These 2 Stocks Are in Free Fall, and It's Still Too Early to Buy Them
With Wall Street in the midst of a sell-off, a number of previously market-leading stocks are unsurprisingly trading well below their highs. Two former high-flying tech stocks that have been in free fall recently are Palantir (NASDAQ: PLTR) and Tesla (NASDAQ: TSLA). Palantir's stock is down by about 37% from its high as of this writing, while Tesla shares have been more than cut in half.Despite their steep declines, though, I still would not be a buyer of either stock at their current levels.There are two big reasons why I'd be cautious with Palantir's stock right now: its valuation and the potential impact of reduced government spending.Continue reading
With Wall Street in the midst of a sell-off, a number of previously market-leading stocks are unsurprisingly trading well below their highs. Two former high-flying tech stocks that have been in free fall recently are Palantir (NASDAQ: PLTR) and Tesla (NASDAQ: TSLA). Palantir's stock is down by about 37% from its high as of this writing, while Tesla shares have been more than cut in half.
Despite their steep declines, though, I still would not be a buyer of either stock at their current levels.
There are two big reasons why I'd be cautious with Palantir's stock right now: its valuation and the potential impact of reduced government spending.
