Palantir Shares Fall 1.6%, Snap Seven-Day Rally on Contract Scrutiny Fears

Palantir Technologies (PLTR) shares fell 1.6% to $132.22 on Wednesday, July 08, snapping a seven-day winning streak that had lifted the stock 25%. The pullback followed a report raising the prospect that Democratic lawmakers could target Palantir’s U.S. government contracts, according to BeInCrypto, after a Financial Times story cited internal concern over potential political backlash. Shares had rebounded from a June 25 low of $107.27 to above $134 before reversing. Palantir said it will continue working with Democrats and Republicans. The move comes days after Palantir unveiled a partnership with Nvidia and D.A. Davidson upgraded the stock to Buy.