm that the company may be eligible for S&amp;P 500 inclusion in the coming quarter,\u201d Raymond James analyst Brian Gesuale wrote on Monday. \u201cWe are reiterating our Outperform rating and notching our target to $22.00.\u201d Even some bears raised their price targets. <\/p>\n<p>But revenue growth slowed and sales guidance was raised by only $2 million, and that has the stock falling now. \u201cStepping back, we view the quarter as mixed, at best, given the deceleration in growth and weak leading indicators,\u201d RBC analyst Rishi Jaluria wrote on Monday. <\/p>\n<p>The next level of support is at $15, then $14. After that, investors need to look at its 200-day moving average at $10. <\/p>\n<p>Hopefully, it doesn\u2019t come to that. <\/p>\n<p><strong><em>Corrections &amp; Amplifications<\/em><\/strong>:<\/p>\n<p>Palantir has suffered its biggest drop since November 2022. An earlier version of this article incorrectly said it had traded at its lowest level since that date. <\/p>\n<p>Write to Ben Levisohn at ben.levisohn@barrons.com<\/p>\n<\/p><\/div>\n<\/div>\n<p>Read the full article <a href=\"https:\/\/www.marketwatch.com\/articles\/palantir-stock-price-700d6471?mod=markets\" target=\"_blank\" rel=\"noopener\">here<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Palantir was a big AI winner and then August started. Now its stock is in free fall and could be headed even lower. Palantir stock fell 11% to $15.25 on Wednesday, its biggest drop since November 2022. With that decline, shares are now below their 50-day moving average, at $16.16, for the first time May. [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":46530,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"gallery","meta":{"footnotes":""},"categories":[241],"tags":[83],"class_list":["post-46529","post","type-post","status-publish","format-gallery","has-post-thumbnail","hentry","category-markets","tag-featured","post_format-post-format-gallery"],"yoast_head":"<!-- This site is optimized with the Yoast SEO plugin v20.6 - https:\/\/yoast.com\/wordpress\/plugins\/seo\/ -->\n<title>Palantir Stock Is in Free Fall. Where It Could Be Headed Next. | iFintechWorld<\/title>\n<meta name=\"description\" content=\"Palantir was a big AI winner and then August started. Now its stock is in free fall and could be headed even lower. 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