Palantir Stock Drops After Big Earnings Beat as Investors Find One Weak Spot
Palantir Technologies shares slid over 5% Tuesday, with investors zeroing in on weaker U.S. commercial revenue despite a first-quarter earnings beat across the board. By 11:12 a.m. EDT, the stock changed hands at $138.06, off 5.46%. The Nasdaq Composite, however, traded in positive territory late in the morning. Palantir stands out as a clear gauge for Wall Street, testing if corporate AI budgets will stretch beyond pilot projects and turn into steady, large-scale deals. Government contracts are expanding rapidly for the company. The tougher part: will private-sector clients step up with similar momentum?