$Palantir Technologies Inc.(PLTR)$Bearish

Time to sell and stay away from this?[Blush] [Drowsy] 

The shares plunged more than 14% yesterday after posted Q2 results and offered full-year sales guidance that fell short of Wall Street's expectations.[Put] 

-EPS (-)0.01 when the forecast was 0.0307[Weak] 

-Revenue 473.01m(forecast 469.09m)-up 26% year-over-year.

Companie's forecast :

1) For the upcoming third quarter, PLTR expects sales to be between $474M and $475M, compared to estimates of $508.23M.

2) For the full-year, PLTR revised its forecast and expects to generate $1.9B in revenue (compared to analysts' estimates of $1.98B)

3)PLTR said the company would be profitable by 2025, but that uncertainty in US government spending was hurting its outlook for the rest of the year.[Weak] 

Technical analysis

-dropped below ema200 since Nov2021[Put] 

-short term wise was increasing trend with higher low price

-big gap down immediately after announcement of disappointing Q2 earning report

Factors to consider

-fundamental support is still not solid[Weak] 

- 3 consecutive earning reports that doesn't meet the expectations[Weak] 

- uncertainty in major client (US gov) spending[Heartbreak] 

Is it time to sell this stock and stay away from it??[RIP] [RIP] 

@Daily_Discussion@TigerStars@CaptainTiger@TigerPM