Palantir hit for $28bn as gravity (and defence cuts) hit the tech giant
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Palantir Technologies Inc (NYSE:PLTR) experienced a significant drop in its market value, losing $28 billion in after-hours trading. This decline is attributed to broader market forces and potential defense budget cuts impacting the tech giant.
February 20, 2025 | 9:30 am
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Palantir Technologies Inc faced a $28 billion loss in market value in after-hours trading. The decline is linked to general market conditions and possible reductions in defense spending, which could impact the company's revenue streams.
The significant drop in Palantir's market value is directly tied to external market forces and the potential for reduced defense budgets, which are critical to Palantir's business model. This news is highly relevant and important for investors as it directly affects the company's financial outlook.
CONFIDENCE 95
IMPORTANCE 90
RELEVANCE 100