- Palantir stock loses ground after reporting Q2 earnings.
- Results were in line with Wall Street consensus but showed slow growth.
- CEO Alex Karp announced a $1 billion buyback program.
- If PLTR stock breaks below $17, then $13.56 is back in business.
Palantir (PLTR) stock has shunned as much as 3% of its value in Tuesday’s premarket following quarterly results. Late Monday, Palantir announced second-quarter earnings that came in precisely in line with Wall Street consensus. Despite the added benefit of a $1 billion buyback scheme, the share price has dropped to the $17.30s.
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