Palantir Stock Could Snap Its 7-day Losing Streak. It's Been a Rough Month.

Dow Jones06-26 19:42

Shares of Palantir Technologies looked set to break their seven-day losing streak on Friday, a day after the stock closed at a 12-month low.

Cathie Wood's ARK Invest funds bought the dip as the stock closed at a new 12-month low.

Palantir stock was rising 0.8% to $108.12 in premarket trading on Friday, putting it on pace to snap its the losing streak. Shares on Thursday fell 5.5% to $107.27, closing lower for a seventh-straight trading session and marking a fresh 52-week low.

Some investors have been buying the dip.

A trading notice Thursday revealed prominent tech bull Cathie Wood added 30,528 shares across the ARK Innovation ETF, the ARK Next Generation Internet ETF, and the ARK Blockchain & Fintech Innovation ETF. Palantir shares make up 2.4%, 2.3%, and 3.7% of each respective fund.

It has been a rough year for shares of Alex Karp's software company, especially after three straight years of mammoth gains. The stock has fallen 39% in 2026 on broad fears that artificial intelligence will disrupt software.

For comparison, the S&P 500 and the tech-heavy Nasdaq Composite have both risen this year -- 7.5% and 9%, respectively.

But the pain for Palantir investors ratcheted up in recent weeks. The stock is down 20% since last Tuesday and 31% this month.

Even if the stock does close higher on Friday, Palantir shares would still be trending toward their worst monthly percentage drop since a 32% decline in February 2021, according to Dow Jones Market Data.

Shares are also off 48% from their record closing high of $207.18 on Nov. 3, 2025.

On Monday, the stock broke below a key technical level of support that it had held since February -- $127, an indication that it could be headed even lower. Shares enter Friday 15% below the $127 price.

Then on Thursday, the stock also dropped below $128, a key level of support on a weekly chart that it had held for the past 12 months.

Palantir also is well below key moving averages. The stock's 50-day moving average on a daily chart is currently around 137; the 200-day moving average is about $159, according to chart analysis.

But Wall Street remains optimistic.

The stock has an average Overweight rating with a $189.87 price target, representing 77% upside from the closing price on Thursday, according to FactSet. Of the 33 firms polled by FactSet, 17 rate it Buy; three, Overweight; 11, Hold; and two, Sell.

Write to Kit Norton at kit.norton@barrons.com

This content was created by Barron's, which is operated by Dow Jones & Co. Barron's is published independently from Dow Jones Newswires and The Wall Street Journal.

(END) Dow Jones Newswires

June 26, 2026 07:42 ET (11:42 GMT)

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Palantir Stock Could Snap Its 7-day Losing Streak. It's Been a Rough Month.

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