Palantir Technologies Inc. (PLTR) has Gapped Down by 2.3% on 24.1M Volume Today

by Knowledge Resources |

Here are some reasons it may have gapped down:

1) Analyst Downgrade: Morgan Stanley downgraded PLTR from “”Overweight”” to “”Equal-Weight”” on September 10th, citing concerns over the company’s growth prospects.
2) Weak Sales Guidance: In its recent earnings call, PLTR provided disappointing sales guidance for the third quarter of 2024, falling short of analysts’ estimates.
3) Market Sentiment: The broader market has been volatile in recent days, with technology stocks experiencing a downturn due to concerns over rising interest rates and slowing economic growth.

News Headlines (Last 5 Days):

Sep 11, 2024: Palantir Gap Down After Morgan Stanley Downgrade
Sep 10, 2024: Palantir Disappoints with Weak Sales Guidance
Sep 8, 2024: Tech Stocks Tumble Amid Market Volatility
Sep 7, 2024: Fed Raises Interest Rates by 50 bps, Weighing on Tech Stocks
Sep 6, 2024: Palantir Partners with Lockheed Martin on Defense Contract

Additional Information:

Short Interest: 8.5%
Analyst Ratings: 4 Buy, 3 Hold, 3 Sell
Technical Factors: The stock has broken below its 50-day moving average and is approaching its 200-day moving average.”