Palantir Is Falling Today — Is the Stock a Buy Right Now? | The Motley Fool

Palantir Technologies (NASDAQ: PLTR) stock is seeing a pullback in Wednesday’s trading. The software company’s share price was up down 2% in the day’s trading as of 3:15 p.m. ET, amid a 0.4% decline for the S&P 500 (SNPINDEX: ^GSPC) and a 0.6% decline for the Nasdaq Composite (NASDAQINDEX: ^IXIC). The stock had fallen as much as 5.3% earlier in the day’s trading.

Palantir’s valuation is moving lower today following news that the Federal Reserve is cutting the benchmark interest rate by 25 basis points. While lower interest rates are typically good for companies with highly growth-dependent valuations, some investors were hoping for a bigger rate cut.

Image source: Getty Images.

Continue reading

Source link