7 Red Days In A Row: Palantir Technologies Stock Is Down 14%
Palantir Technologies (PLTR) stock is on a 7-day losing streak, down 13.6% since the run began. That erased about $65.3 billion from the company’s market value, which now stands at about $413.1 billion. The stock closed at $171.70 on Wednesday, November 4, 17.9% below its 52-week high of $209.05 and 60.1% above its low of $107.27.
How The Streak Stacks Up Against The S&P 500
Returns for PLTR and the S&P 500 over the streak and the periods around it, all ending Wednesday, November 4 and including dividends:
| Return Period | PLTR | S&P 500 |
|---|---|---|
| 1 Day | -2.1% | 1.6% |
| 7 Days (Current Streak) | -13.6% | 0.2% |
| 1 Month (21 Trading Days) | -10.6% | -1.6% |
| 3 Months (63 Trading Days) | 10.1% | 0.0% |
| Year To Date | -3.4% | 13.4% |
| 1 Year (252 Trading Days) | -17.1% | 13.5% |
How The Streak Compares With The Market
The market explains little of this: the S&P 500 gained 0.2% over the same 7 sessions, including dividends, against Palantir Technologies’ -13.6%. No other S&P 500 stock is currently on a losing streak of 7 days or longer. Over the past three months the stock is up 10.1%, a window that includes the streak; over the other 56 sessions of that window it was up 27.5%.
Is The Business As Weak As The Stock?
On the fundamentals, revenue grew 87.1% over the last twelve months, against a median of 17.9% for S&P 500 Information Technology stocks; its operating margin is 45.6%, versus a median of 21.5%; and the stock trades at 112.6 times trailing earnings against a median of 29.6. The read is mixed: revenue growth above the median and margins above the median on one side, a multiple well above the median on the other.
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