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Shares of Palantir Technologies (PLTR) have been moving up and down in 2026 as investors react to the Iran war and changing market sentiment. Just a few weeks ago, Palantir was one of the hottest names in the market driven by defense demand. But PLTR stock soon started losing steam as concerns of valuations resurfaced. Palantir is closely linked to modern warfare. Its AI software systems are now deployed in defense operations, and the company's Chief Technology Officer recently stated that the conflict in Iran will be recognized as the first significant AI-driven war.
Palantir stock is down 17% year-to-date (YTD), and trades roughly 29% below its 52-week high of $207.52. However, PLTR is up slightly for the day at the time of this writing.