Palantir Technologies Inc. (NASDAQ: PLTR) is down about 14% in the last month. The move proves that even some of the strongest technology stocks can get weighed down by market sentiment and profit-taking.
That may seem overly simplistic to investors who want to find any reason to have an “I told you so” moment for Palantir, which still trades at a forward price-to-earnings (P/E) ratio of around 561x as of Dec. 2.
