Palantir Drops 10% on Report of Pentagon Slashing Budget
Economy And Jobs,Stock Market,Investing,Pentagon,Federal Budget,Military,Pete Hegseth
From the Center
AllSides Media Bias Rating: Center
Palantir Technologies Inc. shares fell 10% on Wednesday, and continued to slide in after-hours trading, following a report that US Defense Secretary Pete Hegseth has asked officials for plans on how to slash military spending.
Palantir, which has seen its stock soar by almost 50% this year, is a major US defense contractor. It also sells technology and artificial intelligence products to other allied governments and private companies...
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