Quick overview

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Palantir (PLTR) stock fell more than 9 percent, marking the fifth consecutive day of losses as investors continue to avoid some of the most popular tech companies that had driven stocks to all-time highs in 2025.

The company’s revenue surpassed $1 billion in a single quarter. Palantir’s stock surged by over 150 percent. According to Barchart, a market data provider, Tuesday’s decline represents Palantir’s longest losing streak since March.

The stock also faced downward pressure following a bearish report released on Monday by Citron Research, a short-selling firm, which projected a price target of $40 for Palantir. Andrew Left, the founder of Citron, described this target as “generous.” Citron based its price target on a comparison between Palantir and OpenAI (OPAI). As the massive ChatGPT company prepares to sell several billion dollars’ worth of stock, Palantir has recently experienced a valuation of $500 billion.

In addition to Palantir, investors have been withdrawing from several tech stocks. The Technology Select Sector SPDR Fund (XLK), which tracks technology stocks, dropped by over 1 point. AI powerhouse Nvidia (NVDA) closed down 3.5%, while Advanced Micro Devices (AMD) saw a decline of more than 5%. Shares of Meta (META), which has invested heavily in retaining AI talent, fell by over 2%. Overall, the entire tech sector has lost more than 2 percent over the past five trading sessions.