By WSJ Staff
Palantir Technologies is suffering a selloff for the record books.
-- The shares recently traded at $81.60, down about 3.7% on the day.
-- They have crashed more than a third since hitting an all-time closing record of $124.62 just 10 days ago.
-- The stock is poised for its biggest one-week pullback on record, according to Dow Jones Market Data.
The data-analytics company's stock has attracted a fervent following among individual investors, and has been prone to sharp price swings.
It has faced pressure as a result of potential cuts in U.S. defense spending, as well as Chief Executive Alex Karp's new stock-trading plan. A very high valuation is another headache.
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(END) Dow Jones Newswires
February 28, 2025 10:07 ET (15:07 GMT)
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