Palantir stock extends losses on expected defense budget cuts

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Thu, Feb 20, 2025, 7:49 AM

Palantir (PLTR) stock fell sharply in Thursday's trading session after the Trump administration ordered Defense Secretary Pete Hegseth to enact an 8% cut in military spending every year for the next five years. Palantir CEO Alex Karp's planned sale of nearly 10 million shares by September 2025 is also contributing to the drop.

Catalysts co-hosts Madison Mills and Seana Smith outline what investors need to know.

Catch former Congressman and Under Secretary of the Army Patrick Murphy react to the layoffs in the Department of Veterans Affairs (VA) and these proposed budget cuts for the Defense Department.

To watch more expert insights and analysis on the latest market action, check out more Catalysts here.

This post was written by Naomi Buchanan.