Palantir Is Sinking Today -- Is the Artificial Intelligence (AI) Stock a Smart Buy Right Now?
Palantir (NASDAQ: PLTR) stock is getting hit with another day of substantial sell-offs in Thursday's trading. The company's share price was down 6.8% as of 2:20 p.m. ET amid the backdrop of a 0.7% pullback for the S&P 500 and the Nasdaq Composite indexes.Palantir's valuation is retreating today after Walmart issued sales guidance for this year that spooked Wall Street. On the heels of a 5.6% increase for its annual revenue last year, the retail giant only expects sales growth to be between 3% and 4% this year. Walmart is the largest retailer in the U.S., and investors often look to the company's quarterly reports, commentary, and guidance for indicators about the health of the overall economy. So while Palantir's business has limited immediate connections to Walmart, the retailer's results and performance outlook can have a significant impact on overall valuation trends across the stock market.Continue reading
Palantir (NASDAQ: PLTR) stock is getting hit with another day of substantial sell-offs in Thursday's trading. The company's share price was down 6.8% as of 2:20 p.m. ET amid the backdrop of a 0.7% pullback for the S&P 500 and the Nasdaq Composite indexes.
Palantir's valuation is retreating today after Walmart issued sales guidance for this year that spooked Wall Street. On the heels of a 5.6% increase for its annual revenue last year, the retail giant only expects sales growth to be between 3% and 4% this year.
Walmart is the largest retailer in the U.S., and investors often look to the company's quarterly reports, commentary, and guidance for indicators about the health of the overall economy. So while Palantir's business has limited immediate connections to Walmart, the retailer's results and performance outlook can have a significant impact on overall valuation trends across the stock market.
