Palantir Technologies Inc. (NYSE:PLTR) shares are trading lower Thursday. The stock appears to be moving on continued downward momentum. Here’s a look at what’s going on.
What To Know:
Shares of PLTR are down by 12.5% over the last month, but the stock remains up by 50% over the last three months.
Palantir shares have trended downward since the company reported its second-quarter financial results last week. Palantir reported second-quarter earnings per share of 5 cents and quarterly revenue of $533.317 million, an increase of 13% year-over-year and in line with expectations.
PLTR shares are moving lower on above-average trading volume. According to data from Benzinga Pro, more than 51 million shares have been traded in the session, compared to the stock’s 100-day average of 84.277 million shares.
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PLTR Price Action: According to Benzinga Pro, Palantir shares are trading 5.6% lower at $14.59 at the time of publication.
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