Palantir Stock Retreat Continues Amid Valuation Concerns

Palantir shares extended their decline for a sixth consecutive session, shedding another 1% to close NEAR $156. The stock now sits 16% below its record high set last Tuesday, with intraday trading briefly pushing losses to 24% from peak levels. Citron Research's Andrew Left has emerged as a vocal critic, labeling the AI-driven software company "detached from fundamentals" and suggesting a $40 fair value target.

Technical indicators flash warning signals as the Relative Strength Index crosses into bearish territory. Traders are watching three critical support zones: $148 as immediate footing, followed by $125 and $98 should selling pressure intensify. Overhead resistance looms near the $188 all-time high, creating a clear battleground for bulls and bears.

While Palantir's AI platform continues driving record revenue, market participants increasingly question whether growth prospects are fully priced in. The current pullback reflects mounting skepticism about sustainability of premium valuations in the tech sector, particularly for companies riding the artificial intelligence wave.