PLTR Stock Falls 10% to $154.99, an Eighth Straight Loss,…
By Tobi Opeyemi Amure
AI summary of the source article
Palantir stock fell 9.73% to $154.99 on Thursday, marking an eighth consecutive losing session and a 27.2% drop from its October peak. Although Q3 revenue rose 96% year over year to $2.313 billion, total contract value booked grew just 6%.
Why it matters
"Bookings lead revenue by several quarters, so the 6% line is the one that describes next year rather than last."
Key facts
- PLTR stock fell 9.73% to close at $154.99, marking an eighth consecutive day of losses and a 27.2% drawdown from its October peak.
- Palantir reported Q3 revenue jumped 96% year over year to $2.313 billion, but total contract value booked increased by only 6% to $2.918 billion.
- US commercial revenue increased 148% year over year to $984 million, overtaking US government revenue for the first time.
Source excerpt · FinanceFeeds
PLTR stock closed at $154.99 on Thursday, down $16.71 or 9.73%, in an eighth consecutive losing session. The stock touched $152.10 in extended trading and has recovered to $159.09 in Friday’s premarket, up 2.65%, per TradingView . Palantir reported Q3 revenue growth of 96% on Monday and raised full-year guidance. The reason PLTR stock kept falling is in the same release, on a line most coverage sk…