Why Palantir Stock Is Sliding Over 3% Premarket Today
Portfolio Pulse from Shanthi Rexaline
Palantir Technologies, Inc. (NYSE:PLTR) shares fell over 3% in premarket trading following a downgrade from Morgan Stanley analyst Keith Weiss from Equal-Weight to Underweight. Weiss cited an unfavorable risk-reward balance and predicted a potential 45% downside from current levels. However, opinions among analysts are divided, with Wedbush analyst Daniel Ives maintaining a bullish stance on the company.
August 31, 2023 | 11:31 am
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NEGATIVE IMPACT
Palantir's stock fell over 3% in premarket trading following a downgrade by Morgan Stanley. The analyst predicts a 45% downside, indicating potential short-term negative impact on the stock.
The downgrade by Morgan Stanley, a major financial institution, is likely to influence investor sentiment and could lead to a sell-off, causing the stock price to drop in the short term. The predicted 45% downside indicates a significant potential negative impact.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100