Why Palantir Stock Is Plunging Today

Palantir (NASDAQ: PLTR) stock is getting hit with another round of sell-offs and was down 4% in Tuesday's trading as of 2:05 p.m. ET. Meanwhile, the S&P 500 was down 0.9%, and the Nasdaq Composite was down 2.1%. The stock had been off as much as 6.7% earlier in today's trading and is currently down 26% year to date. Palantir is losing ground today in conjunction with news suggesting that the company could be in danger of losing a contract with the U.K.'s National Health Service. Along with that business-specific pressure, the stock is also seeing selling action connected to concerns about valuations for artificial intelligence (AI) stocks, macroeconomic risks, and SpaceX's June 12 IPO. Image source: Getty Images.Continue readingWeiter zum vollständigen Artikel bei MotleyFool Weiter zum vollständigen Artikel bei MotleyFool