Palantir Fell Over 3% in Premarket Trading Because of Faraday Future’s Predicament

Tiger Newspress2023-06-20

Palantir Technologies Inc. fell over 3% in premarket trading because of Faraday Future’s predicament.

Palantir's investment was part of the so-called Private Investment in Public Equity (PIPE) portion of the merger with a special purpose acquisition company (SPAC) that made Faraday Future public. The latter planned a reverse stock split and delayed EV deliveries.

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Comments

  • AllMight
    2023-06-20
    AllMight
    Palantir experienced a decline of over 3% in premarket trading is attributed to Faraday Future’s situation. Faraday Future, an electric vehicle (EV) manufacturer, went through a merger with a special purpose acquisition company (SPAC) to become a publicly traded company. As part of the merger, Palantir made an investment in Faraday Future through the Private Investment in Public Equity (PIPE) portion. However, Faraday Future encountered challenges, including the need for a reverse stock split (consolidating existing shares) and delays in delivering their electric vehicles. These circumstances have had a negative impact on Faraday Future’s prospects, which in turn influenced the stock performance of Palantir. Overall, Palantir’s stock decline can be attributed to the difficulties faced by F
    • nimbly: 

      I'm seeking for a more effective investment📉📉📉📉 approach How good is this person at portfolio diversification, particularly with regard to digital assets?

    • wigglyz: 

      ..,like I said for the 3rd time now, 600% earnings growth this quarter!!!! "Unprecedented" 🚀

    • frosti: 

      My thoughts if market turns around and are close to report quarter think stock be near 17 . May break 20 by sept

    • vippy: 

      If you can rely on everything that Alex Karp stated over the past month there's no reason that Palantir shouldn't be $30 a share by the end of the year if not higher.

    • bubblyx: 

      Downgrades coming. Question now is do you sell at $13 or wait until it drops to $8 and then sell?

  • Sjaydenshun
    2023-06-20
    Sjaydenshun
    Don't quite understand the correlation. Care to further elaborate on it?
  • Michael Chua
    2023-06-20
    Michael Chua
    planta🤣
  • Merdeka1981
    2023-06-20
    Merdeka1981
    Errm, so what's the predicament and why is it causing planta to drop 3%?
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