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- Palantir (PLTR) is down significantly from its peak price, and most bulls have started toning down their excitement about the stock. PLTR was trading above $125 and at well over 600 times earnings. Bulls expected even more, as the market rewarded the company massively on any positive news.
Things have cooled down significantly since then. Proposed defense budget cuts appear to have spoiled the bullish sentiment surrounding the stock.