Palantir’s strong numbers fail to convince investors
▼ Summary
– Palantir CEO Alex Karp has been publicly asserting that the company is indispensable over the past two weeks.
– Retail investors sold a net $82 million worth of Palantir shares in the week leading up to May 13.
– The German military has also reached a conclusion opposite to Karp’s, rejecting Palantir.
– The timing of the retail investor sell-off and the German military’s rejection is almost perfectly synchronized.
Alex Karp has spent the last two weeks on a relentless campaign, insisting that Palantir Technologies is essential. Retail investors and the German military, however, have reached a very different verdict , and their timing could hardly be more aligned. During the week ending 13 May, individual investors sold off $82 million in Palantir stock, a clear signal of waning confidence. This retail sell-off coincides with a major military rejection in Germany, where officials have declined to move forward with a contract for Palantir’s data analysis platform. The company’s strong quarterly numbers, which included better-than-expected revenue and guidance, simply failed to sway the market or key government clients. For Karp, the message is unmistakable: being indispensable in theory doesn’t always translate into being wanted in practice.
(Source: The Next Web)
