yahoo news | Palantir Is Down 17% in Three Days: Inside the Selloff That Has the AI Platform...

Palantir Technologies (NASDAQ: PLTR) entered a steep four‑day losing streak, slipping another 5% on Friday to around $124 after closing Thursday at $130.49. The drop follows a viral post by short‑seller Michael Burry, who warned that Anthropic’s new Managed Agents product could “eat Palantir’s lunch” by pulling enterprise AI spend away from the middleware layer Palantir built. Although Burry later deleted the comment, the narrative stuck, driving the stock down roughly 17% in four sessions and leaving Palantir down about 30% year‑to‑date from its early‑2026 peak of $177.75.

The sell‑off has spilled into other AI‑software names—Salesforce, ServiceNow, Snowflake and Cloudflare—all hit as investors rethink the balance between traditional software platforms and foundation‑model providers. Despite the market pain, Palantir’s underlying business remains strong: Q4 2025 revenue jumped 70% YoY to $1.406 billion, U.S. commercial revenue surged 137% YoY to $507 million, and the company forecast full‑year 2026 revenue of $7.182‑$7.198 billion, a 61% increase. CEO Alex Karp stresses that Palantir’s value lies in wrapping and operationalizing AI models within Gotham, Foundry and AIP, creating high switching costs that the firm believes differentiate it from pure‑play model providers.

Nevertheless, the stock now trades at an eye‑watering P/E of roughly 260×, a multiple that leaves little margin for error, especially amid heavy insider selling and heightened macro‑economic anxiety. Prediction markets view a down close as highly likely, with the week’s average target near $140 and a 50/50 split on direction by mid‑April, suggesting the pressure may ease soon. Key watch points include whether Palantir can hold above $120 by day‑end and if institutional buyers step in, setting the tone for the next earnings cycle where the company can directly confront Burry’s thesis with fresh data.

Read more: https://247wallst.com/investing/2026/04/10/palantir-is-down-17-in-three-days-inside-the-selloff-that-has-the-ai-platform-king-reeling/

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