PLTR is down -5%. Find out why the stock stumbled today.

Shares of Palantir Technologies Inc. (PLTR) are trading -5% lower at a price of $7.98 at the time of this writing. Shares of the stock are far behind other names in the space on what is turning out to be a mildly pessimistic day for the Information Technology sector.

The stock is likely moving, partly because of a macro market selloff, and also potentially because:

-Palantir Technologies last issued its quarterly earnings results on Monday, August 8th.
-The company reported ($0.01) earnings per share for the quarter, missing analysts’ consensus estimates of $0.03 by ($0.04).
-For the current year, Palantir will post -0.2 EPS.
-Though it beat Wall Street forecasts, Q2 was Palantir’s slowest quarterly growth rate as a publicly listed company.
-Palantir's Q2 earnings release stunned some investors because its government revenue growth slowed dramatically. Investors should capitalize on downside volatility to add more positions

Palantir Technologies Inc. has been trading between a 52-week high of $29.29 and a 52-week low of $6.44. The stock has a market cap of $15.7 Billion.

Palantir Technologies Inc. is a software company that builds enterprise data platforms for use by organizations with complex and sensitive data environments. From building safer cars and planes, to discovering new drugs and combating terrorism, Palantir helps customers across the public, private, and non-profit sectors transform the way they use their data.

As you can imagine, the internet had a few things to say about the price move. Here's a few choice comments from the Reddit Traderverse™:

0zOvOx0 - 19 upvotes - source
Bag holder portfolio: BB RKT GME AMC BBBY CLOV MVIS DWAC LCID WKHS RIDE OCGN UWMC PLTR 😂

datadogsoup - 7 upvotes - source
Need some more PLTR and maybe some CRSR and throw in some CLOV and the time machine will be complete.

OzManCumeth - 3 upvotes - source
PLTR was mentioned recently as well lol

chav0s - 2 upvotes - source
That PLTR percentage is looking good. I'm in

CnD123 - 2 upvotes - source
I'm still holding 10k in $22/share PLTR bags LOL

hollagetdollas - 1 upvotes - source
Pltr $25 by open $30 by lunch $22.90 by close

ChipsDipChainsWhips - 1 upvotes - source
Yes it’s going bankrupt same with the video game pawn shop. In fact every ticker is going to 0.00000000 except $pltr. But I do some have some DD 100% FRESH on $gme $bbby $byebyebaby merger that’s about to happen under the #GMERICA UMBRELLA Bro it’s going to the moon bro, listen bro it’s got this thing called short interest bro, I don’t know what that is bro but listen, so like you can buy a stock bro but, also bro you can like open a share to sell bro and that’s like called a short position or some shit. Anyway bro you make money on like a short position if a stock goes down in price. IKNORITE???! That doesn’t make sense bro but it’s real bro. So like BBBY had like a lot of people doing that okay, and also bro like these dudes with a lot of money called hedge funds like have a lot of these shorty spice positions okay bro and like to make money they have to close. And bro that means like the price is gonna be super high bro, because bro they have to buy the stock to make any money. Bro them closing that position like wow it’s gonna mean so many people are going to buy it at the same time. And bro when people buy stocks the price of it goes up and like you can make money by selling, but like selling to close not like selling to open. Anyways bro this stock BBBY has like one hundred trillion billion million hundred thousand people shorting it bro. So like when they close the position because it’s a profitable company and like bro there’s a bunch more people who like invest in companies that make a lot of profit and like eventually bro the people with the short position I explained will start losing money. Bro when that happens bro they will have to buy back their shares and bro the volume on that bro like it’s buying pressure and the stock price goes up bro. So like they are forced to cover because the company is making so much profit so like bro the price of the stock goes so high. If you buy some of the stock now and imagine stacks of dollar bills being your purchase of stock laying on the ground, and like for every dollar the stock goes up bro you add one more to the stack. Because so many people are forced or buy it because it’s a good profitable company like that stack of money will go from the corner of the highway you panhandle at bro to like the moon bro just trust me bro it’s going to happen. You just like need to buy it bro and like you’re gonna have the amount of money #PER SHARE That your phone number is. Bro I’m telling you just buy one share and bro like you’re a billionaire. *nuff said*

d4v1d87 - 1 upvotes - source
I’m averaging down every month after I take my salary. For now my average price of PLTR is 24$. I don’t know if I’m just throwing my money 😔

its_me_cindy - 1 upvotes - source
Just dumped all my PLTR for a significant loss. Not waiting on that stock anymore. Bought a ton of JWN today and yesterday.

lavishcoat - 1 upvotes - source
PLTR, send it