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Barchart
Barchart
Anushka Mukherji

Palantir Is Racing to Sign On New Defense Contractors. Is It Time to Buy the Dip in PLTR Stock?

Palantir PLTR Palantir Technologies United States

Wall Street’s favorite artificial intelligence (AI) stock, Palantir Technologies (PLTR), has been caught in a storm of volatility this year, facing sharp swings amid market uncertainty. After a red-hot rally in 2024, fueled by soaring demand for its AI-powered data analytics software, the stock has hit a rough patch this year. Over the past month alone, PLTR shares have crashed more than 23% as valuation concerns and economic uncertainty shake investor confidence. 

To make matters worse, the company’s heavy dependence on government contracts has left it especially vulnerable to federal budget cuts. With both the Department of Defense (DoD) and the Department of Government Efficiency (DOGE) pushing for spending reductions, fears of shrinking defense allocations have spooked investors. Yet, just when investors were starting to lose faith, Palantir came roaring back into the spotlight.

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