Palantir's stock fell for a fifth straight day to continue its pullback from all-time highs.

Palantir’s stock slumped more than 9% on Tuesday, falling for a fifth straight day to continue its pullback from all-time highs.

The artificial intelligence software provider’s stock has slid more than 15% over the last five trading sessions, after a stellar earnings report earlier this month propelled shares to all-time highs. The report was Palantir’s first-ever $1 billion revenue quarter.

It’s a start, I guess. Keep it up and tank that shit to hell where it belongs.

    • UnderpantsWeevil@lemmy.worldEnglish
      361·
      12 days ago

      Their P/E is in the 600s. Arguably the most overpriced company by market cap in the country right now. Like, more than three times worse than Tesla.

      They would have to fall a long, long way before they were in the ballpark of “getting fucked”

    • slate@sh.itjust.works
      57·
      11 days ago

      Palantir is a mass surveillance company~~, not an AI company like the article suggests. They are those black cameras and solar panels you see popping up on every inch of road across the country. They track your every movement, logging license plates and car descriptions. Then they make it available to any highschool bully with a badge.~~

      EDIT: Whoops, I confused them with Flock. Palantir is still a mass surveillance company that does shady stuff for the government, but they aren’t the car cameras.

    • Basic Glitch@sh.itjust.worksOP
      14·
      12 days ago

      God I hope so, Thiel seems to be shifting all his money to crypto (of course after Palantir already secured billions in contracts for AI) but public opinion seems to be finally acknowledging how over hyped it’s been.

      I just always question when the narratives being pushed suddenly changes so abruptly without much pushback. It just happens so often and always seems to follow the same predictable Thiel pattern. All we’ve heard for the past 8 months is that AI is this inevitable future, and we have to stop fighting progress. Now suddenly it feels like “ok we’ve safely moved our money somewhere else, so it’s ok to go back to acknowledging the reality of AI now.”

      As always, Thiel has his very blameworthy public scapegoat set up (this time it’s Alex Karp). Honestly makes me wonder out of curiosity, what would happen if anyone really put effort into getting a narrative going critiquing known issues with cryptocurrency.

      • NeilBrü@lemmy.worldEnglish
        3·
        11 days ago

        If I had the knowledge, I would love to start an ETF to short publicly traded companies run by assholes and douchebags. Similar to inverse REITs for real estate. It would probably lose money spectacularly, I admit, but I would still run it out of pure spite.

  • IninewCrow@lemmy.caEnglish
    16·
    12 days ago

    That’s scary … because they usually start a war to boost stock prices on everything

    Nothing like war profiteering to boost your company portfolio

  • Taldan@lemmy.world
    8·
    11 days ago

    Fuck Palantir, but this is a ridiculous article. Palantir is up more than 4x im the past year. A 15% drop is absolutely nothing in the face of that

    Their stock price also doesn’t matter too much. The majority of their revenue is from the government, in exchange for spying on citizens. They’ll be around as long as the government keeps them around (which seems a guarantee with the current admin)