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Palantir (PLTR) Leads Tech Selloff Amid Broad Market Retreat
Palantir (PLTR) Leads Tech Selloff Amid Broad Market Retreat
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BTCCSquare news:
Palantir Technologies' stock plunged 10% on August 19, spearheading a sector-wide decline in technology shares. The data analytics firm now ranks as the worst performer in the S&P 500, dragging peers like Nvidia, Meta, and Microsoft lower. This retreat follows a 110% year-to-date rally that began with stellar earnings in early August.
Market observers attribute the selloff to profit-taking after extended gains, though some warn of deeper valuation concerns. The downturn mirrors April's tariff-induced slump, raising questions about the sustainability of tech's recent recovery. Five consecutive losing sessions have erased 12% of Palantir's value, with no clear catalyst beyond sector-wide repositioning.
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