Palantir Sinks on Planned Pentagon Budget Cuts. Is It Time to Sell the Stock?
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Palantir Technologies shares dropped 4.63% following news of an 8% cut in the Pentagon's $850 billion budget, ordered by Defense Secretary Pete Hegseth. This budget reduction could impact Palantir's government contracts.
February 24, 2025 | 3:00 am
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Palantir Technologies' stock fell 4.63% due to an 8% cut in the Pentagon's budget, which may affect its government contracts and revenue.
The Pentagon's budget cut is significant for Palantir as it relies heavily on government contracts. A reduction in defense spending could directly impact its revenue, leading to a negative short-term stock price movement.
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