Palantir Technologies ( (PLTR) ) is experiencing volatility. Read on for a possible explanation for the stock’s unusual movement.
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Palantir Technologies’ stock took a hit following a U.S. Army memo that revealed serious security flaws in a joint project, sparking concerns over the company’s reputation. The identified issues in the battlefield communications system, such as inadequate user access control and unverified software security, resulted in a ‘very high risk’ classification by the Army. Despite previous stock growth from defense and AI contracts, these revelations could impact Palantir’s credibility and delay system deployment.
More about Palantir Technologies
YTD Price Performance: 148.77%
Average Trading Volume: 65,112,191
Technical Sentiment Signal: Buy
Current Market Cap: $443.7B
For further insights into PLTR stock on TipRanks’ Stock Analysis page.
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