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Stock Track | Palantir Plunges 6.59% Pre-Market as Prominent Investors Trim Stakes

Stock Track10-31

Shares of Palantir Technologies Inc. (PLTR) plunged 6.59% in pre-market trading on Wednesday, October 31, 2024, as prominent investors continued to trim their stakes in the data-mining specialist.

Billionaire Philippe Laffont of Coatue Management, a technology-focused hedge fund, has been a significant seller of Palantir shares. During the June-ended quarter, Laffont and his team dumped their entire stake in the company, divesting 4,816,195 shares.

Valuation concerns may have prompted Laffont's decision. Palantir is currently trading at a lofty valuation of 105 times forecast earnings per share (EPS) for 2025 and 29 times forecast revenue, a premium that some analysts consider excessive given the potential limitations of Palantir's Gotham platform. The platform is designed to work exclusively with the U.S. government and its allies, which could cap its long-term growth potential.

Cathie Wood of ARK Invest has also been reducing her funds' exposure to Palantir. On Wednesday, ARK Invest sold a total of 372,730 shares across its various ETFs, despite Palantir's recent 52-week high and a strategic partnership with L3Harris Technologies Inc.

Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.

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Miketee74
·11-01
Haha...it is the big shark that made the downturn of the price of Palantir!
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Palantir is currently trading at a lofty valuation of 105 times forecast earnings per share (EPS) for 2025 and 29 times forecast revenue, a premium that some analysts consider excessive given the potential limitations of Palantir's Gotham platform. The platform is designed to work exclusively with the U.S. government and its allies, which could cap its long-term growth potential.</p>\n\n<p>Cathie Wood of ARK Invest has also been reducing her funds' exposure to Palantir. 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(PLTR) plunged 6.59% in pre-market trading on Wednesday, October 31, 2024, as prominent investors continued to trim their stakes in the data-mining specialist.\n...</p>\n\n<a href=\"\">Source Link</a>\n\n</div>\n\n\n</article>\n</div>\n</body>\n</html>\n","isBrief":false,"type":0,"news_type":1,"symbol":"PLTR","symbol_name":"Palantir Technologies Inc.","start_time":0,"source_url":"","article_id":"1168911905","we_media_id":"1086803395","thumbnails":[],"rights":null,"url":"https://stock-news.laohu8.com/highlight/detail?id=1168911905","pubTimestamp":1730366791,"sourceInfo":{"source_id":"ai_movement_en","name":"Stock Track"},"weMediaInfo":{"media_name":"Stock Track","introduction":"Track stock‘s movements and relevant news","home_visible":1,"id":"1086803395","head_image":"https://static.tigerbbs.com/a81accab1e7ee4144dc051f71903a390"},"summary":"Shares of Palantir Technologies Inc.  plunged 6.59% in pre-market trading on Wednesday, October 31, 2024, as prominent investors continued to trim their stakes in the data-mining specialist.Billionaire Philippe Laffont of Coatue Management, a technology-focused hedge fund, has been a significant seller of Palantir shares. 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During the June-ended quarter, Laffont and his team dumped their entire stake in the company, divesting 4,816,195 shares.Valuation concerns may have prompted Laffont's decision","content":"<p>Shares of Palantir Technologies Inc. (PLTR) plunged 6.59% in pre-market trading on Wednesday, October 31, 2024, as prominent investors continued to trim their stakes in the data-mining specialist.</p>\n\n<p>Billionaire Philippe Laffont of Coatue Management, a technology-focused hedge fund, has been a significant seller of Palantir shares. During the June-ended quarter, Laffont and his team dumped their entire stake in the company, divesting 4,816,195 shares.</p>\n\n<p>Valuation concerns may have prompted Laffont's decision. Palantir is currently trading at a lofty valuation of 105 times forecast earnings per share (EPS) for 2025 and 29 times forecast revenue, a premium that some analysts consider excessive given the potential limitations of Palantir's Gotham platform. The platform is designed to work exclusively with the U.S. government and its allies, which could cap its long-term growth potential.</p>\n\n<p>Cathie Wood of ARK Invest has also been reducing her funds' exposure to Palantir. 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(PLTR) plunged 6.59% in pre-market trading on Wednesday, October 31, 2024, as prominent investors continued to trim their stakes in the data-mining specialist.</p>\n\n<p>Billionaire Philippe Laffont of Coatue Management, a technology-focused hedge fund, has been a significant seller of Palantir shares. During the June-ended quarter, Laffont and his team dumped their entire stake in the company, divesting 4,816,195 shares.</p>\n\n<p>Valuation concerns may have prompted Laffont's decision. Palantir is currently trading at a lofty valuation of 105 times forecast earnings per share (EPS) for 2025 and 29 times forecast revenue, a premium that some analysts consider excessive given the potential limitations of Palantir's Gotham platform. The platform is designed to work exclusively with the U.S. government and its allies, which could cap its long-term growth potential.</p>\n\n<p>Cathie Wood of ARK Invest has also been reducing her funds' exposure to Palantir. On Wednesday, ARK Invest sold a total of 372,730 shares across its various ETFs, despite Palantir's recent 52-week high and a strategic partnership with L3Harris Technologies Inc.</p>\n\n</article>\n</div>\n</body>\n</html>\n","type":0,"thumbnail":"","relate_stocks":{"PLTR":"Palantir Technologies Inc."},"source_url":"","is_english":true,"share_image_url":"https://static.laohu8.com/e9f99090a1c2ed51c021029395664489","article_id":"1168911905","content_text":"Shares of Palantir Technologies Inc. (PLTR) plunged 6.59% in pre-market trading on Wednesday, October 31, 2024, as prominent investors continued to trim their stakes in the data-mining specialist.\nBillionaire Philippe Laffont of Coatue Management, a technology-focused hedge fund, has been a significant seller of Palantir shares. During the June-ended quarter, Laffont and his team dumped their entire stake in the company, divesting 4,816,195 shares.\nValuation concerns may have prompted Laffont's decision. 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