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Palantir Crashed Over 9% on Monday As This Issue Could Limit Its Future Gains
Palantir Technologies has been one of this year's standout technology stocks. However, customer concerns over data ownership could limit the analytics-software company's future gains, according to William Blair analysts.The worries for Palantir were highlighted by a presentation given by U.S. Army officials last week. Comments made in the presentation suggested there might be friction between the Army and Palantir over data ownership as part of the company's four-year $458 million contract for the Army Data Platform, according to William Blair analyst Louie DiPalma. That contract started in December 2019 and is set to end within weeks."The tone of the comments and plan to 'maximize the use of open-source vendors' provide a strong indication that Palantir's renewal contract...will be significantly less than the original $458 million," wrote DiPalma in a research note.DiPalma said it seemed likely the Army would give Palantir a two-year contract and build a future system with multiple ve
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