What's Going On With Palantir Stock?
Portfolio Pulse from Adam Eckert
Shares of Palantir Technologies Inc (NYSE:PLTR) are trading lower due to increased selling pressure from rising Treasury yields. Higher yields make equities look less attractive and borrowing more expensive, which can impact company earnings and slow economic growth. Palantir is set to report its Q3 financial results on Nov. 2, with expected earnings of 6 cents per share and revenue of $555.359 million.
October 23, 2023 | 2:25 pm
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Palantir's stock is trading lower due to the impact of rising Treasury yields. The company's Q3 financial results are expected on Nov. 2.
Rising Treasury yields are causing increased selling pressure on growth stocks like Palantir. Higher yields make equities less attractive and borrowing more expensive, which can negatively impact company earnings and economic growth. This is particularly significant for growth companies with little to no earnings. Palantir's upcoming Q3 financial results could also influence the stock's performance.
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