PLTR Is Falling on Defense Budget Woes But These 4 Politicians Just Bought Palantir Stock

Palantir Technologies (PLTR) has been under pressure lately, with shares slipping as concerns mount over potential cuts to U.S. defense spending. The stock plummeted more than 40% from its all-time high reached on Feb. 19 following news that Defense Secretary Pete Hegseth intends to cut projected U.S. military spending by 8% over the next five years. Notably, over 40% of Palantir’s 2024 revenue came from U.S. government contracts, according to data compiled by Bloomberg, and that segment grew more than 40% in each of the past two quarters. With that, potential budget cuts from the Department of Defense could threaten a critical revenue source for the company.

However, a noteworthy cluster of political figures – Marjorie Taylor Greene, Gilbert Cisneros, James Comer, and Julie Johnson – made headlines for their financial disclosures, revealing recent purchases of PLTR stock. Their buys suggest confidence in the company’s long-term prospects, even amid current volatility.