Palantir Stock Tumbles Over 10%, the Worst Six-Day Stretch Since May 2022
Palantir was a big AI winner and then August started. Now its stock is in free fall and could be headed lower.Palantir stock has fallen 8.75% to $15.55 on Wednesday, its lowest level since November 2022. With that decline, shares are now below their 50-day moving average, at $16.16, for the first time May. A lot of technical damage has been done. It's broken its uptrend line, which sat around $17, and its first level of support, near $16. Worse still, the stock has fallen for six straight days and is 22% during its losing streak, the worst six-day stretch since May 2022.