On Tuesday, shares of AI software provider Palantir experienced a steep drop of over 9%, extending their decline into a fifth consecutive trading day since reaching an all-time high. Over this five-day period, the cumulative decline in share price has surpassed 15%. Earlier in the month, Palantir had announced impressive quarterly earnings, disclosing that revenue had surpassed $1 billion for the first time, a milestone that momentarily propelled its share price to new heights. Nonetheless, the stock has since witnessed a notable retreat.
