Palantir Technologies Inc Stock News

Palantir (PLTR) shares tumbled Tuesday afternoon, extending recent losses as a high-profile short seller fueled worries the stock could be overvalued after a strong run earlier this year.

Major U.S. equities indexes were mixed Tuesday as tech sector losses weighed on their performance. The S&P 500 ended the session 0.6% lower, while the tech-heavy Nasdaq dropped 1.5%.

The company's latest earnings report shows a company that's been hitting on all cylinders for quite some time. In the last three years, Palantir has delivered:

Palantir's stock fell for a fifth-straight day after touching new highs earlier this month. The artificial intelligence software provider had a stellar earnings report earlier this month, reporting its first-ever $1 billion revenue quarter.

Palantir (PLTR) shares tumbled Tuesday afternoon, extending recent losses as a high-profile short seller fueled worries the stock could be overvalued after a strong run earlier this year.

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Palantir (PLTR -8.12%) stock is under pressure and getting hit with substantial sell-offs in Tuesday's trading. The artificial intelligence (AI) leader's share price was down 5.6% as of noon ET.

Palantir stock (NASDAQ: PLTR) fell 7% on Tuesday, extending a slide that has stretched through most of the past week. The stock had hit a record $190 on August 12, but the pullback underscores investor unease over how much of its AI-fueled growth story is already priced in.