Palantir Stock Slides Despite Strong Earnings. That’s the Price of a Sky-High Valuation.
“Palantir is on fire,” Palantir CEO Alex Karp said on the company’s earnings call late Monday. Palantir stock was down 11.6% at $109.44 in early trading. As has become common for Palantir, the first-quarter revenue beat was driven by U.S. sales, up 55% on the year, with U.S. commercial revenue up 71%.